A chartered bus services provider which wanted to expand its presence in the sector found cash flow problems were preventing the opportunity to invest.
The company had been providing chartered bus services for more than five years to a diverse customer base that includes local city tours, school tours, shuttle bus services and commercial pick up. Coaches are available from 13 to 49-seaters to cater to their customer needs.
As the company continues to expand its presence in the commercial chartered bus services sector, Bibby Financial Services Singapore has been was brought in to provide the company with our solutions to cash flow problems.
The company required the funding line to shorten the gap between their overheads commitment and debtor payment, which usually takes 60 days. BFS Singapore swiftly provided a $500k funding line to the business, which injected immediate working capital and relieved the cash flow problems.
An experienced BFS Singapore client manager was assigned to the company to provide it with a dedicated and responsive service.
The company secured more opportunities and contracts amid the Covid-19 pandemic and required a higher funding limit of $1 million to fund their growth.
Happy to support the growth of this client, the BFS Singapore client manager said: “I am glad that we can continue to provide personalised and flexible funding solution by getting to know the client’s business and their evolving needs.”
Discover our funding solutions to cash flow problems.