Bibby Financial Services (BFS) today announced a $1 million factoring facility delivered to Greenline, an emerging market retail service provider with offices in Las Vegas, Nevada and Stockton, California. Referred by brand partners who are also former BFS clients, Greenline selected BFS as its factoring firm to facilitate the growth of its current brand partners, strengthen its strategic retail connections and broaden its e-commerce networks. The support from BFS enables Greenline to acquire new brands for worldwide development and to drive its financial growth at an accelerated pace.
Matt Cereno and Mike Smart launched the business in 2002 with a vision of developing a company that provided all the necessary tools, techniques, and inroads to give their partners a clear route to successfully market their innovative products. In 2017, the entrepreneurs merged all go to market services into one avenue, Greenline, to lead clients to the best strategies through sales, consultative services, distribution, and logistics. With the funding from BFS, Greenline is better positioned to support its clients’ production and distribution of innovative products through the pivotal holiday season. “We are very excited to partner with Bibby Financial Services, especially going into the busiest season of the year for our retail and omni-channel tech space,” stated Cereno, Greenline’s President. “Our industry is constantly launching new technological advancements, and with this support our brand partners will be able to keep up effortlessly.”
“With its curated group of brand partners and the passion Greenline brings to helping their clients launch today’s most innovative products and reach their marketplace potential, we are delighted to have been selected as the funding partner that will propel them through their next stage of growth,” said Ian Watson, CEO of Bibby Financial Services North America.
According to Nielsen’s Global New Product Innovation Survey, 63% of consumers state that they like when manufacturers offer new products, and technology is the fastest growing retail sector. With much of its own client base in the tech industry, BFS offers programs designed to give businesses like Greenline flexible factoring loans to move forward and be adaptable in the changing retail market.
About Bibby Financial Services
Bibby Financial Services is a leading independent financial services partner to more than 10,250 businesses worldwide providing more than $1.25 billion in funding annually and handling $11.6 billion in annual client turnover globally. With over 44 operations in 13 countries spanning Europe, North America and Asia, we provide asset based lending and factoring solutions to help businesses grow in domestic and international markets. Established in 2001, Bibby Financial Services North America has seven offices in the U.S. and Canada that support businesses in virtually any industry. We hold memberships in the Commercial Finance Association, the International Factoring Association, and the American Finance Association. Bibby Financial Services is part of Bibby Line Group (BLG), a diverse and forward-looking family business with over 200 years’ experience of providing personal, responsive and flexible customer solutions. To find out more about Bibby USA and Bibby Canada, please visit www.bibbyusa.com or www.bibbycanada.ca.