As part of its efforts to support businesses in the SME and mid-markets
Eurofactor UK has changed its name. The company will be known as Crédit Agricole Commercial Finance. Jeff Longhurst, MD, said: “Having Crédit Agricole as the cornerstone of our branding signals our strategic intent to become a significant player in the UK receivables and asset-based lending mid-market. We bring businesses the best of both worlds: The experience and local knowledge of a nationwide team, combined with the financial strength, presence and resources of one of the largest banks in the world.”
“The new name is reflective of our positioning in elevating our commercial strike-zone, as demonstrated by the number of recent transactions spanning GBP5 million to GBP50 million. I am pleased to report that the business is up 40% on this time last year and that we have recently completed a participation in a GBP140 million confidential invoice discounting line to a major PLC,” he added.
Ian Flaxman, strategic director of Crédit Agricole Commercial Finance, said: “We are committed to working in partnership with our clients, supporting their ambitions and sharing with them the excitement, intensity and commitment they bring to their businesses. The new name, together with the new strap line, ‘Connected by Ambition’ and our core values, ‘Cohesion’, ‘Openness’, ‘Accountability’ and ‘Entrepreneurship’, supports our shared vision and governs our business relationships. The expansion of our team through taking on highly experienced asset-based lending professionals and, of course, the strong relationship with our parent bank, underpins our desire to support businesses in the SME and Mid-Markets – companies that are the engine of the UK economy.”