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Article: United states : Bibby Transportation Finance Provides $100,000 for Working Capital to Pay Out Bank Loan to Arizona-Based Courier Service.
- Article from:
- TendersInfo
- Article date:
- September 4, 2009
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Byline: babalu03
Bibby Transportation Finance, a subsidiary of Bibby Financial Services, said today it provided $100,000 in freight bill funding to a Phoenix-based courier service that faced severe financial pressure after its bank refused to expand its credit line during a downturn in business.
Trucking companies continue to feel the pinch of the credit squeeze leaving them with gaps in their cash flow that need to be filled, said Eric Hunter, managing director of Bibby Transportation Finance. Although we are starting to see the industry stabilize, many trucking companies are struggling to find the balance that will allow them to grow their businesses ...