Bibby Financial Provides A/R, PO Facility to Apparel Co.
Bibby Financial Services announced that it provided a Colorado-based apparel wholesale distributor with a $325,000 combined accounts receivable and purchase order financing facility.
The company is experiencing high demand for its products from its growing customer base. It has struggled to seize growth opportunities and fill large orders due to gaps in cash-flow.
The apparel distributor turned to Bibby Financial Services for purchase order funding to get cash for its confirmed orders. By giving the company the working capital to execute purchase orders, the business will be able to meet the high demand it is experiencing.
Bibby Financial Services is also working with this company on an accounts receivable facility, which will give it a cash advance on its invoices and a method of easily paying off its purchase order advances.
“Large orders and seasonal sales can put pressure on a company’s cash-flow,” said Leigh Lones, CEO, Bibby Financial Services, Americas. “Purchase order and accounts receivable financing combined give companies the liquidity to fulfill big orders on time, keeping their customers confident and eager to place new orders.”