A Factor in Your Success® HOT FACTORING NEWS

Traditional Lines of Business Credit are Elusive--Unless You’re Factoring

2009-03-12T11:11:00.000-07:00

Traditional Lines of Business Credit are Elusive--Unless You’re Factoring

By SEO Factor

It might just be the worst lending climate in the past two decades. Banks are refusing to renew lines of credit and they’re calling in loans. Decades-old family businesses that are current on payments get no preferential treatment--and new businesses get even less. Those who rely on mortgage financing aren’t doing any better. In fact, thousands of business owners--many of them young and minority entrepreneurs--suddenly have no place to turn for capital. Business lines of credit have been rescinded or refused, leaving businesses without the financing they need to expand or even to remain solvent. Can factoring be the proverbial light at the end of the tunnel?
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Platinum Funding UK Commands Momentum

2009-02-04T10:37:00.000-08:00

The credit crunch is on. Lenders have stopped lending. Credit has become extremely tough, almost impossible, to obtain. And the general feeling among banks and traditional lenders can be boiled down to one word: Fear. Lenders fear that they will book big losses on future loans because they're taking such a beating on existing ones. This fear is making them reluctant to lend--and small to medium-sized businesses are feeling the brunt. Forget about expansion; without working capital, businesses are struggling just to remain solvent. But there are exceptions. Platinum Funding US and UK are poised to partner with businesses to help them meet, and exceed, their strategic goals.Read more

Platinum Funding Group Shakes the Software Market via a $13M Factoring Facility with Prismtech

2008-10-21T09:51:00.000-07:00

A Multinational Client Finds a Powerful Partner for Growth

Platinum Funding Group continues its course as a powerhouse of the accounts receivable factoring by offering outstanding alternative cash flow funding solutions to burgeoning high-tech and IT industries. As activity in these sectors continues to grow, Platinum Funding Group is proud to announce its ongoing presence in the software market via a $13 million cross-Atlantic funding agreement with PrismTech Corporation (“PrismTech”). Platinum provided a $9 million factoring facility for PrismTech’s US operations located in Burlington, Massachusetts, US and $4 million for the Gateshead, UK branch. The UK portion of the financing is provided though Platinum Funding UK Limited, Platinum Funding Group’s UK operation. This double-decker factoring financing deal shows Platinum’s versatility in providing financial solutions internationally. Read More...

Energizes Compsec Electric Corporation With $12 Million Factoring Facility

2008-10-14T00:54:00.000-07:00

NEW YORK (October 14, 2008) — Platinum Funding Group, a premier factoring provider, signed a $12 million accounts receivable factoring agreement with Compsec Electric Corporation. Compsec is a Long Island City, NY-based licensed electrical subcontractor looking to solidify its place in the market with reliable invoice financing. Platinum will provide ongoing invoice factoring and efficient AR management services to Compsec that will streamline the company’s cash flow, ensure sufficient working capital, and help it compete with other major players in their industry. Read More.

A Factor in Your Success® HOT FACTORING NEWS: INVOICE FACTORING: A LEADING FACTORING COMPANY PROVIDES $66 MILLION

2008-06-30T14:45:00.000-07:00

A Factor in Your Success® HOT FACTORING NEWS: INVOICE FACTORING: A LEADING FACTORING COMPANY PROVIDES $66 MILLION

INVOICE FACTORING: A LEADING FACTORING COMPANY PROVIDES $66 MILLION

2008-06-30T14:36:00.000-07:00

Invoice Factoring: A leading factoring company provides $66 Million Accounts Receivable Factoring Facility to Velocita, a Leading Provider of Wireless Data Services, to Support the Acquisition of SkyTel, from Bell Industries, Inc., a Complimentary Wireless Technology Business...
By SEO Factor

‘THINKING OUTSIDE THE BOX’ NETWORKING SERIES

2008-02-08T08:17:00.000-08:00

New York (January 09, 2008) Mr. Dan Rather and Mr. Eyal Levy President and CEO of Platinum Funding Group on the 29th Floor Penthouse Suite occupied by Platinum Funding Group in the historic Bush Tower building. Thinking Outside The Box, a networking series...read

Factoring NYC Law Journal

2007-10-26T08:30:00.001-07:00

Factoring Information

Decision of Interest

Dessert Beauty Inc. v. Platinum Funding Corp.

U.S. DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

Contracts

October 16, 2007

Judge Scheindlin

Read the Full-Text Opinion

DEFENDANT New Jersey firm provided factoring services to plaintiff Barbados cosmetics maker under factoring and account agreements governed by New Jersey law. Plaintiff's principal is president of its Canadian corporate parent. In addition to the factoring and account agreements the parties executed a security agreement under which plaintiff granted a security interest in its "present and future property" as collateral against its corporate parent's obligations under the agreements. Defendant withheld $573,741 from plaintiff's reserve account due to its failure to meet its $15 million "semi-annual base sales amount" specified under paragraph 9 of the factoring agreement. The court denied plaintiff summary judgment on its conversion claim. Paragraph 9 was unambiguous and provided an agreed-upon method of performance under the contract. Because the ownership of the money withheld under paragraph 9 was a disputed fact issue, plaintiff failed to establish an essential element of conversion.

Read the Full-Text Opinion

Smart Deals

2007-05-29T13:58:00.001-07:00

Smart Deals, Fast Service Eyal Levy Platinum Funding Group Factoring Smart PDF Download

purchase order funding agreement

2007-05-24T12:24:00.001-07:00

New York, NY (PRWEB) May 15, 2007 -- Platinum Funding Group announced today funding agreement with Presto Food and Beverage, Inc.

Factor May Provide Cash

2007-05-12T14:15:00.001-07:00

TMA Article May 2007 - “Factor May Provide Cash” Click to download the PDF TMA with Platinum Funding Group compliments:

Factor May Provide Cash

2007-05-09T07:58:00.000-07:00

TMA

TMA Article May 2007 - “Factor May Provide Cash” Click to download the PDF with our compliments:TMA

A Factor in Your Success: Factoring Company MOVE to Bush Tower NYC

2007-05-01T07:34:00.000-07:00

A Factor in Your Success: Factoring Company MOVE to Bush Tower NYC

Factoring Company MOVE to Bush Tower NYC

2007-04-30T14:38:00.000-07:00

New York, NY (PRWEB) April 26, 2007 -- After a lot of hard work and planning, Platinum Funding Group back office and operations have relocated from Hackensack, New Jersey to the 26th floor of the historic Bush Tower

Minority Factoring

2007-04-12T09:06:00.000-07:00

DC public schools, as well as other government facilities in the city.

Factoring Success

2007-03-22T05:01:00.000-07:00

$80-MILLION FACTORING DEAL IN 36 HOURS

$80-Million Factoring Deal in 48 Hours

2007-03-20T07:39:00.000-07:00

Washington, DC public schools,

two-year, $80-Million factoring facility within 48 Hours

2007-03-20T07:37:00.000-07:00

("Hawk One"), a minority-owned protective services company based in Washington, DC.

Factoring Deal in 48 Hours

2007-03-20T07:35:00.000-07:00

Platinum Funding Group Completes $80-Million

$80-Million Factoring Deal in 48 Hours

2007-03-20T07:33:00.000-07:00

Hawk One Security, Inc.

Platinum Funding Group Completes $80-Million Factoring Deal in 48 Hours With Hawk One Security, Inc.

2007-03-20T07:20:00.000-07:00

Platinum Funding Group Completes $80-Million Factoring Deal in 48 Hours With Hawk One Security, Inc.

Locals Only: New Column From Search Engine Land

2007-03-13T03:48:00.000-07:00

Locals Only: New Column From Search Engine Land

A factor in your success

2007-03-13T03:35:00.000-07:00

Platinum Funding Group, a leading factoring company, provides clients with accounts receivable funding, letters of credit, bridge funding, and accounts receivable management. Established in 1992, the company has been consistently assisting companies with annual sales revenue between $1 million and $150 million. Platinum possesses the financial resources to serve the needs of clients across more than 30 industries. Platinum Funding Group holds a leading position in factoring services, issuing same day advances on accounts receivable to start-ups, fast growing firms, and companies in Chapter 11. Platinum Funding Group is headquartered in New York City and has regional offices throughout the US.

Factoring Facility For Two

2007-03-13T03:23:00.000-07:00

Working capital provided by Platinum helps the two companies increase

200 Mil in 1 year only in factoring

2007-03-10T19:07:00.000-08:00

factor your Invoices from the Source

A Factor in Your Success® HOT FACTORING NEWS

Traditional Lines of Business Credit are Elusive--Unless You’re Factoring

Platinum Funding UK Commands Momentum

Platinum Funding Group Shakes the Software Market via a $13M Factoring Facility with Prismtech

Energizes Compsec Electric Corporation With $12 Million Factoring Facility

A Factor in Your Success® HOT FACTORING NEWS: INVOICE FACTORING: A LEADING FACTORING COMPANY PROVIDES $66 MILLION

INVOICE FACTORING: A LEADING FACTORING COMPANY PROVIDES $66 MILLION

‘THINKING OUTSIDE THE BOX’ NETWORKING SERIES

Factoring NYC Law Journal

Smart Deals

Smart Deals, Fast Service Eyal Levy Platinum Funding Group Factoring Smart PDF Download

purchase order funding agreement

Factor May Provide Cash

TMA Article May 2007 - “Factor May Provide Cash” Click to download the PDFTMA with Platinum Funding Group compliments:

Factor May Provide Cash

A Factor in Your Success: Factoring Company MOVE to Bush Tower NYC

Factoring Company MOVE to Bush Tower NYC

Minority Factoring

Factoring Success

$80-Million Factoring Deal in 48 Hours

two-year, $80-Million factoring facility within 48 Hours

Factoring Deal in 48 Hours

$80-Million Factoring Deal in 48 Hours

Platinum Funding Group Completes $80-Million Factoring Deal in 48 Hours With Hawk One Security, Inc.

Locals Only: New Column From Search Engine Land

A factor in your success

Factoring Facility For Two

200 Mil in 1 year only in factoring

TMA Article May 2007 - “Factor May Provide Cash” Click to download the PDF TMA with Platinum Funding Group compliments: