Australian Factoring Company swallows two more competitors

Release Date:  1 June 2016

Australian Factoring Company, headed by Rael Ross and Walter Rapoport, have continued on its expansion plans and has announced the purchase of the Avoca Factors book of clients as of 1 June 2016.  

Avoca, and its predecessor Akling, have provided continuous service to the industry in excess of 30 years.

Avoca’s customers are concentrated predominately in Victoria and this purchase by AFC has cemented its position as the largest cash flow funder for the smash repair industry in Australia.

The Avoca Factors purchase complements the acquisitions of the Bendigo & Adelaide Bank panel shop factoring business last year, and the purchase of Active Factors in January this year.

AFC’s scale has enabled it to offer the most competitive pricing and has recently expanded its state-of-the-art IT systems to accommodate its growth; these systems have enabled transactions between AFC and panel shops to be seamless and highly effective.

AFC, by dint of now providing services beyond just factoring insurance company invoices, has been receiving applications for cash flow funding on a regular basis from all parts of Australia.  The company maintains that less than a day can elapse from receiving an application from a repairer to actually begin factoring for the panel shop.

ENDS

About Australian Factoring Company

Australian Factoring Company predominantly services the factoring needs of the smash repair industry. They have also diversified into other products for the Industry. As the largest in Australia, its processes and procedures have been adopted and implemented from the best practices recognized in the Industry. Its personnel are highly qualified, trained and motivated to provide outstanding service to its panel shop clients.

For further information:

Contact Rael Ross or Walter Rapoport

Australian Factoring Company

Phone: 1300 AFC NOW

Direct Phone: 03 9523 6100

Fax: 1300 AFC FAX

www.australianfactoringcompany.com.au