A new logistics business headed by a director with over 10 years of experience in delivery services needed a finance business partner which understood its requirements.
The company, which is in the business of providing logistics and delivery services across Singapore, has a team of experienced delivery drivers who are able to complete their delivery tasks within schedules thanks to their navigating expertise.
The logistics business secured a delivery contract from a reputable logistic and delivery player in the market. The business finance agreed with finance business partner Bibby Financial Services Singapore will provide immediate working capital to fuel its growth.
The logistics business was introduced to BFS Singapore by the director’s financial advisor, who was tasked with finding a business finance partner to support the ambitious new firm.
BFS Singapore’s Business Development Manager worked quickly with the advisor to structure a Notified Factoring Facility to support the newly-secured contract allowing the logistics business to move forward.
Joanne Ong, Business Development Manager at Bibby Financial Services, said:“ The director is an experienced specialist in the logistics and delivery sector, and they have secured a contract with a well-established customer.
“Even though this was a new logistics business, we were delighted to be able to structure the funding line and provide the business finance they needed to move the business forward and focus on achieving their goals.”
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