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Fast Track – successful for growing apparel companies
10
Feb '10
Apparel companies, which are starting to see increasing demand for their products after a nearly two-year drought, are seeking accounts receivable financing under special funding programs offered by Bibby Financial Services aimed at young, rapidly growing companies.

“Clients are drawn to the flexibility of these financing options. KickStart, which provides accounts receivable advances for $100,000 or less, and Fast Track, which advances money in amounts from $100,000 to $250,000, are aimed at young companies – including start-ups – and those in rapid growth phase, that are likely to experience a cash flow crunch,” said Nick Hart, managing director, Bibby Financial Services. “Clients are drawn to these programs because they require minimal documentation and the approval process is very quick. And most importantly, it provides access to the cash businesses need to grow.”

Bibby Financial Services recently funded these California-based apparel companies:

• A San Francisco-based company that began in the owner's garage in 2009 will use a $250,000 Fast Track facility to meet growing demand from national stores eager to carry its brand of children's clothing.
• A Chino Hills-importer and distributor will use its $250,000 Fast Track facility to purchase inventory.
• A Los Angeles based company that manufactures and distributes designer clothes will use its $250,000 Fast Track funds to pay suppliers.
• A promotional products company located in Huntington Beach will use its $100,000 KickStart facility to pay its suppliers for its products, which are sold to colleges, pro sports teams and Fortune 500 companies.
• A Los Angeles-based company that manufactures and distributes designer clothing will use its $250,000-Fast Track funds to pay suppliers.

Bibby Financial Services is one of the leading global factors, specializing in fast and flexible cash flow solutions for small and medium-sized companies. With offices in 10 North American cities and 11 countries around the world, its product portfolio includes factoring, export finance, purchase order finance, and specialist solutions for the government, staffing and transportation sectors. In 2009, Bibby Financial Services was a stepping-stone to financial health for more than 8,000 customers, funding $7+ billion in receivables worldwide.

Bibby Financial Services

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