- Factoring Poised to Provide Stable Revenue, Offsetting COVID-19 Uncertainty for Non-Bank Lenders and Banks
- First-of-its-kind Study Dimensions $4 Trillion Dollar U.S. Secured Commercial Finance Market
- Annual 2019 ABL & Factoring Survey Points to Strong Asset Quality
- Secured Finance Network Convention Amid Pandemic, Election Aftermath to Address Future of Finance
- Commercial Finance Association Appoints Richard D. Gumbrecht as CEO
Commercial Finance Association is Now Secured Finance Network
July 24, 2019
New Name Reflects Secured Finance’s Importance to Economy, Fueling 20% of GDP
NEW YORK, July 24, 2019 – The Commercial Finance Association has rebranded as Secured Finance Network (SFNet) in time for its 75th anniversary, underscoring the industry’s crucial role in providing secured financing to businesses and driving economic growth worldwide, CEO Richard D. Gumbrecht announced today. The international association’s tax-exempt affiliate, CFA Education Foundation, has also changed its name, to Secured Finance Foundation.
A Foundation study this year revealed the impact of secured commercial finance in the U.S. for the first time. The industry delivered more than $4 trillion in secured financing to over 1 million U.S. businesses in 2018, affecting an estimated 20% of the gross domestic product (GDP), directly or indirectly. The research provided other insights into the market, which encompasses related, but distinct, segments of finance including asset-based lending, factoring, supply chain finance, equipment leasing and finance, leveraged and cash-flow loans, and asset-backed securities. More research findings will be released quarterly.
“Last year, the association announced its intention to rebrand over an 18-month period. We’ve completed the transition, just as we are preparing for our 75th anniversary celebration, November 13-15 at the SFNet Annual Convention in New York City,” Gumbrecht said. The organization also has launched a new website: sfnet.com.
David Grende, SFNet president and CEO and president of Siena Lending Group, added, “I’m excited about the future of Secured Finance Network. The new brand preserves those attributes that our members highly value – networking, valuable data, relevant education and advocacy – and reinforces the characteristics of our diverse community, which is forward-looking, welcoming and dynamic.”
Jennifer Palmer, SFNet Marketing Committee chair and president of Gerber Finance, added, “Over the years our association has served a wide range of professionals with programs, events and resources that have often been separately branded, making it difficult for people to understand our breadth. The new master brand is unifying, allowing us to present our offerings more coherently.”
About Secured Finance Network
Founded in 1944, the Secured Finance Network (formerly Commercial Finance Association) is an international trade association connecting the interests of companies and professionals who deliver and enable secured financing to businesses. With more than 1,000 member organizations throughout the US, Europe, Canada and around the world, SFNet brings together the people, data, knowledge, tools and insights that put capital to work. For more information, please visit SFNet.com.
About Secured Finance Foundation
Founded in 1990, the Secured Finance Foundation (formerly CFA Education Foundation) encourages, facilitates, and supports education, innovation, and charitable works for the betterment of organizations and professionals who deliver and enable secured finance – and their communities. As a separate entity from the Secured Finance Network, the foundation is a 501(c)(3) organization that funds crucial initiatives advancing the foundation’s mission. For more information, please visit SFFound.org.
Michele Ocejo, Director of Communications
Secured Finance Network
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