Ken Hitzig CEO Accord Financial Corp. has reported record activity in one of its wholly owned subsidiaries JTA Factors Inc., a recourse factoring company based in South Carolina. With growth of over 50% in 1999 and more moderate growth in 2000, he attributes the success to low overheads, competitive pricing and the fact that they have been around for over 20 years.
Looking forward Hitzig states that both JTA and Montcap Financial, a recourse factoring company based in Canada, will probably both double their size over the next three years. However, he goes on to say “there’s a cloud on the distant horizon, and that is, there’s always the threat of a recession”.
Source: Business Wire
