The International Factoring Association (IFA), the largest association of commercial finance companies in the world, announced the formation of the Northeast Chapter (the “Chapter”). The Chapter will serve factors, asset based lenders, other receivables finance companies, as well as service providers from Massachusetts to northern Virginia. It will be an independent local association affiliated with the IFA and will be led by Executive Director Harvey Gross.
The Chapter was formed to assist industry firms by providing additional training and networking opportunities at the local level. Current IFA members in these states will automatically be grandfathered into the Northeast Chapter. The Chapter also hopes to increase membership and raise awareness about the IFA and help factoring companies keep abreast of regional trends in the industry.
With a heavy concentration of firms in the New York/New Jersey area, the Northeast was a natural choice for the first U.S. chapter. “We’re excited to launch our first U.S. chapter and offer more programming on the East Coast,” said Bert Goldberg, IFA Executive Director. “The idea had been percolating for some time, but gained momentum after we held a joint event with the New York Institute of Credit (NYIC) last September. The event was well attended and members voiced a need for more local events. By establishing more chapters, the IFA will be able to better serve constituents.”
The Northeast Chapter leadership includes:
- Executive Director- Harvey Gross of HSG Services, Inc.
- President- Stuart Rosenthal of Prestige Capital Corporation
- Vice President- Robinn Mikalic of JD Factors
- Treasurer- Paul Schuldiner of King Trade Capital
- Secretary- Richard Simon of Mandelbaum Salsburg
- Attorney- Paul H. Shur of Windels Marx Lane & Mittendorf LLP
- Accountant- Brett Rea of Savastano Kaufman & Co.
“I’m honored to launch this Chapter,” Gross said. “Previously most of the IFA educational events were held at West Coast locations, so this will enable more participation and networking. We will work closely with IFA globally, assuring the organization’s values are upheld and the brand continues to build.”
Traditionally, IFA membership was open only to professionals from financial institutions. In an unprecedented move, the Chapter will open their membership to other professionals and service providers as well. These members will be Associate Members, and will have the opportunity to take advantage of the networking and educational programs as traditional members. This expanded scope gives all parties the opportunity to join at the member rates, learn about the IFA and benefit from its programs.
The Chapter already has programming planned, to be held jointly with the NYIC. They include: a Due Diligence & Investigations Workshop on February 13, the Annual IFA/NYIC Joint Factoring Program on March 4, and Fraud Workshop to be held on May 13. They have also secured their first sponsor, Salus Capital Partners.
For more information on joining the Northeast Chapter or available sponsorships, contact Harvey Gross at (732) 672-8410. If you would like more information about the IFA or are interested in forming a chapter in your area, contact Bert Goldberg at (805) 773-0011 Ext. 302.
Headquartered in Avila Beach, CA and with over 400 corporate members, the International Factoring Association is the largest association of commercial finance companies in the world. Members include factoring companies, asset based lenders and other receivables finance companies. Since 1999, the International Factoring Association has provided a forum for member organizations to meet and discuss issues and concerns, share best practices, disseminate information and promote a single voice to the marketplace. The principal spokesperson for the factoring and receivables finance industry is the International Factoring Association’s Bert Goldberg