The American Factoring Association (AFA) reported the retirement of Allen Frederic, the organization’s first board president and long-serving board member. Frederic was instrumental in the formation of the AFA in 2009.
David Rains, president and founder of Commercial Finance Consultants, passed away last week at the age of 64 due to complications from COVID-19.
Allen Frederic joined Infinity Financial Group as managing director. With 47 years of experience in commercial banking, asset-based lending, factoring and M&A, Frederic will use his experience to find solutions for his clients.
In mid-2009 when the economy was still mired in a long, hard recession and just beginning to work its way out, members within the International Factoring Association decided it was time to launch another branch to stave off onerous regulation of their non-regulated companies. The result became the American Factoring Association.