SAINT PETERSBURG, Fla. (August 17, 2021) – Newly published data confirms that the United States’ total factoring volume dropped significantly in 2020 according to data in BCR’s World Factoring Yearbook, authored by National Sales Manager Mark Mandula and Communications Specialist Alina Hall of United Capital Funding, a commercial finance firm headquartered in St. Petersburg, Florida.
This is the 25th edition of the World Factoring Yearbook, which continues to be regarded as the authoritative source for factoring data and trend analysis globally. The publication highlights developments in the factoring industry including growth trends across Europe, Asia, North and South America, and Africa. The Yearbook also includes a comprehensive overview of the performance and trends seen in the American factoring industry. The decline of factoring in 2020 continues the downward trend of the invoice financing service.
“Many factoring firms are looking towards 2021 as a year of recovery,” said Mandula. “Several key indicators have come forward to show a positive trend for this industry.”
According to the Yearbook data, the most common industries that utilize factoring include trucking/transportation, temporary staffing, service, construction and manufacturing.
The World Factoring Yearbook 2021 shows the key developments in the factoring industry today, and includes industry expert insight including:
- “Agility: the watchword in a post-pandemic world” by Kevin Day, CEO of HPD Lendscape,
- “The role of technology in receivables finance risk management” by Michael Ellis, Managing Director of EQ Riskfactor,
- “The sustainability challenge – reframing relationships for a better future” by Sibel Sirmagul, Regional Head Product and Propositions, Global Trade and Receivables Finance, Europe of HSBC Bank Plc,
- And “Brexit impact on UK receivables finance industry” Sharon Williamson, Head of Banking and Finance Litigation, and John Quicler, Senior Associate, Banking and Finance Litigation, of Hill Dickinson LLP.
This publication can be purchased here and is updated globally on an annual basis by BCR Publishing, based in London.
About United Capital Funding Group, LLC.
United Capital Funding Group, LLC. (UCF) is one of the nation’s leading providers of B2B and B2G working capital funding having collateralized Accounts Receivables from most Fortune 500 companies, governments and other non-profit entities.
For more than 20 years, UCF has provided professional working capital, accounts receivable funding, credit insurance coverage and efficient accounts receivable management services to small and medium-sized businesses nationwide. UCF has headquarters in Florida, and also has offices in Tennessee, Ohio and Illinois. UCF is a subsidiary of Gulf Coast Bank & Trust Company, a FDIC-insured bank. For more information, please visit www.ucfunding.com
BCR Publishing is the world’s leading knowledge provider in receivables finance. BCR creates and deliver news, expert articles, in depth market intelligence data and events covering factoring and invoice discounting, Supply Chain Finance, working capital management, and trade receivables securitization.
BCR’s clients and partners include most of the leading commercial banks, factors, invoice discounters, corporates, investors, AltFin platforms, credit insurers, law firms, brokers and consultants, and also the main industry trade bodies.
For more information please visit http://www.bcrpub.com