Bibby Financial Services Funds Oil & Gas Service Provider with $3M Asset-Based Lending Facility
ABL and Factoring Leader Secures Significant Asset-Based Loan for Q1
2016
Bibby
Financial Services announces a major lending deal for early 2016 – a
$3 million asset-based loan provided to a Florida-based provider of
skilled labor for the oil and gas and marine industries.
The value-added service provider has supported offshore oil and gas and
marine industries operating in the Gulf of Mexico for 15 years. The
company maintains strong market share in several key primary service
lines, including rig repairs and upgrade, dockside vessel repairs,
upgrades and refits, mobilization and de-mobilization services,
completion/commissioning projects, subsea fabrication and marine
projects.
Bibby Financial Services was referred to the company after its previous
lender reduced its commitment to serving the oil and gas sector. Funding
from Bibby Financial Services allowed the company to mobilize staff for
pending projects and promptly pay key suppliers.
“Our strong referral network confirms our reputation as a trusted and
reliable provider of asset-based lending,” states Leigh Lones, Bibby
Financial Services CEO, Americas. “This allows us to continue to bridge
the gap between traditional and alternative lenders, offering companies
a viable and flexible funding solution.”
About Bibby Financial Services
Bibby Financial Services, a worldwide market leader in business
financing solutions, supports businesses of all sizes in virtually every
industry with flexible, customized funding solutions. With its
asset-based lending and factoring products, the company provides clients
access to the working capital needed to grow and support their
businesses. Bibby Financial Services is proud to have helped more than
8,900 clients grow their businesses by providing more than $1 billion in
funding across the globe. It operates offices in seven North American
cities and 16 countries. Bibby Financial Services is a subsidiary of The
Bibby Line Group, a privately held company established in the United
Kingdom in 1807. For more information, please visit www.bibbyusa.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160125005050/en/
Copyright Business Wire 2016
Source: Business Wire
(January 25, 2016 - 8:02 AM EST)
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