Bibby Financial Services Canada announced a continued relationship with Albany Packaging, a Toronto-based retail box manufacturer. The company recently signed a two-year extension with the firm for a $2.5 million factoring facility and $500,000 inventory loan.

Since engaging with Bibby Financial Services in 2014, Albany Packaging closed deals with several large customers and experienced increased revenue across the business, which specializes in unique retail boxes. The company expects continued growth over the course of the next two years with its strategic financing partner Bibby Financial Services.

Manufacturing and production rates are seen as economic indicators, and Canadian manufacturing sales increased in 2013 for the fourth year in a row, according to Statistics Canada. However, the rapid growth of these companies post-recession has also led to an increase in the need for working capital.

“We’ve provided funding solutions to a wide variety of companies in 2015 but are seeing significant growth in the manufacturing sector,” said Leigh Lones, chief executive officer of Bibby Financial Services, Americas. “We are especially proud that our funding can directly impact local economies by supporting growth opportunities within this industry.”