Bibby Financial Services Sees Early Success with KickStart Funding Program as Small Businesses Seek to Improve Cash Flow

CHICAGO-(Business Wire)-September 17, 2009 - Bibby Financial Services said today that KickStart-its recently introduced funding program that provides non-recourse funding facilities of up to $100,000 to small businesses-has turned in excellent results during its first month of operation, exceeding expectations.

“Our KickStart funding program has struck a nerve with business owners struggling with cash flow gaps,” said Marcus Ferrari, executive vice president of BFS Direct, a subsidiary of Bibby Financial Services. “Our clients like KickStart because the application process is straightforward and the terms are attractive and affordable. And we like these clients because they have creditworthy invoices and we believe small business is the economic engine that will lead the U.S. to future growth.”

One month ago, Bibby Financial Services introduced KickStart, which is aimed at businesses with sales volume of $1 million or less. It appeals to companies in a wide variety of industries and is appropriate for start-up ventures, as well as more established enterprises.

“KickStart is now attracting clients who just a few months ago thought factoring was too complicated,” Ferrari added. “It’s a great program that rounds out our portfolio of product offerings. So now the toolbox of financing options from Bibby Financial Services is complete.”

Below are a few of the deals that have been closed since KickStart was launched on August 4:

A company that manufactures and distributes motorcycle accessory parts sought out Bibby Financial Services because it needed a quick solution for immediate working capital to pay vendors and suppliers. Since this is a seasonal business, the company was particularly attracted to KickStart’s flexible terms.
A California-based company that makes and distributes lures and fishing gear is using KickStart funds for working capital to help the company stay current with suppliers while it is also expanding.
A government procurement contractor is using KickStart to cover its cash flow gaps since it must pay cash at the warehouse for all the items that it buys as it fulfills government bids, but doesn’t collect on its invoices for several weeks.
An Arizona-based start-up company that prepares foreclosed houses for sale needed extra cash to support expansion. The owner had previously factored with Bibby Financial Services when he ran a different business.
The manufacturer of organic baby clothes sought out KickStart after it received sizable orders from two large national retailers specializing in baby and children’s toys and clothes. Funds will be used to finance the increase in production.
A cloud computer storage company that previously rejected factoring was intrigued by the flexibility of the KickStart program. It is using the funds to cover cash flow gaps.

Bibby Financial Services is a worldwide market leading specialist of business cash flow solutions to small and medium-sized enterprises. With offices in 10 North American cities and 27 countries around the world, its product portfolio includes 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. . Bibby Financial Services is a subsidiary of The Bibby Line Group, a 202 year-old privately held company based in the United Kingdom.

For more information on Bibby Financial Services, visit: www.bibbyusa.com, or on Facebook at: www.facebook.com/bibbyfinancialservices.northamerica.

For expert advice on small business, please visit CEO Stewart Chesters’ blog at: www.bibbyusa.com/ceoblog

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