Seville Staffing supplies temporary workers to businesses and government agencies throughout Illinois. Since 1979, customers have turned to Seville for administrative, office/clerical, logistics (“light industrial”) and skilled manufacturing workforce solutions. Seville Staffing won a major contract with a government agency that was large enough to be a “game changer” and put it on a strong growth trajectory. However, it was unable to obtain bank financing because of the sudden revenue impact, customer concentration, and length of the accounts receivable payments. Seville Staffing turned to Bibby Financial Services for staffing funding based on the company’s ability to offer flexible alternative lending solutions.
Bibby Financial Services provided a seven-figure staffing factoring facility to finance the company’s receivables, tailored to accommodate Seville’s unique situation.
The staffing company funding allowed Seville Staffing to finance its proactive new business strategy and advance to a significant milestone in its business, increasing both its client base and its workforce. The true effect of the company’s relationship with BFS as an alternative lender was evidenced when Seville Staffing was able to transition to a bank line of credit. Additionally, the company has been named one of Staffing Industry Analysts fastest growing staffing companies.