Alfred H. Sachs

2025 Inductee, SFNet founding Chairman

Alfred H. Sachs was a visionary leader and foundational figure in the secured finance industry. Born in 1896 in Glubokie, Belarus, near the Lithuanian border, Sachs immigrated to New York in 1910. His early career reflected a deep commitment to education and community: while attending law school, he served as the first executive director of the Cleveland Bureau of Jewish Education from 1924 to 1928 before entering the legal profession.

Sachs’ most enduring legacy lies in his role as a founder and the first chairman of the National Conference of Accounts Receivable Companies (NCARC), the predecessor to the Secured Finance Network. He presided over the organization’s inaugural convention on November 19, 1945, and continued to lead as Chairman during the 1946 and 1947 national conventions. His leadership helped shape the industry during a time of post-war transformation and growth.

He was instrumental in organizing the first ad-hoc industry gathering in 1943, which laid the groundwork for the NCARC. Under his guidance, the association grew to include 43 member companies, with 53 represented at the first convention—an impressive turnout given post-war travel limitations. Sachs’ speeches from that time reflect a forward-thinking approach to legal and legislative challenges, and a strong belief in the power of industry collaboration.

Sachs foresaw the convergence of commercial banking and finance, predicting that banks would eventually enter the accounts receivable business and that the lines between factoring, financing, and banking would blur. He also cautioned against excessive government intervention, advocating for a strong, self-regulating industry association.

As an entrepreneur, Sachs founded Manufacturers Trading Corporation (MTC) in Cleveland, Ohio. His son, Michael S. Sachs, recalls him talking about various companies that he owned personally and his having said that he had bought them with their own money  —   a  concept now known as leveraged buyouts. In 1947, MTC was the seventh-largest finance company in the country, with $12 million in loans outstanding.

Known for his charisma and persuasive leadership, Sachs encouraged attendees at the first convention to commit to the association on the spot—often with a touch of humor. His presence dominated the 14-hour event, setting a tone of energy and ambition that would define the industry’s future.

Alfred H. Sachs has been described as a lawyer, financier, educator, philanthropist, and community organizer. His vision, leadership, and entrepreneurial spirit laid the foundation for the secured finance industry, making him a truly deserving inductee into the SFNet Hall of Fame.