PLATINUM FUNINDG GROUP ANNOUNCES UK OPERATIONS
(September 03, 2008) Platinum Funding Group, a premier factoring company, announces the opening of Platinum Funding UK Limited in Basingstoke, England. The company will provide accounts receivable factoring services for companies based in the United Kingdom. Platinum’s UK operations are financed by a UK-based funding line. Platinum Funding Group will celebrate the commencement of the UK operations with a Launch Reception in London on September 3rd, 2008.
Platinum Funding Group is uniquely positioned in offering non-recourse factoring in the UK market. Its model offers alternative financing options that are outside of the traditional asset-based lending (ABL) sector. Platinum Funding enters the UK market at a time when the credit crunch has spread in the US and begun to affect European liquidity markets. The optimisation of the timing of entry allows Platinum to capitalise on the growing wave of interest in alternative financing in the UK and Europe.
Earlier this year Platinum Funding UK Limited provided financing to T/A Hoarding Fencing and Decking, an Essex-based company. The accounts receivable factoring facility was executed in only five (5) business days and signified Platinum’s first success story in the UK market. Ability to provide creative, flexible financing in an extremely fast and efficient manner has always been a trademark of Platinum’s service.
“This is an exciting new chapter in Platinum Funding Group’s history,” remarked Mr. Eyal Levy, Chairman and CEO of Platinum Funding Group. “Current market conditions in the US and the UK ideally position Platinum Funding Group for financing of early-stage and well-established companies alike, whether they are going through a period of fast growth, turnaround or mergers and acquisitions. We look forward to growing our invoice factoring business to new heights on both sides of the Atlantic.”
The London office is headed by Toni Dare, Operations Director for Platinum Funding UK Limited. Toni joined Platinum in 2008, bringing with her more than 20 years ABL experience. Her past positions in the ABL sector in the UK include working for a merchant bank and main clearing bank lenders. She is responsible for the integration of the Platinum Funding Group brand to the UK. Toni’s expertise in sales, credit, operations and recovery ensures that Platinum’s UK clients’ needs are correctly evaluated and met, building on the reputation and 16 years of success of the Platinum Funding Group in the US.
“This is the time when asset-backed financing is becoming increasingly difficult to obtain,” remarked Toni. “I am proud to be representing Platinum in providing UK companies with a unique non-recourse factoring service as an alternative financing option.” The contact information for Platinum Funding UK Limited is ViewPoint, Basing View, Basingstoke, Hants. RG21 4RG Phone: 01256 799 780 For more information,
please go to www.PlatinumFundingGroup.co.uk
