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CIT Commercial Services Forms Alliance with Cyber Merchants Exchange

The US’s largest provider of factoring services, CIT Commercial Services, has announced that it will form a strategic alliance with Cyber Merchants Exchange. The avowed mission of Cyber Merchants Exchange is to use its web-based software to create a global...

#CIT#CIT Commercial Services#e-commerce

Finova to Sell Commercial Service Group to GMAC

The Finova Group has today announced that it has signed an agreement to sell its commercial services business (which provides…


Rate of Growth in US Slows

The Federal Reserve’s latest survey on regional economic conditions indicates that the rate of growth in the US has slowed…


Venture Capitalists Remain Optimistic

US venture capital financing has slowed slightly in the second quarter, but still remains at record levels of about US$1bn…


Potential Impact of Change in SEC Disclosure Rules

A new rule is proposed by the US Securities and Exchange Commission to stop companies giving favoured analysts and investors…


US Factoring Industry Snapshot From HSBC President, John Heffer

There have been unprecedented numbers of mergers and acquisitions in the US factoring industry in the last 12 months, with…

#bank#BCR Publishing#CIT


Have Industry Mergers and Consolidations Damaged the Factoring Industry?

Consolidation among companies that provide finance for small businesses is making it harder for companies to get cash, reports the…


Finova In Trouble

Finova Group Inc. retained Credit Suisse First Boston to review strategic alternatives, including a possible sale, due to short-term financial…

MetroCorp BancsharesInc. Records a $5.3m Factoring Receivable Charge-Off

MetroCorp Bancshares Inc. announced that Advantage Finance Corporation, the factoring subsidiary of MetroBank N.A., has reportedly been the victim of…

#3M#bank#interest rates

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