Bibby Financial Services Canada provided a $3.5 million confidential line of financing to a Canadian waste management and industrial services company.

The confidential factoring facility will use current invoices to advance the funding needed to pay short-term obligations, maintain the company’s fleet of service vehicles and support back office needs with BFS’s seamless invoicing and collection services.

The funds will allow the company to refinance existing lines of credit and support its day-to-day needs managing a fleet of more than 65 trucks across several branch locations in Canada. The industrial waste management company serves businesses in multiple industries including airports, garages, oil plants, refineries and other manufacturing companies.

“Each client we support is unique, with its own challenges and requirements. By taking a personalized approach, we developed a customized funding solution that immediately addresses the needs of this fleet-driven company and improves its cash flow,” said Calum Williamson, president of BFS Canada. “Our experience serving a variety of industries across North America, including a large number of businesses serving the manufacturing and industrial sectors, has bolstered our ability to provide flexible commercial financing at every stage of a company’s lifecycle.”