New York, NY, February 25, 2009 --(PR.com
)-- Coface Credit Management North America, Inc. (CCMNA) announced today a factoring facility for a $2 million manufacturer and distributor of frozen desserts in Southern California.
“We were pleased to help a small business get the financing it needs for ongoing operations, particularly in these challenging economic times when banks appear to be retreating from helping small businesses grow,” said Gene Knapp, CCMNA VP of Factoring. “Helping this family-owned business grow is what is rewarding about factoring.”
CCMNA is Coface North America’s factoring arm, providing accounts receivable finance solutions to small and medium sized companies on a non-recourse basis.
Coface's mission is to facilitate global business-to-business trade by offering its 130,000 customers four business lines to fully or partly outsource trade relationship management and to finance and protect their receivables: credit insurance, factoring, ratings and business information and receivables management. Thanks to the worldwide local service delivered by 7,000 staff in 65 countries, over 45% of the world's 500 largest corporate groups are already customers of Coface. Coface is a subsidiary of Natixis whose share capital (Tier 1) was 12.9 billion euros at the end of June 2008. Learn more at www.coface-usa.com.