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A PUBLICATION OF THE INTERNATIONAL FACTORING ASSOCIATIONFEBRUARY 2019 VOL 21 No. 1COMPETITION ANDTECHNOLOGYALSO INSIDE:4 Ways Lenders Can Stand Out from CompetitorsTake Your Customer Relationship Management to the Next LevelCurrent Technical Disruptions in Transportation

TABLE OF CONTENTSFEBRUARY 2019 VOL 21 No. 1AN INTERVIEW WITH: ELLIOT EISENBERG , PH.D.ECONOMIC EXPERT, FOUNDER OF GRAPHS AND LAUGHS, LLC,AND 25TH ANNUAL IFA CONFERENCE SPEAKER4 WAYS LENDERS CAN STAND OUT FROM COMPETITORSBy Raul VelardeCOUNTDOWN TO THE 25TH ANNUAL IFAFACTORING CONFERENCEBy Heather VillaTAKE YOUR CUSTOMER RELATIONSHIP MANAGEMENTTO THE NEXT LEVELBy Kristian DolanCURRENT TECHNICAL DISRUPTIONS IN TRANSPORTATIONBy David JencksCOLUMNSLEGAL FACTOR: WHEN THE SH*T HITS THE FAN!By Steven N. Kurtz, Esq.WHAT’S NEW AT IFAADVERTISER INDEXCirrius Solutions. 6Factor Fox Software, Inc.11HubTran. 2International Factoring Association. 9, 15, 24, 31Tax Guard. 17Utica Leaseco, LLC. 32The Commercial Factor FEBRUARY 20193

FROM THE MARKETING DIRECTORBY TERRI BAKERSince its inception, the IFA has grown exponentially andsurpassed multiple milestones.With less than two months to go, we are already exceeding our attendance rate from the conferencein Miami at this time last year. In addition, we have over 50 exhibitors so far this year that will providethe products and services that you need all under one roof.Due to the increase in cyber-related crimes and the effects it has already had on Factors, we haveadded an additional session to the conference that will focus on this issue. In the last few months,several Factors have fallen victim to this scam which involves criminals either hacking or impersonating email accounts and directing payments to a different account. This session will include a panelfeaturing FBI Agent John Caruthers who has over 27 years of experience specializing in cyber crimes,to teach you how to protect yourself from becoming a target. To find out more about all of oursessions this year and our conference highlights, you can read Heather’s article on page 20 or visit theIFA conference website.The IFA has been working hard over the last few months to bring relevant, valuable content toyour desks at an affordable price with our webinars. We understand that not everyone can travelto training events, so we want to bring the sessions to you. There have been a variety of pertinenttopics including confessions of judgment, the latest developments in Notices of Assignment andUCC-9-406, due diligence and recording factoring transactions to name a few. We have seen a recordamount of attendees signing up for the webinars, so if you see a topic that interests you, sign up earlybefore it sells out! As always, if there is a topic you would like to hear, just let us know.We are excited to announce that IFA membership is at an all-time high! With over 490 companies nowmembers of the IFA, we have seen tremendous growth over the last several years. As our association continues to grow, we remain focused on the needs of our members and how we can tailor ourservices to benefit you and your organization.The IFA & AFA continues its efforts regarding the California bill SB 1235 that was signed into law latelast year. The Department of Business Oversight (DBO) is in the process of developing regulationsrequiring finance companies to disclose the APR in each commercial financing transaction. The IFA/ AFA along with Factors and attorneys in California have submitted their comments to the DBO onimplementation strategies that will be in line with the unique methods of the factoring industry.As you can see, the IFA has had its hands full over the last year. With less than two months to gobefore the 2019 conference, we are putting our final touches on the event to ensure it is a memorableone. We hope that you will be able to join us in San Diego!4 The Commercial Factor FEBRUARY 2019

NEWSTHE INTERNATIONALFACTORING ASSOCIATION6627 Bay Laurel Place, Ste CAvila Beach, CA 93424MAILING: PO Box 39Avila Beach, CA 93424-0039805-773-0011EXECUTIVE DIRECTORBert GoldbergPUBLISHED BYThe International Factoring AssociationEXECUTIVE EDITORSLisa Rafterinfo@commercial-factor.com 610-213-9105Chelsea Kirtleyinfo@commercial-factor.com 484-253-2517Amanda Koprowskiamanda.koprowski@abfjournal.com 484-253-2505ADVERTISING SALESSusie 459-3016ADVISORY BOARDEric BelkMatch Factors, Inc., Florence, SCMelissa DonaldLDI Growth Partners, LLC, Walnut Creek, CAKee KimFinance One, Inc., Los Angeles, CAJohn MartinGeneral Electric Company, Atlanta, GAFred MossAccord Financial Corp., Montréal, QC, CANADAPaul SchuldinerRosenthal & Rosenthal, New York, NYNel SomarribaNew Century Financial, The Woodlands, TXKevin WoodChesapeake Bank, Cash Flow Division, Gloucester, VAThe International Factoring Association’s (IFA) goal is toassist the factoring community by providing information,training, purchasing power and a resource for factors. TheIFA provides a way for commercial factors to get togetherand discuss a variety of issues and concerns about theindustry. Membership is open to all banks and financecompanies that perform financing through the purchase ofinvoices or other types of accounts receivable.The Commercial Factor is published bi-monthlyby the International Factoring Association. Tosubscribe, please email info@factoring.org.The Commercial Factor magazine invites the submissionof articles and news of interest to the factoring industry. Formore information on submitting articles or advertisements, email news@factoring.org, or call 805-773-0011.The views expressed in the Commercial Factor are thoseof the authors and do not necessarily represent the viewsof, and should not be attributed to, the InternationalFactoring Association.INDUSTRY NEWSHubTran Automation and Verification Products Show StrongGrowth in 2018; Mobile App on Tap for 2019HubTran grew 150% year over year and welcomed several newfactor customers including Aladdin Financial, Concept Financial,Convoy Capital, Engaged Financial, England Carrier Services, Financial Carrier Services, Flash Funding, Freight Collect, Grand Financial,Gulf Coast Business Credit, Integra, Momentum Capital Funding,Phoenix Capital, Porter Billing, Rover180, Steelhead Finance, TAFS,Tetra Capital, and Thunder Funding.HubTran introduced its Verifications product, and continued toreinvest in core automation platform for factors. They are currentlyrolling out HubTran’s Mobile App—designed specifically for factors and fully integrated with our automation platform and ClientPortal. They also closed series A financing in December, whichreinforces HubTran’s balance sheet and strengthens their ability toaccelerate product development.Sterling to Acquire Woodforest ABL & EquipmentFinance BusinessesSterling Bancorp, through its principal subsidiary, Sterling NationalBank, agreed to acquire the asset-based and equipment financelending businesses of Woodforest National Bank.As of December 31, 2018, the balance of commercial loans andleases outstanding to be acquired was 504 million, with 339million in asset-based loans and 165 million in equipment financeloans. The portfolio had a weighted average yield of approximately5.5%, and consisted 24% of fixed rate loans and 76% floating rateloans.The acquisition will add significant origination capabilities in theMidwest and Southwest regions to Sterling’s established nationalcommercial lending platform, including a direct lending equipmentfinance sales and originations team. Pro forma for the acquisition,Sterling will have a combined 1.1 billion in asset-based loans and 1.4 billion in equipment finance loans.The transaction consideration will be paid in cash and will resultin an increase of approximately 3 million in annual operatingexpenses. Closing is expected for the first quarter of 2019.Tetra Capital Was Named One of the Best Trucking FactoringCompanies For the Second Year in a Row by the FactoringClubOver 100 factoring companies were evaluated for the awards andwinners were selected based on contract terms, customer serviceand leadership.You can access the full list of award recipients at companies/The Commercial Factor FEBRUARY 20195

NEWSAxiom Bank, N.A. Appoints TwoNew Area Managers for Tampa andOrlando MarketsAxiom Bank N.A. hired JenniferWaddell as Vice President, AreaManager in Orlando and promotedDwayne Haugabrook as VicePresident, Area Manager in Tampa.In their new roles, Jennifer andDwayne will oversee day-to-dayoperations and sales at each branchin their region. Jennifer has nearlytwo decades of banking experience.Dwayne has been with Axiom Bank fora decade.INDUSTRY TRANSACTIONSNorth Mill Capital Provides 5,000,000 Accounts ReceivableCredit Facility to CadencePackaging Group and Garven, LLC inMinneapolis, MinnesotaThe funds will be used to pay off theprevious lender and provide workingcapital for the company.Cadence Packaging Group designs,produces and sells point of sale bags,boxes and packaging to retailers,while Garven, LLC designs and createscustom gift wrap and packaging accessories.Utica Leaseco, LLC AnnouncesCompletion of Two TransactionsTotaling 750,000 During the LastWeek of January 2019Utica Leaseco completed the fundingof a 550,000 Capital Lease securedby Machinery and Equipment to atransportation company located inTexas. Utica provided the workingcapital needed for this importantAmerican company to continue expanding operations.A current Utica customer, operatingwithin the oil & gas sector neededfunding quickly to purchase newequipment and expand their dailyoperations. Within one week of theirinitial request, Utica helped them un-lock the value of their machinery andequipment with a 200,000 capitallease, bringing their total funding todate to over 6,200,000.Liquid Capital Announces RecentFundings as of January 31, 2019 350,000 factor facility to an EnergyCompany in Naperville, IL to helpexpand operations 250,000 factor facility to aAutomotive Accessory Company inKirkland, QC to help take advantage ofsupplier discounts 400,000 factor facility to a OilfieldServices Company in Killdeer, ND tohelp meet demand for new contracts 150,000 factor facility to a LogisticsCompany in Brownsville, TX to helpfund day to day operationsCommercial Finance PartnersFacilitated 16 SBA Loan Closingsfor December Totaling Over 23,000,000 in New FundingsA few sample transactions are below: 4,500,000 SBA 7a for a multi-SaleSforce conSultingYour BuSineSS iSn’t cookie-cutter WhY Should Your SaleSforce Solution Be?We Listen. Consultants say they listen, but do they? Your business hasunique features, so should your Salesforce solution. We listen to ourclient users and work closely with them throughout the project. Wedon’t believe in a cookie cutter solution—neither should you. crM cuStoMer Service collectionS origination WorkfloW taSk ManageMent integrationCall Today for a Free Consultation:Kate Majewski Kate.majewski@cirriussolutions.com 215-384-42346 The Commercial Factor FEBRUARY 2019