The grapevine has been full of rumours about Venture Finance being the latest target of Deutche Bank’s attempt to break into the UK factoring market but it has recently come to the ears of the Factoring Blog that having got as far as due diligence they have suddenly lost interest as apparently they weren’t too keen on some of the structured lending deals that they looked at
Posted under Factoring
This post was written by Ian on October 7, 2009
I wrote a story in April (http://factoringblog.co.uk/?p=204) saying that whilst I was away sunning myself a raft of different factoring companies had all won awards for being the best factoring company according to a variety of different publications.
Having returned from topping up the tan again I found two more emails in my inbox from companies announcing their recent awards.
The first was from Leumi ABL to tell me that they had been voted “Asset Based Lender of the Year” according to ACQ Finance magazine’s Country Awards for Achievement 2009 and according to the blurb “The accolade is the result of a totally independent poll amongst industry peers”
The second was from those masters of self promotion Venture Finance who were awarded “‘Independent alternative finance provider of the year” by….. wait for it….. ACQ again.
Whilst I’m sure that both Leumi and Venture feel proud of their awards a look at some other of the award winners may put them into perspective as “ALMT – Best Indian Commercial Law Firm of the Year”, “Aviation Law Firm of the Year – Latin America, “Insurance & Reinsurance Law Firm of the Year – UAE”, “Shipping Law Firm of the Year – Hong Kong”, “Shipping & Maritime Law Firm of the Year – UAE” and “Specialist Law Firm of the Year – Aviation – UK” were all won by the same company – Clyde & Co
Is there anyone who hasn’t won an award from these people 
Posted under Factoring companies
This post was written by Ian on August 17, 2009
Almost all of them.
We were approached by a company last week that was looking for a factoring facility and having read our website they were interested in our recommendations. The MD mentioned that he had already approached Cattles Invoice Finance on the basis that they were award winners to which my response was that almost all factoring companies were award winners somewhere or another.
Looking at the factoring and invoice discounting companies’ website I noticed that Cattles were proudly proclaiming to have won the Business Innovation of the Year award at the National Business Awards’ North West regional finals.
Moving onto Close Invoice Finance and they are claiming the Business Moneyfacts Best Factoring and Invoice Discounting Provider award for the third year running whilst Venture Finance are the winners of the Credit Today Factor Discounter of the Year for the second year running.
Perhaps the most amusing website is that of Bibby Factors where they are proud of the fact that they were voted best factor and discounter by NACFB 2003 2004 2005 2006 thus prompting the question “What happened in 2007 then”
In addition to the above I went to the annual Dealmakers Dinner late last year which included an awards ceremony and GE Commercial Finance managed to win the Dealmakers Asset Based Lending award of the year.
I have no doubt that the clearing bank factors have also won a shelf full of awards between them as I seem to recall that Lloyds TSB was the victor at the Dealmakers Dinner in the previous year.
Oddly enough we introduced the prospective client that started me thinking about awards to one of the few factoring companies that doesn’t seem to have won an award at all even though they consistantly offer an above average service at competitive rates.
Posted under Bibby Factors, Cattles Invoice Finance, Close Invoice Finance, Factoring, Venture Finance
This post was written by Ian on November 15, 2008
Venture Finance was unwittingly caught up in the problems surrounding Fortis as Fortis had supposedly acquired them as part of the carve up of ABN Amro but had then been told to divest themselves of the ABN assets as part of their own rescue by various Governments.
Venture Finance remains part of the ABN Amro group which in turn is now owned by the Dutch Government so we are pleased to see that their foundation is now secure.
Posted under Factoring, Venture Finance
This post was written by Ian on November 4, 2008
In these fast moving and difficult times one has to be doubly careful of press releases and PR exercises as they may leave you with egg on your face at a later stage.
The current edition of the glossy magazine Business Money has a full colour cover devoted to Landsbanki which will no doubt continue to be an embarrassment to it’s editor until the next edition comes out whilst Venture Finance sent out a press release on 25th September telling the world about the new larger premises that they were moving into on 1st October in order to facilitate the integration of all the extra people upon their integration with Fortis. This was less than two weeks before the announcement that Fortis was being nationalised and the integration would now no longer be going ahead.
Ian
Posted under Factoring, Venture Finance
This post was written by Ian on October 17, 2008
