Daily News: July 24, 2015

IFA Reaches Out to Factors from China

The International Factoring Association, the largest association for the commercial finance industry, said it recently reached out to factors from China to further global connections and understanding. IFA coordinated a ten-day tour of factoring companies in the U.S., Canada and Mexico for professionals from the Commercial Factoring Expertise Committee of China Association of Trade in Service (CATIS) and other China-based factoring companies.

Each host location offered a two hour discussion on topics ranging from how factors position their business in the marketplace to the legal and regulatory environment in their country.

“The event was one of the most exciting we’ve organized, and was a tremendous success,” said Bert Goldberg, IFA Executive Director. “We all benefit from learning from one another and forging new relationships that will broaden our networks and help clients succeed.”

“We had hoped to come away with a better understanding of how to work with U.S., Mexico and Canada-based factors. We achieved that goal and so much more,” said Lihong Yang “It was a delight to meet professionals so willing to share their experiences and we look forward to working in partnerships in the near future.”

The networking event effectively set the stage for future collaborations, and helped educate factors on how factoring works and regulations in different countries around the globe. Feedback has been positive.

“We will be working more closely with CATIS in the future,” Goldberg said.