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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
New Face of Factoring
Recourse Options (Risk)
Fees and Rates
Who Will Benefit:
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.
Compliance4All DBA NetZealous,
Event Link : http://bit.ly/The_New_Face_of_Factoring