Press Releases
Bibby Financial Services Launches New Transportation Finance Division
Bibby Financial Services launches new Transportation Finance Division
Bibby Financial Services has expanded its U.S. business with the establishment of Bibby Transportation Finance, a dedicated division based in Nashville focused solely on the funding of trucking receivables. Uniquely, this new business complements its sister division, Bibby Distribution Services which is the largest family owned logistics company in the United Kingdom.
In addition to Freight Bill Funding with advances of up to 95%, Bibby Transportation Finance will also offer Bibby Fuel Cards with ATM access, compliance services ( fuel tax reporting & driver log auditing, etc), documentation drop-off and scanning services for drivers, permit services, cargo container insurance and many other services. Differing freight bill funding programs are available designed to ensure trucking businesses ranging from owner / operators through to fleets with 400 trucks can benefit from Bibby Transportation Finance funding. Trevor Patching, group chief executive officer of Bibby Financial Services said, “Over the last year we used our trucking experience within our group and researched the market and we believe we have developed an offering for trucking businesses they will find hard to resist. We see this division as key to our growth strategy and a reflection of our commitment to producing market leading funding products for the small to medium sized business community.”
Eric Hunter, chief executive officer of Bibby Transportation Finance, Inc., said, “I am truly excited about the opportunity to bring the expertise of Bibby, as the leading independent global receivables funder, to the trucking industry. With a team experienced in providing excellent customer service based in our full service office in Nashville we are open for business.”