Banks and their subsidiaries provide the majority of factoring services in Spain, and some have integrated factoring departments within their banking structure. Only three of AEF’s membership of 20 factors are bank-owned. When factoring was first introduced in Spain, there were no independent factoring companies and it was offered by banks as part of the overall financial services package. In the case of recourse factoring, its marketing was based on the solvency of the seller rather than on selling procedures and documents, or on debtor quality.
