The Commercial Finance Association has rebranded as Secured Finance Network (SFNet) in time for its 75th anniversary, underscoring the industry’s crucial role in providing secured financing to businesses and driving economic growth worldwide. The international association’s tax-exempt affiliate, CFA Education Foundation, has also changed its name, to Secured Finance Foundation.
A Foundation study this year revealed the impact of secured commercial finance in the U.S. for the first time. The industry delivered more than $4 trillion in secured financing to more than 1 million U.S. businesses in 2018, affecting an estimated 20% of the gross domestic product (GDP), directly or indirectly.
The research provided other insights into the market, which encompasses related, but distinct, segments of finance including asset-based lending, factoring, supply chain finance, equipment leasing and finance, leveraged and cash-flow loans, and asset-backed securities. More research findings will be released quarterly.
“Last year, the association announced its intention to rebrand over an 18-month period. We’ve completed the transition, just as we are preparing for our 75th anniversary celebration, Nov. 13 to 15 at the SFNet Annual Convention in New York City,” said CEO Richard D. Gumbrecht.
The organization also has launched a new website.
David Grende, SFNet president and CEO and president of Siena Lending Group, added, “I’m excited about the future of Secured Finance Network. The new brand preserves those attributes that our members highly value – networking, valuable data, relevant education and advocacy – and reinforces the characteristics of our diverse community, which is forward-looking, welcoming and dynamic.”
Jennifer Palmer, SFNet Marketing Committee chair and president of Gerber Finance, added, “Over the years our association has served a wide range of professionals with programs, events and resources that have often been separately branded, making it difficult for people to understand our breadth. The new master brand is unifying, allowing us to present our offerings more coherently.”