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Provident Financial Services, Inc. (Provident) announced yesterday that its merger with Lakeland Bancorp, Inc. (Lakeland) was completed, creating the premier super community banking franchise in the region. The merger of Lakeland Bank with and into Provident Bank has also been completed.
17/05/2024
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Supply@ME joined forces with VeChain to revolutionise supply chain financing (SCF) for small and midsize enterprises (SMEs).
17/05/2024
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The European Bank for Reconstruction and Development (EBRD) is boosting Palestinian export and import activity by providing an additional US$3m to its existing trade finance line with Quds Bank. This brings the total available to US$15m.The trade line increase comes at a crucial time for Palestinian businesses, particularly since the war in Gaza, which started in October 2023, is heavily impacting the Palestinian economy.Quds Bank has been an EBRD client since 2019 and is one of the most active banks in the region in terms of using the EBRD’s trade finance lines.
17/05/2024
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Paragon Bank’s SME Lending division has facilitated a £2.75m funding solution to support Shilling Group’s acquisition of Telford-based specialist logistics company Simmonds Transport.
17/05/2024
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First Capital Bank (FCB) in Zimbabwe has received from African Development Bank (AfDB) US$15m trade finance package to help bolster intra-African commerce in line with the goals of the Africa Continental Free Trade Area (ACFTA).
17/05/2024
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On the sidelines of the recently concluded 2024 Islamic Development Bank (IsDB) Group Annual Meetings and Golden Jubilee Celebrations, African Export-Import Bank (Afreximbank or “the Bank”) concluded arrangements for a facility of US$250m with the International Islamic Trade Finance Corporation (ITFC) and US$100m with the Islamic Corporation for Development of the Private Sector (ICD) in support of trade and projects in Africa.
16/05/2024
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Lendscape, the market-leading provider of commercial finance technology, today announced the launch of Lendscape CONNECT, a revolutionary solution designed to widen access to invoice finance by removing the traditional barriers involved for lenders and their clients.
16/05/2024
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Research from independent SME funder Bibby Financial Services (BFS) finds that women business leaders are facing gender inequality in commercial lending, which is hampering the growth ambitions of many SMEs.
16/05/2024
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According to the latest figures, the European factoring industry experienced continuous growth in 2023, but at a slower rate compared to previous years. The total factoring turnover for European countries reached €2,44bn, with a year-on-year growth rate of 2.1 per cent.
15/05/2024
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Surecomp is pleased to announce a partnership with MineHub Technologies, a leading provider of digital supply chain solutions for the commodity markets. This collaboration will see the MineHub platform embedded into Surecomp’s innovative and award-winning RIVO™ solution, to revolutionise digital trade finance specifically for the commodities sector.
15/05/2024
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An apparel company found itself in need of importing merchandise from China ahead of a substantial seasonal demand. With the looming Chinese New Year, they encountered both financial and time-related pressures. To expedite the process, a factoring company recommended Gateway Trade Funding as a solution.
15/05/2024
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eCapital Corp. (eCapital), a leading tech-enabled finance provider specialising in tailored solutions for businesses across North America and the United Kingdom, funded an US$18m asset-based lending (ABL) facility for a leading commercial linen services company. This transaction not only demonstrates eCapital’s commitment to supporting mid-market businesses but also highlights the value of its industry expertise in providing timely financial support to a business at a crucial turning point.
15/05/2024
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FRP has announced the acquisition of the commercial finance and risk management specialist Hilton-Baird Group, as the company continues to expand its support for clients nationally.Southampton-headquartered Hilton-Baird provides commercial finance and credit insurance brokerage, outsourced risk and receivables audit, as well as credit management and commercial debt collection services to a national client base.
15/05/2024
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London-based specialist lender Simply Asset Finance has reached a significant milestone, posting a record annual revenue of £52.3m for the fiscal year 2023, marking a remarkable 37 per cent increase from the previous year.
14/05/2024
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Italian export credit agency SACE has inaugurated a Singapore office to facilitate Italian companies in capitalising on burgeoning trade and investment prospects throughout Southeast Asia. The new establishment will oversee more than US$8bn worth of upcoming projects in the Southeast Asian region.
14/05/2024
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