Fleet Management

Bibby Transportation Assists the Trucking Industry

August 17, 2009

SHARING TOOLS        | Print Subscribe
Bibby Transportation Finance, a subsidiary of Bibby Financial Services, has provided $2.7 million in new credit facilities in June and July to help small- and medium-sized trucking companies
that are using accounts receivable financing to buy equipment, start new businesses and cover their costs of doing business.

"With this increased activity, we are seeing trucking stabilize, which suggests that the worse of the recession is over, and the transportation sector may soon begin to recover as consumer confidence and spending increases," said Eric Hunter, executive vice president and managing director of Bibby Transportation Finance. "We think the benefits coming from the effect of reduced capacity in the market are driving higher rates per mile, which is increasing bottom line results. And while it's too early to make a definite call, we are hearing a more upbeat and optimistic outlook from our clients who are seeing increased demand for their trucking services."

The credit facilities went to 11 trucking companies across the U.S.

"Trucking companies face diverse cash flow problems," Hunter said. "With our experience specialized focus in this industry, we are able to tailor our accounts receivable financing programs to fit the individual needs of our clients."

More info: www.bibbyfinancialservices.com.

Comment On This Story

Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


We offer e-newsletters that deliver targeted news and information for the entire fleet industry.


ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All