Daily News: September 30, 2014

Bibby Provides $4MM Facility for Grill Distributor

Bibby Financial Services announced that it has funded a $4 million factoring facility for an Alberta-based distributor. The company markets high quality and energy-efficient wood-pellet-burning barbecue grills.

After three years with its current lender, the distributor found it needed a more flexible option for financing and turned to Bibby Financial Services. The company now has a higher advance rate and financing options for future growth, giving it the working capital it needs.

“Often, businesses find themselves needing a different type of financing to maintain operations or prepare for growth,” said Bob Lall, managing director, Canada. “Bibby Financial Services was able to help this business move away from its current lender and find a financing solution that is flexible.”