David DiPiero pairs with Factorscan BCR as an expert source on Asset Based Lending trends in the US and UK.
THE FIRST NAME IN INTERNATIONAL FINANCE©
FOR IMMEDIATE RELEASE:
CONTACT:
Yael Penn
Phone: 212.313.9616 x701
ypenn@fgiww.com
New York City, NY – February 21, 2008 – FGI Finance announced that Chairman and Chief Executive Officer, David DiPiero, paired up with Martin Fagan of Factorscan BCR to offer expertise in addressing the challenges facing the US and UK asset-based lending markets and how this is influencing current trends.
When asked by Fagan about the advantages of asset based lending (ABL) financing over factoring, DiPiero replied, “The most readily identifiable advantage of ABL over factoring is that asset-based lending facilities typically include inventory and equipment – in addition to accounts receivable – as part of the eligible collateral base of a financing facility or loan.”
DiPiero stands behind his notion that the UK should follow suit of certain US organizations and maximize liquidity based on available assets. This means the UK must seriously consider accessing asset-based loans.
Further emphasizing his point that the UK would benefit from ABL financing DiPiero states, “An organization can access a greater amount of capital given the same level of assets- inventory, equipment, accounts receivable – if they were offered a typical asset-based loan versus a typical factoring facility. It must be noted, however, that it is not entirely uncommon for a factor to also offer over advances or ancillary facilities to include assets other than accounts receivable.”
To review this Factorscan BCR article, visit http://www.fgifinance.com/news_and_media/pdf/FGI_Reprint_Move.pdf.
About Factorscan BCR
BCR Publishing was founded in 1992 to produce high quality in-depth industry reports and is acknowledged as the leading provider of factoring market information in the world. They have published such books and reports as the World Factoring Yearbook and Factoring in the UK. www.factorscan.com.
About FGI Finance
FGI Finance is a global commercial finance firm providing foreign receivable financing solutions and other financial services to mid-sized exporters, international service providers, and manufacturers worldwide. Headquartered in downtown New York City, FGI Finance has a presence in 6 continents.