Andrej Suskavcevic, CAE, Publisher
Brian P. Cove, Editor-in-Chief
Michele Ocejo, Executive Editor
Eileen M. Wubbe, Senior Editor
Aydan Savaser, Art Director
370 Seventh Avenue
New York, NY 10001
(212) 792 -9390 (212) 564-6053
Volume 66, Issue 3
Mohanna & Associates
305 W. Spring Creek Parkway
Building C, Suite 101
Plano, TX 75023
The Commercial Finance Association is the
trade group for the asset-based
lending arms of domestic and foreign
commercial banks, small and large
independent finance companies, floor
plan financing organizations, factoring
organizations and financing subsidiaries of
major industrial corporations.
The objectives of the Association are to
provide, through discussion and publication,
a forum for the consideration of inter- and
intra-industry ideas and opportunities;
to make available current information on
legislation and court decisions relating to
asset-based financial services; to improve
legal and operational procedures employed
by the industry; to furnish to the general
public information on the function and
significance of the industry in the credit
structure of the country; to encourage the
Association’s members, and their personnel,
in the performance of their social and
community responsibilities; and to promote,
through education, the sound development
of asset-based financial services.
The opinions and views expressed by
The Secured Lender’s contributing
editors and authors are their own and do
not necessarily express the magazine’s
viewpoint or position. Reprinting of any
material is prohibited without the express
written permission of The Secured Lender.
The Secured Lender, magazine of the
asset-based financial services industry (ISSN
0888-255X), is published 8 times per year
(Jan./Feb., March, April, May/June, July/Aug.,
September, October and November) for $28
per year member rate and $56 non-member
rate by Commercial Finance Association,
370 Seventh Avenue, New York, NY 10001.
Microfilm of back issues is available from
ProQuest Information and Learning, P.O. Box
1346, Ann Arbor, MI 48106-1346. Telephone:
(800) 521-0600. Periodicals postage paid at
New York, NY, and at additional mailing
offices. Postmaster, send address changes
to The Secured Lender, c/o Commercial
Finance Association, 370 Seventh Avenue,
New York, NY 10001.
Executive editor Michele Ocejo discusses why some factors are celebrating
and some aren’t feeling quite as jubilant.
The latest issues affecting the asset-based lending and factoring industries,
including CFA’s Quarterly Asset-Based Lending Index for the 4th Quarter of 2009,
a proposed change to federal bankruptcy rules that could affect syndicated ABL
lenders, a rise in fraudulent transfers, and highlights of the latest company news
and announcements from the secured lending community.
TSL Policy Watch
This department covers legislative, regulatory and legal issues of importance
to the asset-based lending and factoring industries. Topics covered include
the CFA Advocacy Committee’s agenda for 2010, CFA’s new Washington, DC
lobbying firm, the UNCITRAL Colloquium on Secured Transactions, and efforts to
encourage secured lending laws in Latin America.
Pat Burns, of Primary Funding Corporation, describes her journey starting out in
the factoring industry in the ‘70s to the recent challenges she has faced, (including
buying utility rebates, which she calls “disastrous”) to maintaining a strong
presence as a community factor in the San Diego area.
Across the Pond
The editor of the UK-based Business Money magazine updates TSL readers on
what is going on in the UK and Europe.
Executives discuss how difficult economic times during the past 18 months
have created new opportunities in the factoring industry. They share how
some of the industries and businesses that wouldn’t have considered asset-based lending or factoring in the past are now seeking financing from them.
The CFA Brief
64 Among CFA Members
69 Among CFA Foundation Members
71 CFA Chapter News
72 Book Review
73 CFA Committee Chair Profiles
76 Ad Index
76 CFA Calendar
Allen Frederic discusses his Ten Client Commandments to help manage your
business in this volatile economy.