Platinum Funding Group has established relationships with some of the world’s most prominent banks since the founding of the company in 1992. JPMorgan Chase has been the leading provider of funds to Platinum Funding Group since 1994, providing a credit facility and a revolving line of credit.
In December 2007, Citibank joined JPMorgan Chase as a participating bank to provide Platinum Funding Group with additional financing for its operations. Platinum Funding Group sought to bring in an additional funding source due to high present and expected growth. Current market conditions, including the ongoing credit crunch, are expected to increase business opportunities for factoring companies as many businesses, especially small and mid-size companies, are looking to alternative financing options.
Platinum Funding Group established a relationship with N M Rothschild & Sons, which began with a short term loan in 2005 and grew into a long term funding arrangement in 2006. Previously, JP Morgan Chase also joined forces with N M Rothschild & Sons. JP Morgan Chase and N M Rothschild & Sons joined forces in 2006 to increase Platinum’s financing capacity by combining the two leading banks financial resources. With the financing from JPMorgan Chase & N M Rothschild & Sons, Platinum is given the opportunity to originate and participate in highly structured domestic & international factoring transactions.
The relationships Platinum Funding Group has established with JP Morgan Chase, N M Rothschild & Sons, and now Citibank will continue to support Platinum’s growth and expansion.
Information about the JPMorgan Chase & Co. is available at http://www.jpmorganchase.com
Information about the Citigroup is available at http://www.citigroup.com/citigroup
Information about the Rothschild banking group is available at http://www.rothschild.com
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