Based in Clifton, New Jersey, Baker Personnel provides temporary staffing services to businesses in almost every industry within a 20-mile radius of its headquarters. As with most staffing companies, meeting payroll for their employees before receiving payment from customers often posed a challenge. Before it could become the regional powerhouse it is today, the company needed to engage a commercial finance provider that both understood and accommodated its needs as the company grew.
Bibby Financial Services provided Baker Personnel with a flexible factoring facility in 2003 that has expanded with the company. Not only was the facility tailored to meet the firm’s evolving needs, but the benefits of working with BFS extend beyond funding to include support for back office efficiencies. As Baker Personnel increased its customer base, it faced more invoices to process. Higher invoice volume allowed the factoring facility to grow alongside the company and provide more working capital while simultaneously freeing the company from the burden of collecting payment on their invoices.
Today, Baker Personnel routinely staffs up to 300 temporary employees at a time. After almost 14 years in business, Baker Personnel is considered a mainstay in the region. With the ongoing support of Bibby Financial Services, the staffing company weathered the storm of the last economic recession. Bibby Financial Services has been a trusted financial partner for more than a decade, and Baker Personnel is extremely satisfied with the service it receives. CEO Tom Milone says he regularly receives calls from other factoring companies but has never entertained the idea of switching providers. Milone has worked with the same BFS account representative for years and does not believe another company would provide the same commitment to customer service. “They could give me different rates, but they couldn’t give me what I’ve gotten from Bibby Financial Services in the past 13 years,” he says. “They care about us, and I have the best account representative out there. I feel like she’s family.”