When Edmonton‑based Barben Industries, a wholesale supplier of compressed air products, outgrew the space it was leasing, the company found a perfect new location to purchase. The 6,500 square‑foot office and warehouse space would enable the business to move from the cramped 2,800 square‑foot premises where it was operating. From the larger location, the company could provide excellent service to its customers and continue to grow.
Barben turned to BDC for financing to make the move possible. BDC recognized the company’s growth potential and provided high ratio financing with flexible loan repayment terms such as postponed principal payments and longer amortization periods for the purchase of the building and for some improvements to the space that would equip Barben to set up the warehouse according to its needs. With BDC’s flexible terms, Barben was able to protect its cash flow while realizing its expansion plans.
“Since the move, Barben Industries has seen a marked benefit directly related to the larger more efficient warehouse and shop facility,” says Barben’s manager of Business Development, Ben Matijon. Sales have increased by 8% and the company is on track to experience more than 20% growth. In addition, the company has been able to take on larger projects and expand its customer base.
For Matijon, BDC’s favourable interest rates and proactive and professional support team added up to complete customer satisfaction. “Our questions were answered in a timely fashion and options thoroughly discussed with careful regard to keeping our daily business running smoothly; BDC stepped up to the plate to make this a very stress‑free and rewarding experience!”