EU Federation - Press release
EU Federation for the Factoring and Commercial Finance Industry - Press release
EUF is an association of the European Factoring and Commercial Finance Industry, designed to attain common positions on key issues, with the aim of improving the conditions of the EU-based factoring and invoice financing industry.
At a time when the international factoring scene has changed tremendously, and with the growth of the industry, combined with a recent evolution towards asset-based lending, new challenges have been created. With this in mind the EUF proposes an association of European factoring and commercial finance industry representatives.
In recent years, the factoring industry has experienced an upwards increase in activity, reaching in 2007 alone a market growth of 15.01%, compared to 2006, resulting on a world total turnover of 1,176 billion employing over 80,000 people around the world. The total amount of finance provided to businesses in Europe by the Factoring and Commercial Finance Industry at the end of 2007 can be estimated at 146 billion Euros. The total turnover produced by the factoring industry in 2007 in the EU in 2007 ads up to 878 billion Euros.