Bibby Transportation Finance Almost Doubles Business in 2017

Bibby Transportation Finance Nearly Doubles Business at 2017

Today’s News

Bibby Financial Services  supplied $35 million in commercial funding to 64 new clients in North America during Q4/17. BFS specializes in funding small and midsize companies in North America from many different industries including transportation, staffing, distributing, manufacturing and support. BFS Canada financed 19 new clients and BFS U.S. financed 45 new clients in Q4/17.

The company nearly doubled its business at Bibby Transportation Finance and also gained 7% more new clients in 2017 than in 2016 across all areas of business. Also, Q4/17 made up more than 50% of their funding for its quarter was closed from by the lending funding lines.

At 2018, BFS hopes to see a further bulge in the number of SMBs in need of ABL and factoring, estimating its customer count will increase by more than 10 percent as the essential issues confronting companies continue to be of concern. The most typical issues include things like rising interest rates for business loans, handling cash flow and bringing new business.

“Factoring and ABL are other financial options that are indispensable to entrepreneurs that require working capital to operate and grow their companies. Our  customer endorsements, the net funds we used in 2017 and our 2018 projections to increase funds being used by 25% are clear indicators which our portfolio of products fulfills the funding needs of SMBs,” explained Ian Watson, CEO of BFS North America.

Based on a study I completed, I predict the global availability of bank financing will probably deteriorate by roughly $2.6 trillion bucks in 2019 when banks transition to the new lease accounting rules (Topic 842 from the U.S. and IFRS 16 to get…

Steve Latin-Kasper

The work truck sector was able to continue growing in 2016, as measured by earnings of truck chassis and automobile equipment. On the other hand, the rate of expansion was 0.5 percent. In Q1/17, chassis earnings fell in the same-quarter, previous-year, at a rate of…

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