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Webinar on The New Face of Factoring
Today, factoring is a $200 billion dollar industry. It is better known in Europe than in United States. In Europe it is primarily used as a source of funds for un-bankable businesses. However, Canada is considering mandating that their banks refer clients that they turn down for loans to factoring companies.
Why should you Attend:
Companies should push their bank to consider factoring as a viable lending component to any financing program. Small to mid-sized companies, who are crying out for working capital, make up a ready market for factoring.
Companies should not use factoring to replace bank lending. Rather, it should be a complement to the bank's full set of offerings. Companies that engage in factoring, with banks or with other financers, should expect to pay double-digit annualized rates for the convenience of immediate cash payments.
Banks that enter or re-enter the factoring business also should be aware that unless they take advantage of the technologies and automated applications now available, factoring will still be a paper-intensive process.
However, with the new automation and better electronic processing, the risk is manageable for both sides.
Areas Covered in the Session:
- Myths and Realities
- When Should Businesses Factor?
- Fragmented Market Place
- The (Missing?) Link to Receivables Management
- Interesting alternatives
- New Face of Factoring
- Factoring 201
- Recourse Options (Risk)
- Fees and Rates
Who Will Benefit:
- Corporate treasurers
- Bank lenders
- Business development bankers
Ray Graber has a deep and thorough understanding of banking, technology, and finance. His business experience includes banking technology research at TowerGroup; best practices internet security, policies, and procedures at FleetBoston Financial; wire transfer operations and product launches at Citibank and BankBoston; and treasury operations for a $325 million public company.
If the Webinar on The New Face of Factoring is important to your business, act now and make the appropriate connections. See the contact information below.
Business development bankers
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