Cutfin, Absa's debtor finance house, has joined the ranks of almost 150 companies in more than 50 countries by becoming a member of Factor's Chain International.
Mike McNeill, Cutfin sales and marketing head, said: “As more and more companies gear up to start exporting, they seek markets in Europe and the Americas. We see a big need and trend towards cross-border financing.
“By joining Factor's Chain International, we now have immediate representation in member countries, which in return gives our clients access to finance and the flexibility to trade without the bad debt risk.” Cutfin MD Ryker Stoltz said: “The local market is dominated by major banks, and factoring is seen as a lender of last resort to companies who are one step away from hitting the deck.
