Bibby Financial Services (BFS) announced today it is providing nearly $3 million in financing to a Georgia-based distributor of insulation, garage doors and exterior gutters for residential and commercial buildings. The asset-based funding will be used to refinance existing lines of credit and provide needed working capital to support the company’s strategic growth plan.
BFS provides funding solutions for small and medium-sized enterprises (SMEs) in a range of industries including building products. BFS has its U.S. headquarters in Kennesaw, GA and has been operating in North America for more than 15 years with seven locations across the U.S. and Canada.
“Throughout various economic climates, businesses in a myriad of industries can receive financing against their assets, for growth or to execute a turnaround plan” said Barry Kastner, Executive Vice President and Head of ABL at Bibby Financial Services. “We’re proud of the fact that we consistently provide flexible commercial financing for businesses, and work with our clients to educate them on the solutions that best fit their business goals and cash flow needs.”
“The construction industry was hit hard as an effect of the recession and there weren’t many financing options available to help small businesses like mine,” said the CEO of the insulation company. “We partnered with BFS because they were a ‘one-stop shop’ with better solutions and lower costs than our previous lender. Now, we’re free from our restrictive financing agreement and have the resources we need to grow as the construction industry heats up again.”
The client’s full array of products and services helps create buildings that conserve energy while saving on heating and cooling costs. The company plays a vital role in an industry that continues to rebound nationwide and contributes significant economic growth to the overall U.S. economy.
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.