2011-1-7
Bibby Financial Services announced it has successfully worked with one of Southern California's largest vertically integrated apparel and fabric manufacturers to provide a $2 million factoring facility for two of its companies.One business offers a full spectrum of washing, dyeing and printing fabrics at a locally-based factory and hand finishes garments at another location in Central America. The other business produces and sells fabrics to garment manufacturers. Both companies will use the additional cash flow to grow and develop their business providing secure financing on which to build their plans for 2011 and beyond.
"Apparel manufacturing is a key industry for our company because it is dominated by design led entrepreneurs who can experience very rapid growth. Factoring speeds up the cash flow cycle, helping to convert a large order book into quick sales and satisfied customers," said Nick Hart, managing director, Bibby Financial Services, California. "This particular company has an impressive domestic dye house with an experienced staff. I am very proud that we are able to support jobs and entrepreneurs in the apparel industry both here and abroad."
Bibby Financial Services is a worldwide market leader in business cash flow solutions to small- and medium-sized companies. With offices in seven North American cities and 14 countries around the world, its product portfolio includes accounts receivables finance, factoring, export finance, purchase order finance, specialist solutions for the staffing and trucking sectors, and it is an approved lender for the Export-Import Bank's working capital guaranty delegated authority program.
source: www.fiber2fashion.com
