About BFI

The BFI is a financial institution that provides financial assistance to many business houses and other business activities in the Western United States. Also, it is principally an asset based lending institution. It was founded in the year 1957 in San Jose by Julius Lustig. Since then, it has shown a consistent growth and as a result, it is one of the most important financial assistance

providers in the Western United States. Also, it is one of the most successful financial institutions in Western U.S owing to its recycling of funds and the approach it has towards its customers. Though BFI is everywhere throughout the Western United States, its presence is more in the Silicon Valley. Let us see the mission of BFI in next part of our discussion.

 

The Mission of BFI

As far as the mission of BFI is concerned, it is to help its various customers to succeed and not just survive. Thus, every care is taken at the BFI that the products and services being offered are useful from every aspect. The institution accomplishes its mission by providing its various clients with prompt as well as the responsive business financing of the highest quality in the whole industry. This is the reason why the products and services being offered by the institution are tailor made so as to suit their different needs. Also, there are different types of products to suit the needs of different types of customers. By virtue of mission, the institution has been able to gain enough name and fame in Silicon Valley, San Francisco, Bay Area, Central Valley and the other areas of the Western United States.

David Drogos is the President and the CEO of the institution since the year 1983 and it is because of his policies and consistent efforts that the institution has reached such a height in the financial environment. Apart from him, all the staff of BFI is quite experienced and educated so that there is always an innovation going on at BFI. The customer relations are given the utmost

importance in BFI and that is why it has built long lasting relationships with its various clients. BFI also understands completely that the name to the success is the team effort. The head quarter of the institution is located at San Jose, California, in the middle of the Silicon Valley. Apart from this it has its offices in Washington, San Francisco, Utah and Los Angeles that comprises its different regions. Thus, it can be rightly said that the institution is adequately represented in the whole of the Western U.S. Let us now discuss in our next part of discussion, the various products and services being provided by BFI.

 

Various Products and Services Being Offered

As far as the different types of services and products being offered by the institution is concerned, BFI is offering many types of products so as to suit the needs of its various customers. It is to be understood here that BFI provides asset based finance loans from $100000 to $5 million, with revenues from $1 million to $60 million. Thus, it can be said that BFI is providing one of the largest loans to its various customers. The various products and services of BFI are:

Financing of accounts receivable: BFI is providing the finance against the account receivable of its customers so as to fulfill the temporary gap between the payments and the realization. Thus, it can be rightly said that this is basically a short-term financial assistance that is being provided by the institution to its various customers. The borrowing is done by way of the assignment by its various customers in favor of the institution. It is also to be understood here that the getting finance against the accounts receivable allows a person to purchase the inventory, financing the growing business needs, meeting the payroll requirements, and taking the various benefits of the trade accounts. Thus, it is a very important assistance that is being provided by BFI.

Financing the Inventory: BFI also provides finance for the inventory along with the finance against the account receivable. Both the above types of assistance can easily be used to purchase the new inventory in the case the business is to be expanded etc. The different types of inventory for which a person can easily get the financial assistance include the raw materials, the work-in-progress inventory, and the finished goods. So, adequate inventory can easily be maintained by the clients of BFI by means of finance that is being provided.

Financing the Equipment: Apart from the inventory, the BFI is also providing various types of loans etc for the purchase of equipment. The clients of BFI can easily go for the inventory line o credit as well as the capital expenditure line to buy the additional capital equipment.

Finance for the Technological Developments: Since BFI is quite rampant in Silicon Valley, it is very essential that the institution should have a technology assistance program and the institution does have it. This program has been designed specially for the emerging technology companies that lack the sufficient finance for the set up as well as the expansion. The financial assistance is provided to such companies with limited or no equity dilution.

The ARM program: The institution has developed a special product for the financing of the undercapitalized companies, government receivables, companies that have huge accounts receivables, and the other such related requirements. The above program is also used to finance even the small financial needs of its various clients.

Given above is the different type of financial assistance that is being provided by BFI to its various clients so that they can proceed faster on the track of growth.

So, bfi is Providing all the assistance

It can be easily said after going through the above discussion that BFI is providing all the required financial assistance to its various clients in the form of asset based business loans. Also, there are different types of loans that are available to its customers for fulfilling the specific needs. The mission of the BFI stands at enabling its clients to succeed and not just survive.