Transportation Finance : Bibby Financial Services

By: Bibby Financial Services Canada  09-12-2011

Freight Bill Financing

We understand the pressures in cash flow and time in running a trucking company. Bibby Transportation Finance has developed products and services to finance your business and streamline the administrative side of your business.

We know your industry; Bibby Distribution Services, our sister company, is the largest family-owned distribution company in the UK with over 1,500 trucks and over 2,600 staff. Bibby Transportation Finance is dedicated solely to the trucking industry.

  • Fast Funding  You will receive funds on your verified freight bills within 24 hours of receipt either to your bank account or to your Bibby Fuel Card. For initial funding on new facilities we expect to have you funded within 2 to 6 business days of receiving your application and supporting documentation, the time depends upon the size of your business.
  • Competitive Rates  Everyone refers to their rates as competitive. We mean it. We typically save our clients at least 20% in fees over their existing funder, often much more. Why? When you fund over $5 billion of receivables a year you have economies of scale you can pass onto your clients.
  • Stability & Openness  We are financially stable and open with our information. Want proof? Ask for our parent companies annual report and we will provide it. Ask our competitors for their audited balance sheet.. surely a funding provider will be willing to show you their financial strength?
  • Flexible  We do not have rigid credit policies, we will look at your business and your business's situation and work with you to develop a solution for your needs.
  • Our Services  We offer more than just cash against your freight bills; we offer you a professional collections service and a suite of additional services.
  • Variety  Whether you have 1 truck, 400 trucks or somewhere in between, whether you are in shipping or whether you are a broker, we are happy to work with you.

What Sort of Trucking Companies do you Work With?

As long as you have not pledged your accounts receivable as collateral, we can work with you. If they are pledged to another factoring company or bank, we will work with you to get these paid off by our factoring facility on the initial funding.

Companies are usually:

  • Family-owned businesses that do not want their personal assets secured as required by banking lines of credit
  • Growing businesses that want a cost-effective facility that will grow with them
  • Businesses that have seasonal peaks and valleys
  • Trucking companies that are tired of overpaying for a poor service

We will also work with trucking companies that are looking to restructure their businesses (for example through a Chapter 11 or D.I.P. financing). Or, proprietors that have credit not acceptable to banks. Or, freight bill funders that are not sympathetic to the issues and pressures of growing and running your own business.

The information in this article was current at 06 Dec 2011

Contact Bibby Financial Services Canada


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