Bibby Financial Services Provides Facility for Distributor
Bibby Financial Services announced that it has funded a $2 million factoring facility for an Atlanta-based distributor. The company, which sells inflatable illuminated balloons in a range of sizes, distributes to a variety of large retailers based in the U.S., UK and Europe.
The distributor began to experience rapid and substantial growth and needed new means of working capital to prepare for its heightened seasonal demand during summer months. Bibby Financial Services was able to help this expanding company by providing a recourse facility that will give it the liquidity it needs.
“As a company that flourishes from seasonal demand, it can be difficult to maintain a solid cash flow during slower sales periods,” said Graham Plater, managing director. “Bibby Financial Services was able to bridge the cash flow gap so it could continue its success and growth.”