Daily News: May 19, 2017

Bibby Transportation Finance Supports 3A Express’ Expansion

Bibby Transportation Finance (BTF) provided a $500,000 factoring facility for 3A Express, a Michigan-based transportation company specializing in over-the-road (OTR) and refrigerated trucking.

3A Express holds contracts with some of the top shipping companies in the U.S. Based on the advance of funds against accounts receivable, the factoring facility will support 3A Express’ day-to-day operating costs and enable the company to increase the number of refrigerated trucks in its fleet.

3A Express expects to earn around $12 million in annual sales once all 50 trucks in its fleet are deployed. The financing also has the added benefit of helping 3A Express more easily manage this growth by simplifying operations through dedicated back-office support.

“At BTF we’re proud to work with growing companies like 3A Express and are committed to providing the ease and speed of funding our clients desire,” said Mary Ann Hudson, executive vice president of Bibby Transportation Finance. “We created a creative and flexible financing package for 3A Express that can be used to cover short-term operating costs, like fuel and insurance, while also taking into account their long-term goals.”

Bibby Transportation Finance is based in Nashville, TN and is a subsidiary of Bibby Financial Services.