Bibby Financial Services provided a $2 million accounts receivable and inventory facility to a California-based fruit snack business.

The snack producer owns its supply chain from start to finish and has relationships with the farmers who harvest fruits and vegetables for its products. The company will use the funding to support expanded nationwide distribution resulting from increased demand for its products.

The BFS funding allowed the company to split from its international parent company, a move that will better support an enhanced growth strategy. The facility is adaptable with room for expansion as the company continues to mature.

“While the natural food industry is robust and experiencing strong growth, traditional bank funding is still not a viable option for many companies in this market,” said Ian Watson, Bibby Financial Services’ CEO of North America. “We pride ourselves in providing customizable and flexible funding options to companies that span a diverse range of industries and sizes.”