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Americas

Country’s third largest factor receives ratings boost

Grupo Security, the financial services conglomerate and owner of Factoring Security, the third largest factor by market share in Chile, has had its ratings confirmed by Feller Rate. Banco Security, Grupo’s bank unit, has also had its ratings confirmed. Both...

#bank#bonds#financial services

Bancomext loans up 10%; most to SMEs

Mexico's national foreign trade bank Bancomext issued US$2.1bn in loans to support export activities in the first five months of…

#bank#exports#smes


Corporate contemplates an expansion into factoring

Hairmax International, a beauty products group, is seeking to partner or invest with a company that provides financial services to…


Credit insurer refunds $6.5m to overcharged customers

Assurant Group companies have agreed to return about $6.5 million for charging what Maryland's insurance commissioner calls excessive rates for…

#compliance#insurance#Paid


Legal suits against US factor gather pace

Three pastors and a church employee have joined a growing list of inland investors looking to the courts to recoup…


Public company bankruptcies are at lowest number in six...

Approximately 110 public companies will file for bankruptcy in 2004, substantially fewer than in any of the past six years,…

#bonds#interest rates#international


Small businesses more vulnerable to bad debt – Atradius

The risk of bad debt is an inevitable fact of business life; however, the impact of a major irrecoverable loss,…

#Atradius#insolvency#invoice


Government creates new export insurance

Ecuador's government has created a new credit insurance to protect domestic exporters and to provide increased information about buyer's credit…


Syndicate in US$35m export finance facility

Brazilian Banco Santos has obtained a US$35m secured revolving export finance facility from a syndication of international financial institutions, according…


Financial veterans launch new asset-based lending venture

A new asset-based lending firm has been founded by long-term Dallas lenders James E. Casper, Michael D. Haddad and Jim…


Factoring executive gets four-year sentence for fraud

An executive of National Century Financial Enterprises Inc. will spend four years in jail for her role in the alleged…


Top 10 factors assets total Ps 10,446

Following the 1994-95 peso crisis, factoring firms (empresas de factoraje financiero) struggled to restructure their own debt and faced portfolios…

#banks#crisis#non-recourse factoring

Carma Financial Services Corporation acquires debt recovery firm

Carma Financial Services Corporation (CFS), a provider of business-to-business accounts receivable management services, has announced that it has entered into…

#acquisition#financial services#management

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