April 2008
Factoring in Good Times & Bad…
The Magic Continues

When Purchase Order Financing Saves the Day
By Paul D. Schuldiner & Ira J. Edelson, Transcap Trade Finance

While other forms of financing may prove to be complex, turning to a purchase order financing company could be what a business needs to bridge the deal and get back on track.

(Ref # FAC073)

CIT Celebrates 100-Year Mark
By Ann-Margret Crater, CIT Trade Finance

As CIT celebrates 100 years in business, and demonstrates itself as a “father figure” to the industry, the company offers a historical perspective as well as a look into the future of factoring.

(Ref # COMP028)

Wells Fargo Century’s Pizzo Reflects on an Illustrious Career & Passes the Baton
By Stuart P. Papavassiliou, Senior Editor

To call Tom Pizzo’s career in factoring illustrious is, in fact, no exaggeration. Pizzo candidly shares the events of a career that parallels the changing dynamics of the factoring industry itself. Following the pathway forged by Pizzo could be a formidable task … but not for Stuart Brister, who has factoring in his blood. (Ref # EXEC056)

Factoring in 2008 and Beyond — GMAC Aids Borrowers in Challenging Times
By Don Morrison, GMAC Commercial Finance

To aid clients in the tough year ahead, GMAC has developed two products — Receivables Management Services and Distressed Portfolio Services — to provide nontraditional factoring applications for use industry-wide. (Ref # FAC075)

The Current Market for Cross-Border Asset-Based Finance
By Graham Wedlake, Taylor Wessing

As the credit crunch continues to bite on both sides of the Atlantic, businesses are increasingly focusing on their asset base as an alternative source of stable funding. (Ref # INTL039)

Special Series

Private Equity Marketing’s New ‘Special’ Delivery
By Thomas Bonney, CMF Associates

Many Main Street retailers may have been rendered redundant by “category-killer merchandisers,” but private equity funds that act now to strengthen their specialized identities may reap a more positive outcome. (Ref # IND111)

Profiles of Success

Rosenthal & Rosenthal Sees Opportunity in Today’s Challenging Market
By Christopher Moraff, Associate Editor

For 70 years, Rosenthal & Rosenthal has weathered the ups and downs of the American economy to establish itself as one of the top-five privately held companies in New York. (Ref # FAC076)

BB&T Factoring Continues its Successful Path
By Amanda L. Gutshall, Assistant Editor

As president and managing director of BB&T’s Commercial Finance – Factoring Services division, Darren Linder knows the factoring industry, sees where it’s going, and takes pride in helping his company grow. (Ref # FAC077)

Crestmark Bank Helps Companies Spread Their Wings
By Christopher Moraff, Associate Editor

After spending more than two decades with one Michigan bank, David Tull decided it was time to charter his own. Today, Tull’s Crestmark Bank capitalizes on its flexibility to help companies in niche markets across the country obtain financing to grow. (Ref # FAC078)

Liquid Capital’s Focus on Customers’ Needs Makes for Steady Growth
By Amanda L. Gutshall, Assistant Editor

In business for just shy of a decade, Liquid Capital is on track for consistent growth both in the United States and in its main territory of Canada. Speaking with Sol Roter, co-founder and president of Liquid Capital, one can tell that he’s passionate about factoring to his clients. (Ref # FAC079)

Columns

TURNAROUND CORNER
Expectations and Communications in Distressed Sales
By Jeff Jones, Barrier Advisors

In the final article of his three-part series for ABF Journal, Jeff Jones places emphasis on the need to communicate expectations and results when selling a company in a distressed sale.

(Ref # TM079)

LEGAL EYES

A Perfect Storm for Factors & Asset-Based Lenders
By Steven Kurtz, Levinson Arshonsky & Kurtz

Although the economy is of concern to both lenders and borrowers, the current market may still provide multiple opportunities. Levinson Arshonski’s Steve Kurtz highlights what parties should do during takeovers, defaults and when performing portfolio checks. (Ref # LGL083)