Daily News: February 5, 2013

CFA, IFG Announce Strategic Alliance

The Commercial Finance Association (CFA) and the International Factors Group (IFG) announced a strategic alliance to help increase awareness and understanding of the role of factoring and asset-based lending as an efficient way to provide capital to small and mid-sized businesses around the globe.

The new, global partnership outlines plans for CFA and IFG to coordinate efforts to enhance the value and benefits each organization provides to its members. As part of that linkage, CFA and IFG members will work together at CFA’s International Lending Conference in London, May 8-10 and IFG’s Conference on Asset-Based Lending and Supply Chain Finance on October 23-24, 2013 in Istanbul.

As part of the new relationship, CFA and IFG will combine their industry expertise and advocacy capabilities to work together to promote the adoption of effective, modern and streamlined, secured transaction laws around the world.

“By combining the synergies of our two organizations, this alliance will enable us to undertake a truly global initiative to help businesses, lending institutions and governments around the world gain a deeper understanding of how factoring and asset-based lending provides essential working capital to small and mid-sized businesses, supporting economic growth and job creation in every corner of the world in an efficient, cost-effective manner,” said CFA CEO Robert Trojan.

“We are pleased CFA and IFG have established a strategic partnership that will encourage mutual exchange of information of our respective organizations, allowing our members to gain additional business opportunities in markets around the world,” said IFG secretary general Erik Timmermans. “As the economy becomes more globalized, it is critical that trade groups such as ours combine forces to work together to promote our industry,” added Timmermans.