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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.Gateway quickly and efficiently provided a US$2.5m purchase order facility, enabling the company to acquire the necessary merchandise well in advance of the Chinese New Year and their peak seasonal demand.
22/02/2024
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Manchester-based fintech BankiFi partners with Praetura Ventures (Praetura), to boost SMEs access to funding by offering a new lending-as-a-service solution. The cooperation will allow Praetura to use BankiFi’s tech platform to offer invoice and asset finance to SMEs underserved by traditional high street banks.
22/02/2024
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1st Commercial Credit, LLC has closed a US$2m factoring facility for a rapidly expanding pallet manufacturer in the Mid-West region. The start-up pallet firm initially secured funding from a smaller factoring company but eventually surpassed the financial limits of their original partner. This led to the exploration of new financing options, ultimately resulting in the discovery and selection of 1st Commercial Credit.
22/02/2024
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BizCap, a commercial finance firm established in 2002, has announced its successful collaboration with an industry-leading business in the beauty space. The beauty company has successfully provided premium high-performance tools tailored to the modern woman's lifestyle for over 15 years. BizCap helped the company secure a US$10m asset-based line of credit to refinance existing debt and fuel future strategic growth initiatives.
22/02/2024
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The receivables finance industry is configured as a key element capable of offering easier access to credit for many businesses that are struggling in the current economic context. Luiza Buserska (pictured), trfnews Editorial Board Member and Corporate Communications Executive, CODIX
21/02/2024
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Rosenthal & Rosenthal, Inc.(Rosenthal), a leading factoring, asset based lending, purchase order (PO) financing and inventory financing firm in the United States, has announced the completion of two recourse factoring transactions, totalling US$5m along with an additional US$2m purchase order financing facility.
21/02/2024
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Singapore-based fintech platform Xalts, backed by Accel and Citi Ventures, has announced its acquisition of Contour Network, previously owned by a consortium of eight global banks including HSBC, Standard Chartered, and BNP, with a focus on digitising trade.
20/02/2024
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Finacity Corporation (“Finacity”), a White Oak Company, today announced that it has facilitated the funding of more than US$1trn of trade receivables over the past 5 years on behalf of its clients.
20/02/2024
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Maybank has announced its plans to disburse approximately RM18bn (US$208.4m) in SME financing for the year 2024, marking a 13 per cent increase from the previous year. This initiative aims to expedite the transition of its customers towards more sustainable and viable business operations.
20/02/2024
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Just over a year since their partnership began, DP World Trade Finance, with support from Etihad Credit Insurance (ECI), has facilitated over AED1bn (US$272.3m) in non-oil-based trade, boosting international trade and supporting the UAE’s export economy.
20/02/2024
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CredAble, a leading FinTech player in supply chain finance and SBI Global Factors Ltd. (SBIGFL), India’s premier factoring company, announced their strategic business partnership.
20/02/2024
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The Polish factoring industry concluded 2023 with a marginal 2.3 per cent decrease in turnover. However, this decline is an improvement from the 3.3 per cent recorded at the end of the third quarter, indicating a gradual recovery in the market.
19/02/2024
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Mollie, one of the fastest growing financial services providers in Europe, today announced the UK launch of Mollie Capital – a fast and flexible way for SME merchants to access funding. Mollie Capital gives UK retailers the opportunity to bypass traditional lenders and access up to £250,000 to help drive growth.
19/02/2024
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The International Islamic Trade Finance Corporation (ITFC) and Asia Alliance Bank have inked an agreement to bolster trade financing for Uzbekistan's private sector, particularly small and medium-sized enterprises (SMEs).
16/02/2024
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Taulia, a leading provider of working capital management solutions, has announced its collaboration with International Finance Corporation (IFC), a member of the World Bank Group, to build sustainable supply chain finance programmes for small and medium-sized enterprises (SMEs) in emerging markets.IFC is Taulia’s inaugural multilateral funder and adds to its already large and growing multi-funder network, which enables the business to access an increasingly broad and diverse funding pool.
16/02/2024
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