Freight Bill Funding
Bibby Transportation Finance, solely dedicated to the transportation industry, understands the pressures you face with cash flow and time when running your transportation company. We know your industry; Bibby Distribution Services, our sister company, is the largest family-owned distribution company in the UK with over 1,500 trucks and over 2,600 staff.
We have developed products and services to help you maximize your operating capital and streamline the administrative side of your business... saving you time and money.
- Fast Funding You will receive funds on your verified freight bills the next business day, either to your bank account or to your Bibby Fuel Card. For initial funding on new facilities we expect to have you funded within two to six business days of receiving your application and supporting documentation. The time may vary depending upon the size of your company.
- Competitive Rates Everyone refers to their rates as competitive. We mean it. We typically save our clients at least 20% in fees over their existing funder, often much more. Why? When you fund over $9 billion in receivables a year you have economies of scale you can pass onto your clients.
- Stability & Openness We are financially stable and open with our information. Want proof? Ask for our parent company's annual report and we will provide it. Ask our competitors for their audited balance sheet... surely a funding provider will be willing to show you their financial strength?
- Flexibility We do not have rigid credit policies; we will look at your company and your company's situation and work with you to develop a solution for your needs.
- Administrative Services We offer more than just cash against your freight bills; we offer you a professional collections service and a suite of additional services.
- Variety Whether you have one truck, a fleet of 400 or somewhere in between, whether you are in shipping or whether you are a broker, we are happy to work with you.
- Success Our success depends on your success.
- Consulting We offer you more than just finance solutions. If you are unsure about which steps will take your company to the next level, we can help steer you in the right direction.
What Type of Transportation Companies Do We Work With?
As long as you have not pledged your accounts receivable as collateral, we can work with you. If they are pledged to another factoring company, bank or IRS lien, we will work with you to get these paid off by our factoring facility on the initial funding.
Companies we usually work with:
- Family-owned businesses that do not want their personal assets secured as required by banking lines of credit
- Growing businesses that want a cost-effective facility that will grow with them
- Businesses that have seasonal peaks and valleys
- Transportation companies that are tired of overpaying for a poor service
We will also work with transportation companies that are looking to restructure their businesses (for example, through a Chapter 11 or D.I.P. financing). Or, proprietors who have credit that is not acceptable to banks. Or, freight bill funders that are not sympathetic to the issues and pressures of growing and running your own business.
What Next?
If you would like to speak with one of our Transportation Finance specialists, simply complete our contact form. You can also call us at (877) 692-4229, email us at sales@bibbytf.com or request a call back.
