Daily News: November 7, 2017

Bibby Provides $3MM Factoring Facility to Salad Dressing Maker

Bibby Financial Services provided a $3 million factoring facility to support a U.S.-based global manufacturer and distributor of organic salad dressings. The flexible financial solution will allow the company to ramp up production to meet the 400% sales increase projected for 2018.

The manufacturer turned to BFS’s factoring solutions after increased demand for its products led to multiple backorders.

“Because we took the time to understand the client’s business and industry, we were able to customize a solution to immediately address their manufacturing needs and free up cash flow to support expanded operations,” said DJ Krystopa, VP of business development at BFS.

The facility will allow the client to submit live invoices and receive an advance with which it can pay for supplies and production costs, while further supporting the client with collection services.