Daily News: May 7, 2014

Bibby Financial Provides Facility for Apparel Distributor

Bibby Financial Services announced it has funded a $750,000 factoring facility for a CA-based apparel distributor.

The business, established in 2000, produces skateboarding industry apparel, footwear and products such as wheels. Although the company is well-established, lending restrictions and the removal of an inventory facility from the previous lender left gaps in cash flow.

In order to maintain business operations, the company needed a more flexible cash flow solution. Bibby Financial Services was able to assist by providing a recourse factoring facility.