Finance Resource Guide
Support and protect your enterprise in this uncertain economic climate with backing from financial institutions dedicated to the apparel industry. They bring expertise and experience to a host of finance services that include full service factoring, trade financing, credit and collection, accounts receivable management, and more. Flexible programs and individual attention are available for all sizes of operations.
CIT Commercial Services 300 S. Grand Ave., 12th Fl.Los Angeles, CA 90071 (213) 613-2410; Fax (213) 346-3333 www.CIT.com Robert.Lewin@cit.com Contact: Robert Lewin Year Established: 1908. We are celebrating our Centennial this year!Apparel-Related Clients: The majority Annual Volume: 2007 net income of $164 million Territory: Entire United States, Asia, Europe, and South America Services: CIT Commercial Services is one of the nation’s leading providers of financing, credit protection, factoring, and accounts receivable management services. We tailor financial solutions that help companies of all sizes increase sales, improve cash flow, reduce operating expenses, and eliminate customer credit losses. Apparel companies turn to us for import and export financing, acquisition financing, growth financing, and working capital financing.Competitive Edge: Our size enables us to offer the broadest array of financing and credit protection services for domestic and international apparel companies. Our services help the small and mid-sized fashion and apparel companies of today become the market leaders of tomorrow.
Continental Business Credit, Inc.21031 Ventura Blvd., Ste. 900Woodland Hills, CA 91364(818) 737-3700 Fax (818) 737-3703www.cbcredit.comvlionetti@cbcredit.comContact: Vince Lionetti, Executive VP/Marketing Director, (818) 737-3737; Hank Kalin, VP New Business Development (818) 737-3746Year Established: 1989Apparel-Related Clients: 60%Territory: United StatesServices: We provide full service factoring, which includes local credit checking, collections, and accounts receivable financing. We finance start-ups and provide Chapter 11 acquisition funding.What’s New: Through a joint development venture, AIMS and Continental are streamlining the factoring process for the apparel industry and have created an integrated system for the Credit Decision Process. Designed to shorten the processing cycle for order approvals, this system transmits information directly from AIMS to Continental, eliminating duplication, errors, and multiple touch points on retailer orders. Users receive immediate credit decisions while the software keeps track of orders in process.Competitive Edge: Service is our number one priority; clients never get lost in the shuffle. We take the time to evaluate individual needs and provide solutions that produce results on a timely basis.
Goodman Factors 3010 LBJ Freeway, Ste. 140 Dallas, TX 75234 (972) 241-3297; Fax (972) 243-6285 Toll-free (877) 4-GOODMANwww.goodmanfactors.com Contact: Jessie Valdivia or Bret Schuch Year Established: 1972. We are the oldest privately held factoring company in the Southwest.Apparel-Related Clients: 60% Annual Volume: $350 million Territory: Nationwide Services: Recourse and non-recourse invoice factoring for businesses with monthly sales volumes of $10,000 to $2 million. Services include invoice and cash posting, credit and collection service, and cash advances on invoices (usually same day) upon shipment. Start-ups OK.Competitive Edge: A big edge lies in our experienced management and staff (more than 100 years combined among three managers) and knowledge of the apparel/retail industry. Due to our relatively small size and centralized management philosophy, our clients often deal directly with company management/ownership as opposed to an assigned CRM or account executive. Our size and accessibility enable us to provide flexible arrangements and quick decisions. All factored accounts are carried on our books. New accounts can be initiated in as little as 24 hours.
Hana Financial, Inc.1000 Wilshire Blvd., 20th Fl.Los Angeles, CA 90017 (213) 240-1234; Fax (213) 228-5555 www.hanafinancial.com jbahng@hanafinancial.com Contact: John Bahng Year Established: 1994Apparel-Related Clients: 75%Annual Volume: $1.2 billion in factoring volume in 2008Territory: 4 countries, 28 industriesLocations: Los Angeles, New York, and Seattle Services: Traditional Factoring, P.O. and Trade Finance, Commercial Real Estate Loans, SBA Loans, and Equipment LeasingCompetitive Edge: Multi-lingual professionals of quality and experience, state-of-the-art Internet-based e-factoring system, innovative and customized service, and a member of Factors Chain International
Milberg Factors, Inc.Main Office: 99 Park Ave., 21st Fl.New York, NY 10016 Western Regional Office: 655 N. Central Ave., 17th Fl.Glendale, CA 91203 (818) 649-8662; Fax (818) 649-7501 www.milbergfactors.com dreza@milfac.com Contact: David M. Reza, SVP Western RegionYear Established: 1935Apparel-Related Clients: 65% Territory: Primarily North and Central America, Europe, and Asia Services: Factoring, credit protection, and asset-based and import/export financing Competitive Edge: Milberg Factors offers a competitive menu of factoring, financing, and receivables management products for entrepreneurial and middle-market companies with more personalized attention than larger institutional firms. A partner of our firm manages every client relationship. Our 70-year track record in the core factoring industry assures our clients that they will enjoy a stable relationship supported by a mature and experienced staff.
Sterling Factors Corporation A subsidiary of Sterling National Bank 500 Fifth Ave.New York, NY 10018 (212) 575-4415; Fax (212) 575-3439 www.sterlingfactors.com john.lalota@sterlingbancorp.com Contact: John La Lota, President Year Established: 1929 Apparel-Related Clients: 50% Territory: United States Services: Full service factoring and accounts receivable management, letters of credit, and inventory financing Competitive Edge: Sterling Factors has provided creative financing solutions to the fashion industry for nearly 80 years. Clients have direct access to experienced decision makers. As a subsidiary of Sterling National Bank, Sterling Factors offers a full suite of banking services including middle market lending, asset-based lending, and leasing.
Wells Fargo Trade Capital (formerly Wells Fargo Century) 333 S. Grand Ave., Ste. 4150 Los Angeles, CA 90071 (213) 443-6030; Fax (213) 443-6001 www.wellsfargo.com/tradecapital Wes.Takeuchi@wellsfargo.com Contact: Wes Takeuchi Year Established: 1950 Apparel-Related Clients: +70% Annual Volume: $7 billion in factored A/R Territory: Western USA Services: A full line of factoring services, trade finance, and A/R management services Competitive Edge: Wells Fargo Trade Capital’s unique approach to trade finance provides exceptional flexibility for importers.
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