Daily News: July 31, 2017

Bibby Provides $2MM in Financing to a Casual Apparel Company

Bibby Financial Services (BFS) provided a $2 million factoring facility to a casual apparel company based in California.

The company provides outdoor and surfing-themed T-shirts and other apparel to specialty retailers and consumers via bespoke e-commerce sites. The funding will boost the company’s cash flow, enabling it to take on larger inventory orders and update the clothing line each season to meet changing consumer trends.

The apparel company partners with local artists to design clothing inspired by California’s outdoor lifestyle. BFS used its commercial financing expertise and knowledge of apparel businesses to structure a flexible financing package that simplified the funding process and reduced the amount of paperwork the client was required to submit.

“Factoring is a popular financing solution particularly well-suited for fashion and apparel companies, which must often deliver their products well in advance of getting paid and must continually refresh their clothing lines to stay relevant,” said Ian Watson, CEO of Bibby Financial Services in North America. “Working with our client to help them attain the financial flexibility needed to navigate such a dynamic industry is exciting. BFS continues to expand its presence in California’s apparel industry as we build on our legacy of creating working capital solutions for small and large companies alike.”