A Factor in Your Success® HOT FACTORING NEWS

Thursday, March 12, 2009

Traditional Lines of Business Credit are Elusive--Unless You’re Factoring

Traditional Lines of Business Credit are Elusive--Unless You’re Factoring

By SEO Factor

It might just be the worst lending climate in the past two decades. Banks are refusing to renew lines of credit and they’re calling in loans. Decades-old family businesses that are current on payments get no preferential treatment--and new businesses get even less. Those who rely on mortgage financing aren’t doing any better. In fact, thousands of business owners--many of them young and minority entrepreneurs--suddenly have no place to turn for capital. Business lines of credit have been rescinded or refused, leaving businesses without the financing they need to expand or even to remain solvent. Can factoring be the proverbial light at the end of the tunnel?
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Wednesday, February 4, 2009

Platinum Funding UK Commands Momentum

The credit crunch is on. Lenders have stopped lending. Credit has become extremely tough, almost impossible, to obtain. And the general feeling among banks and traditional lenders can be boiled down to one word: Fear. Lenders fear that they will book big losses on future loans because they're taking such a beating on existing ones. This fear is making them reluctant to lend--and small to medium-sized businesses are feeling the brunt. Forget about expansion; without working capital, businesses are struggling just to remain solvent. But there are exceptions. Platinum Funding US and UK are poised to partner with businesses to help them meet, and exceed, their strategic goals.Read more

Tuesday, October 21, 2008

Platinum Funding Group Shakes the Software Market via a $13M Factoring Facility with Prismtech

A Multinational Client Finds a Powerful Partner for Growth

Platinum Funding Group continues its course as a powerhouse of the accounts receivable factoring by offering outstanding alternative cash flow funding solutions to burgeoning high-tech and IT industries. As activity in these sectors continues to grow, Platinum Funding Group is proud to announce its ongoing presence in the software market via a $13 million cross-Atlantic funding agreement with PrismTech Corporation (“PrismTech”). Platinum provided a $9 million factoring facility for PrismTech’s US operations located in Burlington, Massachusetts, US and $4 million for the Gateshead, UK branch. The UK portion of the financing is provided though Platinum Funding UK Limited, Platinum Funding Group’s UK operation. This double-decker factoring financing deal shows Platinum’s versatility in providing financial solutions internationally. Read More...

Tuesday, October 14, 2008

Energizes Compsec Electric Corporation With $12 Million Factoring Facility

NEW YORK (October 14, 2008) — Platinum Funding Group, a premier factoring provider, signed a $12 million accounts receivable factoring agreement with Compsec Electric Corporation. Compsec is a Long Island City, NY-based licensed electrical subcontractor looking to solidify its place in the market with reliable invoice financing. Platinum will provide ongoing invoice factoring and efficient AR management services to Compsec that will streamline the company’s cash flow, ensure sufficient working capital, and help it compete with other major players in their industry. Read More.

Monday, June 30, 2008