Bibby Financial Services Canada celebrated 10 years in business this month. In 2006, Bibby Financial Services identified Canada as a market with great growth potential for accounts receivable financing in 2006. It was a natural extension of the company’s previously established U.S. business.

Since entering the Canadian market, the company has grown from three to 28 staff members and 200 clients. The company has funded more than 750 small and mid-sized businesses in the last 10 years and provided more than $400 million of funding to businesses last year alone. The addition of asset-based lending to its offering has allowed BFS Canada to expand its reach into an underserved market; most recently, the company provided a $2.5 million ABL loan to a manufacturer in Ontario.

The company’s culture fosters growth and development by engaging employees to develop deep, personal relationships with customers, thereby growing profitability. This is evidenced by the fact that two of the company’s first three employees celebrate 10 years with Bibby Financial Services Canada this year – Sangy Ellis and James Poston. The Canadian office also prides itself on diversity. Its current employee base represent 15 countries, including Canada.

“Our entry into the Canadian market proved to be a successful venture. Combined with a stellar team, the conditions in the market have primed the company for continued success,” said Leigh Lones, Americas CEO. “We are excited to continue to create positive impact not only within the businesses we fund, but their respective communities, as well.”

BFS Canada will continue to expand its reach into the Canadian market with three areas of focus: asset-based lending, factoring and freight factoring. Additionally, the company is working to further develop brand awareness in Quebec and British Columbia and strengthen its presence in Ontario.