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Wells Fargo Commercial Finance has recently provided US$110m senior credit facility to Mountain Ridge Capital (MRC) and Alpine Ridge Funding (ARF). Backed by Arena Investors, both MRC and ARF are independent asset-based lending and factoring providers on the North American market.
29/04/2024
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The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, commenced the first day of the 49th IsDB Group Annual Meeting with a series of strategic meetings and important signings.
29/04/2024
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Finacity Corporation, a White Oak Global Advisors Company, (Finacity) announced that it has successfully facilitated a US$150m receivables securitisation program for one of the world's largest air cargo operators.This transaction is structured as a multi-currency and multi-country transaction and includes billed and unbilled trade receivables originated by the company.Finacity acted as the administrator providing structuring and execution support and is responsible for ongoing program administration and reporting.About Finacity
29/04/2024
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The European Bank for Reconstruction and Development (EBRD) and Tajikistan have agreed to cooperate on gender equality and support for women’s entrepreneurship.
29/04/2024
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To increase access to finance for small businesses in Indonesia and boost digital inclusion in Thailand, IFC today announced an initiative with KB Kookmin Card Co. (KBC), a leading credit card-issuing company in the Republic of Korea, to support the company's small and medium enterprise (SME) and mobile financing growth in the two countries.
29/04/2024
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Leading online SME lender Capify has today secured a £100m credit facility from Pollen Street Capital (Pollen Street), an alternative asset manager dedicated to investing within financial and business services.The new facility will support the lender’s ambitious future growth plans and provide working capital to thousands of SMEs over the coming years.
29/04/2024
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In its ongoing commitment to establish factoring as a viable financing solution for Africa’s small and medium-sized enterprises (SMEs), thus bolstering their participation in intra-regional trade and industrialisation, the African Export-Import Bank (Afreximbank) and FCI recently held a two-day factoring conference in Harare.
26/04/2024
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Emirates NBD, in partnership with DP World Trade Finance, Enigio and iBind, has successfully completed the first-ever Proof of Concept (PoC) on Digitally Native Trade documents (hereinafter referred to as “Trade document”) with the application of Trusted Digital Identity. This unique milestone, achieved in collaboration with Enigio and iBind, represents a significant stride in leveraging technology to enhance global trade and financial services.
26/04/2024
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Yubi, the world's only technology company powering the end-to-end debt lifecycle, has announced a strategic partnership with MODIFI, one of Europe's fastest-growing B2B FinTech companies. This collaboration marks Yubi Group's entry into cross-border trade financing, reinforcing its commitment to democratizing access to capital and fostering inclusive economic growth.
26/04/2024
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Responding to popular demand, BCR has announced the addition of an Artificial Intelligence for Receivables Finance (AI4RF) seminar to its highly anticipated RFIx24 agenda.
26/04/2024
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Basware, a global leader in AP automation and invoice processing, has introduced AP Protect, an AI-powered solution that empowers finance teams to protect their organisations from the threat of profit loss, invoice errors and fraud.In 2023, Basware identified 10,800 incorrect payments made by companies for supplier invoices due to duplicate payments and fraud. This recovered the value of US$191m from a spend of US$245bn. On average, this prevented up to US$1m in losses for US$1bn spent by a company.
25/04/2024
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Apollo and MassMutual yesterday announced that MassMutual has become a minority equity owner in ATLAS SP Partners (ATLAS) and a capital partner to the ATLAS platform. ATLAS is the warehouse finance and securitised products business majority owned by Apollo funds. As part of the multi-billion-dollar commitment, MassMutual has also agreed to invest in Apollo’s asset-backed finance (ABF) franchise.
25/04/2024
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CaixaBank closed 2023 with a volume of assignments in factoring and confirming of more than €76,000m, a 2 per cent increase compared to 2022. This is the highest figure of the accounts receivable that the company has managed in a single year. Furthermore, this volume places the bank in first place nationally in this segment, with a market share of 28.2 per cent. According to data from the Bank of Spain, 89 per cent of working capital financing in 2023 has been carried out through factoring and confirming.
25/04/2024
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Shona Tatchell has been appointed as the new Director, Head of the Trade Facilitation Programme, at EBRD. She will start her new job on the 7th of May. Shona will take over the role from Rudolf Putz, who will be retiring at the end of May.
25/04/2024
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While lenders experienced subdued demand for factoring in 2023, reflecting soft consumer retail spending and a cautious retailer approach to inventory management, the Secured Finance Network (SFNet) Year-End Factoring Survey found that overall factoring sentiment improved somewhat last year, up 6.0, to 64.8, where 50 indicates a neutral outlook. The report attributed improved sentiment to the U.S. economy’s strong position at year’s end and a persistently solid labor market, which continued into the second quarter of 2024.
25/04/2024
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