New York NY (PRWEB) June 20, 2006
Confirming its leadership in the factoring industry, Platinum Funding Group announced today that in the past seven days it entered into 3 factoring agreements to provide working capital for three companies nationwide.
Following its geographical expansion, Platinum was able to assist those 3 companies coming from various industries, including publishing, transportation and hi-tech. Thanks to its financial strength and autonomy in making funding decisions, Platinum was able to fund the transactions in record time.
Eyal Levy, founder and CEO of Platinum Funding Group noted: “There has never been a better time to use factoring services such as ours. As the interest rates are going up, these three companies who received funding from Platinum Funding Group have protected their financing costs for the duration of their agreements”.
The broker of record for one of the transactions, Irving M. Ayash, President of the brokerage firm Ideal Management, Inc. complimented Platinum Funding Group for closing the transaction with his client, a firm in Florida providing semiconductors equipment for manufactures such as Hakuto Co., LDT, Hoya Corp. and Samsung.
Mr Ayash said: “When you need immediate results, your client insists on moving fast and demands competitive prices, the only place that can deliver is Platinum Funding Group”.
Emphasizing what Platinum stands for, MJ Hilker, Platinum’s Vice President in charge of business development in the Great Lake, Ohio area, who was involved with one of the three transactions, substantiated: “We, at Platinum, have the ability to offer creative financial solutions and were able to help a company that other factors would not consider”.
Platinum’s experienced back office completed the evaluation and due diligence process for each of those three clients in less than 3 business days and will continue the funding, providing same day advances, to these clients for the next two years.
About Platinum Funding Group.
Platinum Funding Group, a leading factoring company, provides clients with accounts receivable funding, letters of credit, bridge funding, and accounts receivable management.
Established in 1992, Platinum Funding Group has been consistently supporting companies with annual sales between $1 million and $100 million.
Platinum Funding Group possesses the financial resources to serve the needs of clients across more than 30 industries. Platinum Funding Group holds a leading position in factoring services, issuing same day advances on accounts receivable to start-ups, fast growing firms, and companies in Chapter 11.
Headquartered in New York City, with operations office in Hackensack, New Jersey, Platinum Funding Group has a network of regional offices throughout the US.