Daily News: October 31, 2012

Bibby Provides $2 Million to Restructuring Distributor


Bibby Financial Services announced that it has provided a $2 million factoring facility to a Quebec, Canada-based company that imports, prepares and packages spices and then distributes them to a wide range of customers.

The company will use its improved cash flow to fund its growth after restructuring.

“This is a growing company with good customers and a strong management team. It needed a finance company that can support its restructuring plans that will help them expand,” said Bob Lall, managing director, Bibby Financial Services, Canada. “Local decision makers enable us to respond quickly with creative solutions to provide cash flow to overcome challenges and improve business performance. Our online reporting also provides our clients with 24/7 access to their account information so they can keep their eye on the Big Picture.”

Bibby Financial Services is a provider in business cash-flow solutions to small- and medium-sized companies.