Bibby Transportation Finance Extends Nearly $500,000 to Trucking Companies.NASHVILLE, Tenn. -- Bibby Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. said today that its Bibby Transportation Finance division has completed a series of financings to support small to medium-sized trucking companies using its Accounts Receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying funding program. These transactions include: * $225,000 to a truckload carrier Merrian-Webster online dictionary defines truckload as " a load or amount that fills or could fill a truck". A truckload carrier is a trucking company that generally contracts an entire trailer-load to a single customer. in Oxnard, CA * $120,000 to a trucking company in Tustin, CA * $25,000 to a trucking company in Dayton, TX * $50,000 to a start-up trucking company in Somerset, NJ * $30,000 to a trucking company in Miami, FL "Small and medium sized trucking companies continue to feel the full impact of the recession," said Eric Hunter, EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition , Managing Director, Bibby Transportation Finance, "but we are working with our clients to help improve their cash flow and close their funding gaps." Bibby Financial Services said these funds were used for working capital to cover expenses such as fuel, payroll, insurance, repairs and maintenance; for cash flow due to slow paying customers; and to grow their businesses by purchasing additional tractors and trailers. Bibby Transportation Finance has adopted an aggressive growth strategy, positioning itself as a key player in the U.S. transportation receivables financing market. By developing close relationships with its clients, Bibby Transportation Finance is able to tailor for them receivables funding programs that are appropriate for their size and needs, while offering same-day funding, online broker credit checks and debtor approvals, discounted shipping rates, 24/7 online system for reporting, and online collection notes for easy referencing and reporting. Notes to Editors Bibby Financial Services is a worldwide market leading specialist of business cash flow solutions to small and medium-sized enterprises. Its product portfolio includes receivable finance, factoring, export finance, purchase order finance and specialist solutions for staffing and trucking sectors. Its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. offices are located in Atlanta, Chicago, Dallas, Houston, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Nashville, Phoenix, Sacramento, Toronto and West Palm Beach, as well as 27 other countries around the world. Bibby Financial Services is a subsidiary of The Bibby Line The Bibby Line is a British company concerned with shipping and marine operations. Its parent company, Bibby Line Group Limited, can be traced back to the shipbroking partnership of Bibby & Hall, which was founded in 1801. Group, a 200 year-old privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in the United Kingdom, that provides business-to business services to a variety of industries including shipping, distribution, offshore oil field services, financial services, retail and employment law. For more information on Bibby Financial Services, visit: www.bibbyusa.com, www.bibbycanada.ca, www.bibbyfinancialservices.com For more information on The Bibby Line Group of Companies, visit: www.bibbygroup.co.uk |
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