• Empowering Factoring Excellence Worldwide

    The International Factoring Association (IFA) proudly stands as the global leader among associations for accounts receivable finance organizations.

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Learn about and register for the IFA's upcoming training classes, webinars and conferences.

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Looking for a Factoring company? Use our free Factor Search service to match your needs to an IFA member.

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Education

Factoring allows you to use your own hard-earned assets to create cash for the growth needs of your company.

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Latest News

 

A Refresher on IRS Basics After ERC Letdown

In the icy grips of January, one might daydream of sun-soaked beaches and plan the ultimate escape...

 

Disastrous Economic Cycle in the Transportation Sector

The transportation sector has been in shambles since the third quarter of 2022. Truckload capacity has remained high, freight rates have decreased approximately 30% over an 18-month period, and freight volume has steadily declined since May of 2022 through September of 2023, spelling a triple whammy for the sector.

 

IFA Previews 30th Annual Factoring Conference

Get ready for the event of the year! The IFA proudly presents the 30th Annual Factoring Conference, happening from May 1 to 3, 2024, at the luxurious Fontainebleau in Miami Beach, Florida.

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Job Board

  • Senior Account Executive - Remote 

    About Us: 
    We are on a mission to provide innovative working capital solutions to small and medium size businesses throughout the United States, Canada, and the United Kingdom. A steady cash flow can change the course of a business and help a company define its future, promote growth, and impact the bottom line! As a leading provider of innovative funding solutions for small to medium sized businesses, we are one of the fastest growing companies in the industry. Through our Commercial Finance, Freight Factoring and ABL divisions, eCapital offers capital solutions to 80+ industries. We truly love to help our clients grow and this is a position where you can grow too! 
    We are seeking a Senior Account Executive in our Atlanta Office (Hybrid) to support our Commercial Finance Division. This role will report to our Head of Operations.
    Purpose of the role:

    • Ensures the security and profitability of eCapital through efficient and effective management of a portfolio of clients.
    • Makes daily funding decisions against Borrowing Base Certificates.  Uses judgment and discretion to make those decisions.
    • Establishes and maintains a professional and efficient relationship with their allocated portfolio of clients.  Acts as primary point of contact for Clients.
    • Ensures that security interest is always maintained within internal management policies.
    • Implements and maintains excellent standards of customer service.
    Key Responsibilities and Accountabilities
    • Manages collateral performance of the allocated portfolio through efficient and effective client management and compliance with approval conditions and other eCapital policies and procedures.
    • Provides proactive and reactive management of the overall relationship with the client in an ever-changing environment.  Responds quickly to any changes.
    • Makes daily funding decisions.  Reviews daily transactions for accuracy and takes immediate action on any potential risk issues.
    • Performs daily review of client funding position to ensure facilities are operating within formula and performing in line with expectations.  Supports over-advance requests when acceptable risk and within authority levels.
    • Manages and monitors large AR concentration exposures and inventory mix.
    • Proactively monitors statistical trends and financial performance of clients, taking appropriate action if needed.
    • Completes facility and portfolio reviews in a timely manner, based on the required frequency per policy.
    • Maintains proper, accurate Client Risk ratings in eCapital systems. The ability to read and interpret financial statements and corresponding financial covenants.
    • Monitors collection and verification call levels and coverage.  Makes decisions on appropriate action when needed.
    • Understands their clients enough to spot both warning signs and additional earning opportunities.  Formulates an exit strategy if needed to minimize potential losses.
    • Retains responsibility for recovering funds advanced in a collect-out situation.
    • Receive and ensures all chargeable fees are processed when required.
    • Manages, directs, and supports Collateral Analysts and Data Entry.
    • Works closely to ensure a smooth transition on all newly assigned accounts.  Ensures all client terms are set up correctly.
    • Undertakes client visits if required.
    • Assists in field exams if required.
    • Performs other related duties and tasks as necessary or as assigned.
    Key Skills and Knowledge
    • Manages multiple priorities in an organized manner to meet set deadlines.  Reassesses if higher need arises.  Copes well with demands of the job and manages their time efficiently.
    • Possesses excellent communication skills with the ability to motivate, influence and inspire others.  Leads by example.
    • Exercises independent judgment and applies prudent risk mitigation principles.  Understands how and when to elevate issues when required. 
    • Provides a solution to any arising issues.  Takes accountability for decisions made.
    • Maintains a high level of effectiveness during times of change by adapting behaviour and approaches to changing circumstances.  Accepts additional and changing roles, responsibilities, and tasks.
    • Listens with acute attention to detail.
    • Focuses on Customers.  Knows and cares about our internal and external customers.  Works as a team to deliver excellent service and exceed their expectations.
    • Understands the complexities and key factors that impact our business.
    • Drives outstanding results & can be counted on to do so.
    • Understands key features of eCaptial’s core and specialist products.  Calculates and explains current and future funding availability and all chargeable disbursements.
    • Demonstrates loyalty to eCapital, its vision and values and works with consistency, integrity, accountability and shows enthusiasm. 
    Qualifications 
    • Bachelor’s degree in a business-related field preferred. 
    • Five to 10 years Factoring and/or ABL experience with a financial institution.
    • Ability to work as part of a team in an office environment and to act independently if required. 
    • Computer literate with excellent keyboarding skills and competency with Microsoft Office; ability to learn new systems quickly. 
    • Excellent verbal and written communication skills required, strong customer service.

  • Factoring Business Development Officer 

    We are seeking a dynamic Factoring Business Development Officer to join our team for sourcing factoring deals.

  • Accounts Receivable Specialist 

    The Accounts Receivable Specialist is responsible for entering schedules, posting payments, and making related entries into The Bank’s factoring system and into The Bank’s accounting system. Additionally, this position will make collection calls on past due invoices prepare client advances, and interface with the bank’s client and account debtors as needed.
    As needed, the Accounts Receivable Specialist will assist the Specialty Finance group and its customers with: opening new customer accounts, maintaining and monitoring customer accounts, prepare draw request and initiate wire transfers for customers, run credit reports and request background investigations on customers and prospective customers. 

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Blog

  • UCC Filing in Factoring: A Crucial Step for Securing Your Interests

    • 10/19/2023

    Factoring, a financial practice where a business sells its accounts receivable to a third party (the factor) for an immediate cash injection, is a common method used to improve cash flow. However, to ensure that your interests are adequately protected in this transaction, you must consider Uniform Commercial Code (UCC) filings. UCC filings serve as a vital component in safeguarding the rights and interests of both the factor and the business involved in factoring. What is a UCC Filing? The Uniform Commercial Code (UCC) is a comprehensive set of legal rules and regulations that govern commercial transactions, including the sale of accounts receivable. A UCC filing is a public notice that an interest in a debtor's personal property has been pledged as collateral in a secured transaction. In the case of factoring, it is often used to secure the factor's interest in the accounts receivable that they've purchased from the business. Protection for Factors UCC filings play a crucial role in securing the factor's interest in the accounts receivable. When a factor purchases a company's invoices, they want to ensure that they have a priority claim over these assets. By filing a UCC-1 financing statement, the factor publicly declares their interest in the receivables, providing legal documentation of their stake. This filing prevents the business from using the same invoices as collateral for other loans or lines of credit, which could lead to competing claims and complications. Benefits for Businesses UCC filings also offer benefits for businesses engaging in factoring. By publicly acknowledging the assignment of accounts receivable to the factor, the business provides transparency regarding their financial transactions. This can be an advantage when dealing with other creditors, as they can see that the company's accounts receivable have already been pledged, reducing the risk of multiple claims on the same assets. Securing Financing For businesses, UCC filings can serve as a means of securing financing through factoring. When factors review potential clients, they often check the UCC records to assess the creditworthiness of the client's customers. A clean and transparent UCC record can make a company more attractive to factors, potentially leading to better terms and more favorable financing arrangements. Compliance and Accuracy Accuracy in UCC filings is crucial. Any inaccuracies or omissions can lead to disputes or challenges. To ensure compliance and precision, it is advisable to work with legal professionals or experienced third-party providers specializing in UCC filings. UCC filings are an essential component of the factoring process, protecting the interests of both factors and businesses. For factors, these filings ensure that their claim over the accounts receivable is legally secured and protected from competing claims. For businesses, they provide transparency and may enhance their ability to secure factoring financing. Whether you're a factor or a business looking to engage in factoring, understanding and appropriately utilizing UCC filings is a fundamental step in the process.

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  • Factoring 101: Unpacking the Basics

    • 10/18/2023

    Factoring is a financing technique that has been around for centuries, and while it might sound complex, it's actually quite simple. This financial tool helps businesses improve their cash flow and manage working capital effectively. In this blog post, we'll explore the fundamentals of factoring, and we'll also delve into the role of the International Factoring Association (IFA) in supporting and advancing this industry. What Is Factoring? Factoring, also known as accounts receivable financing, is a financial transaction where a business sells its accounts receivable (unpaid invoices) to a third-party financial institution, known as a factor. The factor then advances a significant portion of the invoice's value to the business – typically around 70-90% – with the balance held in reserve. Once the customer pays the invoice, the factor releases the remaining balance to the business, minus a fee. Why Is Factoring Beneficial? Improved Cash Flow: Factoring provides businesses with immediate cash, which helps them meet pressing financial obligations, cover operational costs, and invest in growth opportunities. No Debt Accumulation: Factoring is not a loan, so it doesn't add debt to the business' balance sheet. Instead, it leverages the value of accounts receivable. Risk Mitigation: The factor assumes the risk of non-payment. This means that if a customer defaults on an invoice, the factor absorbs the loss, not the business. Efficient Collections: Factors have dedicated teams for invoice collection, freeing the business from time-consuming tasks like chasing payments. Factoring & the Global Economy Factoring is not limited to one region or country. The factoring industry plays a crucial role in the global economy, enabling businesses of all sizes to access working capital and finance their growth. In a world where trade and business have become increasingly global, factoring has emerged as an essential financial tool for companies looking to optimize their cash flow. A straightforward yet powerful financial technique, factoring can significantly benefit businesses. The International Factoring Association, as a global advocate and educator for the factoring industry, plays a vital role in ensuring that this financial tool remains accessible, reliable, and conducive to economic growth on an international scale. As businesses continue to adapt and grow in an ever-evolving global economy, the IFA's contributions are instrumental in shaping the future of the factoring industry. The Role of the International Factoring Association (IFA) The International Factoring Association is a global industry organization dedicated to advancing the factoring and receivables finance industry. It plays a crucial role in shaping the future of factoring by providing support, education, and a platform for collaboration among industry professionals. Here's how the IFA contributes to the world of factoring: Industry Standards: The IFA sets industry standards and best practices, ensuring that factoring transactions are conducted ethically and efficiently. Education & Training: The association offers a wide range of educational resources and training programs to help factoring professionals stay up to date with the latest developments in the industry. Networking & Collaboration: The IFA hosts conferences, webinars, and events that provide a platform for factoring professionals to connect, share knowledge, and foster collaboration. Global Outreach: Factoring is a global industry, and the IFA connects professionals and organizations from around the world, promoting international cooperation and understanding.

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