Bibby International Trade Finance, a division of Bibby Financial Services, has provided a US$1.7mn purchase order and receivables credit facility to an electronics manufacturer based in Orlando, Florida. The company supplies electronic control devices and accessories to the Brazilian National Guard.
According to Ian Varley, CEO of Bibby International Trade Finance, the company advanced funds against the purchase order to pay the US supplier, and also arranged transportation of the goods through to the customer in Brazil from whom they secured an irrevocable letter of credit for payment of the debt due.
Bibby Financial Services is a leading global provider of business cash flow solutions to small and medium-sized enterprises.
“Our trade finance division, specialising in export invoice finance and purchase order finance, assists growing businesses by breaking into new overseas markets. With our focus on providing services to small businesses, we can offer them working capital and trade finance solutions rarely found in the current marketplace,” Varley adds.
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