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Bibby Financial assists new apparel unit with capital
25
Sep '14
Bibby Financial Services, a provider of business cash flow solutions to small and medium-sized companies said it has assisted a garment producing start-up, access capital.

Bibby Financial has funded a $1.25M non-recourse factoring facility for a California-based apparel manufacturer.

Bibby said, “This new business saw increased demand for private-label denim, but as a start-up had struggled to obtain traditional funding.

“It needed a more flexible cash flow solution to pay international suppliers, afford growth and maintain operations.”

"New and growing businesses often have trouble securing traditional bank lending," said Rob Meyers, MD of Bibby Financial Services California.

He added, "Even though this business is a start-up, Bibby Financial Services was able to provide a sizeable and scalable facility for continued growth support."

With offices in 15 countries around the world, Bibby is an approved lender for the Export-Import Bank's working capital guaranty program. (AR)

Fibre2fashion News Desk - India

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