Here’s your Factoring Industry Updates including the latest news and 2012 factoring conference schedules.
Factoring News
Leading Factoring Company Acquired by Triumph Savings Bank
Membership interest of Advance Business Capital LLC, one the nation’s leading finance companies in the for-hire transportation arena, has been acquired by Triumph Savings Bank, SSB. Formerly know as Equity Bank, Triumph is moving out of the restructuring phase and now looking to grow the institution by acquiring specialty finance companies like Advance Business.
Source: http://www.prweb.com/releases/2012/1/prweb9130992.htm
Factoring Service Demand Drives Record Setting 2011 for Liquid Capitals
Liquid Capital, the only full-service factoring company in the franchising industry, grew by 45 percent in the U.S. from 2010 to 2011, and saw an increase of 20 percent in Canada, following a trend that started in 2009 with a 30 percent year-to-year increase in volume.
The increased demand for Liquid Capital’s factoring services mirrors a worldwide trend that shows factoring volume is up 62 percent over the last five years. Factoring provides businesses across an array of industries with immediate financing secured by credit-worthy account receivables.
“The variety of industries we serve is proof that tightened bank lending restrictions are affecting every type and size of business,” said Brian Birnbaum, founder and director of Liquid Capital. “Statistics show that nine out of ten businesses that apply for a bank loan are getting denied—and that’s why they’re turning to us.”
Source: http://www.pr.com/press-release/386885
Factoring Conferences 2012
FactorFox Announces First Conference April 16-18, 2012
FactorFox, a leading web-based software provider for factoring companies and their clients, will be holding their first ever conference. It is scheduled to occur just prior to the IFA Conference in Huntington Beach, CA.
Registration is open to current FactorFox subscribers, those with trial subscriptions, and anyone considering using the software in their factoring business. Cost is $150 for the first person from a company and $100 per person for additional attendees from the same company. For more information visit FactorFox Conference.
18th Annual IFA Factoring Conference April 18-21, 2012
Want to mingle with over 600 factoring company professionals and 45 exhibitors? Then it is time to make plans for the Annual Factoring Conference at Hyatt Regency Resort in Huntington Beach CA from April 18 -21, 2012.
Hosted by the International Factoring Association, this is the world’s largest conference dedicated to banks and finance companies offering factoring and receivables financing.
There are numerous speakers, round tables, receptions, and even opportunities to earn CPE and CLE credits. Sponsors include RMP Capital, Bibby Social, Tax Guard, and other exhibitors.
Registration is available online for $1045 for the first attendee and $995 for additional attendees. The factoring conference is also open to non-members for an additional $100 per attendee.
For more information visit IFA Factoring Conference 2012
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