An Overview of our Services
Bibby Staffing Finance
Bibby Staffing Finance combines receivables funding, payroll management, invoicing and more to provide an excellent back office solution for staffing companies.
Receivables Funding
Many businesses and business owners face the challenge of finding the capital to improve or increase the cash flow of the business, especially when in a growth cycle. We understand these pressures and our programs are geared to growing with you as a business. Unlike banks or asset based lenders, we look primarily to the assets of your business; our facilities grow with you and will not affect the ownership or equity of your business. We can provide funding against your receivables where you sell to businesses on credit terms. We fund temporary placements and can consider permanent placements. For details of our receivables funding solutions for other industries visit www.bibbyusa.com, and for our specialist solutions for trucking companies visit www.bibbytf.com.Payroll Management & Invoicing Services
We offer a comprehensive payroll management and invoicing services that take many of the headaches out of running the administration of your business. These services include;PAYROLL SERVICES
- Web based program
- Complete payroll preparation and processing
- Check printing at any location
- Timely tax deposits (Federal, State, Local)
- W-2's, including magnetic film
- Direct Deposits
- Worker's Compensation Program
- Debit Card Program
- 24-Hour Turnround
- Extensive Weekly and Quarterly Reporting, and Filing where appropriate
INVOICING SERVICES
- Invoice preparation and printing
- Integration with receivables funding
- Sales Reports
FULL BACK OFFICE
Includes the above payroll and invoicing services plus;- Extensive HR reporting
- Tracking of workers compensation
- Profit reporting by company, client and employee
ADDITIONAL SERVICES
- Discounted Insurance
- 401K and Retirement Planning Advice for Employees
Turning Accounts Receivables Into Cash
This is an easy process. For your initial funding you can either;- Complete the application form and fax to us on the number indicated on the application form, or email to sales@bibbystaffingfinance.com.
- If you wish to speak to one of our Marketing Representatives first, call us on 800-433-6539.
After your initial funding you will get the advances against your verified receivables within 24 hours.
Accounts Receivable Funding
This works by Bibby purchasing your receivables and advancing you up to 92% of the verified invoice value as per the agreement established between us. We can structure these transactions in two ways, at your choice;- Discount Pricing; This is where you have the advantage of a fixed percentage pricing for a certain period of time of the receivable remaining unpaid. This has the advantage in times of changing rates of giving you certainty over the costs of your facility.
- Availability Pricing; You will have a one time administration fee charge on you receivable to reflect the service we provide, and then a charge of prime plus a set percentage rate to the funds you use. This has the advantage of you being charged for what you use. So if there are times when you do not need to fully utilize your facility you will save significant amounts in fees. Few of our competitors offer this alternative pricing on this basis.
- Funding within 24 hours
- Dedicated, professional account executives operating a collection service for you; last year Bibby Financial Services collected over $5 billion in accounts receivables for over 6,000 clients
- Free credit check of your clients
- Management - issuing statements, verification and collection calls
- Online Access to your facility with full reporting
- Imaging - online access to images of remittances / checks received from your clients
- Credit Insurance - if required we can give you competitive pricing for credit insurance
Why Do So Many Companies Choose Bibby Financial Services?
- Solutions that are Industry Specific – Our experience in serving business as a group for 200 years has shown us the importance of designing solutions that are relevant to the industries we serve. From funding solutions to payroll management and back office the solutions offered by Bibby Staffing Finance have been designed solely with staffing companies in mind.
- Fast Funding – You will receive funds on your verified receivables within 24 hours of receipt either to your bank account. For initial fundings on new facilities we expect to have you funded within 3 to 7 business days of receiving your application and supporting documentation, the time depends up the size of your business. If you are wanting our Payroll Management and Invoicing solutions these can take a little longer to set up initially, around 10 to 20 days (depending on the number of employees).
- Competitive Rates – Everyone refers to their rates as competitive. We mean it. We typically save our clients at least 20% in fees over their existing receivables funder, often much more. Why? When you fund over $5 billion of receivables a year you have economies of scale you can pass on to your clients. Our payroll management services are extremely competitive, and as you grow you will save more money.
- Stability & Openness – We are financial stable and open with our information. Want proof? Ask for our parent companies annual report and we will provide it. Ask our competitors for their audited balance sheet... surely a funding provider will be willing to show you their financial strength? We are proud to be a member of the Bibby Line Group, which in 2007 celebrates the bicentenary of its founding.
To see the annual report for Bibby Financial Services, click here (PDF, 175KB).
To see the annual report for Bibby Line Group, click here (PDF, 313KB).
- Flexible – We do not have rigid credit policies; we will look at your business and your business's situation and work with you to develop a solution for your needs.
- Our Services – We offer more than just cash against your receivables; we offer you a professional collections service and additional programs such as Payroll Management and Invoicing, and Back Office Solutions.
- Variety – Whether you are a new start or in business for 70 years, whether you are a start up, as long as you sell to other businesses on credit terms of 60 days or less, we look forward to working with you. We can fund businesses from start up to facilities of $6 million funds advanced; we are happy to work with business in high growth mode, restructuring and / or Chapter 11 or D-I-P situations.
What Sort of Companies Do You Work With?
As long as you have not pledged your accounts receivable as collateral we can work with you. If they are pledged to another funder, lender, bank or other entity we will work with you to get these paid off by our factoring facility on the initial funding or subordinated. Companies are usually;
- Family owned businesses that do not want their personal assets secured as required by banking lines of credit
- Growing businesses that want a cost effective facility that will grow with them
- Businesses that have seasonal peaks and valleys
- Businesses that are restructuring in Chapter 11 or D-I-P
- Companies that are tired of overpaying for a poor service provided regrettably by some of our competitors
What Do I Do Next to Get Started?
We want to work with you and are looking forward to developing a program for your funding needs. If you are in contact with one of our Marketing Representatives already they will be glad to take you through the process, if not;
- Call 800-433-6539
- Email sales@bibbystaffingfinance.com
- Or fax a completed Application Form with supporting documentation to the appropriate fax number on the Application Form
We look forward to hearing from you!
Go to our Home Page
