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The International Factoring Association (IFA) announced that Thirdmark Capital has been named a Preferred Ally Member. IFA Ally Membership is open to companies that deliver a diverse range of products, services, and solutions to factoring companies and contribute to the overall prosperity and advancement of the industry. IFA Preferred Ally Members surpass the typical Ally Member by providing discounts or specialised services exclusively for IFA members.
04/04/2024
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U.S. Bank today announced that it has teamed up with Levantor Capital to expand flexible working capital financing options for U.S. Bank clients.U.S. Bank offers a wide range of risk management and financing solutions to help firms improve their working capital along supply chains. In recent years, firms’ working capital needs have expanded in order to manage growing supplier networks across multiple jurisdictions, improve supplier resiliency and sales efficiencies.
04/04/2024
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Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp, announced today that their New York City commercial banking team closed a US$150m senior revolving credit facility for a premier New York - based finance company. The three-year facility includes a US$40m accordion feature. The recipient of the loan provides accounts receivable and factoring services. Valley is the Administrative Agent and Sole Bookrunner for the deal. The deal closed in conjunction with Valley’s syndications team which supports the bank nationwide.
03/04/2024
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Nippon Export Investment Insurance (NEXI), the Japanese export credit agency, has signed a reinsurance framework agreement (Agreement) with ECGC Limited (ECGC), the India’s export agency.The Agreement was signed between Mr. Sristiraj Ambastha (Chairman-cum-Managing Director) and Mr. Kazuki Hondo (Managing Executive Officer, Member of Board) at ECGC Headquarters in Mumbai, India on 29th March 2024.
03/04/2024
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nFusion Capital announced that Tree Buckingham has joined their team as EVP Head of Asset Based Lending (ABL). Buckingham is responsible for spearheading the strategic expansion of the ABL division. Demonstrating steadfast leadership and a commitment to client satisfaction, she will oversee strategic initiatives, underwriting portfolio credit management, and cultivate robust client and referral relationships while fostering a culture of excellence within the ABL team. She is based in nFusion Capital’s Austin, Texas headquarters.
03/04/2024
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Finyoz, a German specialised platform that brings together investors and companies to facilitate supply chain finance, has partnered with Currencycloud, a Singaporean multi-currency service provider.
03/04/2024
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Sabre Corporation ("Sabre" or the "Company"), a leading technology provider to the global travel industry, today announced that its indirect subsidiary, Sabre Securitization LLC, has increased the overall size of its existing accounts receivable securitisation facility (the "AR Facility") from US$200m to US$235m and extended its maturity date to March 2027.
02/04/2024
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The European Bank for Reconstruction and Development (EBRD) is providing a €10m unfunded portfolio risk-sharing instrument to Ukreximbank, the State Export-Import Bank of Ukraine, to unlock €40m of new financing for the private sector amid the ongoing war in the country.
02/04/2024
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Citi, a financial institution with a 62-year presence in the Dominican Republic, has structured two loans to facilitate local trade and working capital activities under Citi's Social Finance strategy. The loans, provided to Banco Popular Dominicano and Banco Santa Cruz, aim to offer working capital financing solutions that support the sustainable growth of small and medium-sized enterprises in the country.
02/04/2024
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Artis Trade Invest Fund (Liechtenstein) announces a new initiative for secured trade finance, providing short-term financing to European petrol stations. This financing line is designed to support the procurement of fuel supplies, ensuring stable and efficient operations.
02/04/2024
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Utah (USA)-based TAB Bank appointed Justin Hatch chief lending officer, effective immediately. In his new role, Hatch will oversee the lending activities of TAB Bank’s working capital lending products, including asset-based lending, factoring, lending partnerships, lender finance, small-ticket accounts receivable financing and commercial real estate.
02/04/2024
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Turkey’s fintech platform Faturalab and eBebek, a trailblazer in the mother and baby products industry, have partnered as part of a supply chain financing programme in collaboration with leading participation banks Albaraka Türk and Türkiye Finans. This agreement introduces innovation to supply chain operations, enhances financial services for eBebek's suppliers, and sets a benchmark for others in the sector.
02/04/2024
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The Commercial Bank of Ceylon (ComBank), based in Sri Lanka, has recently announced a new partnership with the International Finance Corporation (IFC) to enhance its supply chain financing (SCF) strategy, aimed at increasing lending to local SMEs.
02/04/2024
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In 2023, Brazil's fintech sector faces a significant challenge, with major players like Open Co and Nexoos experiencing a 60 per cent default rate on certain loans, according to The Rio Times. This rise in defaults has led to turmoil in the US$13.2bn FIDC market, pushing the delinquency rate up to 9.5 per cent from 3.5 per cent over six years.
02/04/2024
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IFC and DBS have signed a US$500m facility under IFC’s Global Trade Liquidity Programme (GTLP).
02/04/2024
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