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Demica, one of the world’s largest providers of supply chain finance SaaS solutions, has partnered with Lenovo’s channel solution and service team to co-develop and enhance the distributor finance platform, allowing Lenovo to provide extended services to its distributors.
17/05/2023
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Yerbaé Brands Corp. (Yerbaé) announces today that it has secured a new accounts receivable and inventory line of credit of US$2.5m (Debt Facility) from Oxford Commercial Finance (Oxford Bank), a Michigan banking corporation, through its Delaware subsidiary Yerbaé LLC. The Debt Facility replaces the company’s prior credit agreement, is an upgrade to bank debt, and will help Yerbaé fuel its growth and support its ongoing operations.
17/05/2023
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FGI Worldwide LLC has announced the hiring of Paul Bower (pictured) as Director, FGI Technology. Based in London, Mr.
17/05/2023
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In the world of trade finance supply chain problems tend to refer to long payment delays caused by a stream of interconnected buyers and their suppliers.
16/05/2023
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A Supply Chain Finance facility has been developed by the state-owned Indian Bank. The programme, which was launched last week by Shri. S.L. Jain, MD & CEO, Indian Bank, will provide corporate suppliers and dealers with access to short-term working capital financing.
16/05/2023
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Germany’s growing factoring industry accounted for almost 10 per cent of the country’s GDP in 2022, according to the latest figures from the German Factoring Association. While Germany’s price adjusted GDP grew by 1.8 per cent in 2022, the factoring industry soared in volume by 20 per cent to €372.9bn. The result was that its GDP penetration ratio rose to an all-time high of 9.7 per cent.
16/05/2023
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Standard Chartered and the world’s largest merchant acquirer, Worldpay from FIS®, have announced a strategic partnership to expand the market coverage of, and enable new capabilities on, Straight2Bank Pay, the Bank’s one-stop digital collections gateway for merchants.
16/05/2023
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“…banks and fintech partnerships are increasing,” John Omoti, Bank of China Ltd., London Branch
15/05/2023
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The Economic and Financial Affairs Committee of the Senate of Côte d'Ivoire has adopted a uniform law in the West African Monetary Union (UEMOA) area to facilitate the financing of small- and medium-sized enterprises (SMEs). The new law, which is related to factoring, was adopted unanimously by the members of the commission after a presentation by the Minister of Economy and Finance, Adama Coulibaly.
15/05/2023
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There are signs of confidence returning to the UK’s 5.5m small and medium-sized businesses and the lending market they rely on, iwoca’s latest SME Expert Index finds.
15/05/2023
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Lendscape, the world's leading technology provider for all forms of secured business finance, today announced that it has become an official member of the Federal Association of Factoring for SMEs (BFM) in Germany. The announcement follows Lendscape’s hiring of key roles to support the region, showing their commitment to the German market.
15/05/2023
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MonetaGo, the world’s leading provider of best-in-class fraud detection and prevention solutions for trade finance, has selected Lloyd’s List Intelligence as a data partner to strengthen its real-time interruption of fraudulent trade financing attempts through the authentication of key trade documents.
15/05/2023
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Some Turkish factoring companies have charged record rates for their facilities before this weekend elections. The charges (commissions and interest) reached in some cases the record of 70 per cent. The average cost of funding is 55-60 per cent up from 30 per cent in February, according to Reuters.
12/05/2023
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I receive each Friday a comprehensive set of charts from www.marketdeskresearch.com that are always interesting to review.
12/05/2023
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J.Jill, Inc. (J.Jill) announced that it has successfully completed the refinancing of its asset-based revolving credit facility (ABL), which was previously set to expire in May 2024. The new facility comes in the form of the sixth amendment to the ABL Credit Agreement with CIT, a division of First Citizens Bank, as the administrative and collateral agent.
12/05/2023
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