HPD Lendscape, an international secured-lending platform vendor, has announced that it has become an official member of The Spanish Association of Factoring (AEF). The announcement comes at a time when HPD Lendscape is particularly focused on serving the Iberian market, having just launched a new Spanish-language website.
The membership ensures that HPD Lendscape can provide a high level of service to banks and financial institutions in the region, increasing the funding available to the region’s SMEs which have been negatively impacted by the pandemic. Factoring, along with wider bank support and government initiatives, is one major route to liquidity for Spain’s SMEs, with total factoring volumes in Spain reaching €182bn in 2020. The commercial credits managed by AEF’s members as a proportion of Spain’s GDP increased to 22.44% in 2020.
The AEF was founded in 1988 and includes almost all the specialised credit institutions in the country, representing around 75% of the total Spanish Factoring and Confirming market. It currently has 20 members, both credit institutions and other commercial entities, including major banks such as BBVA, Santander, CaixaBank and BNP Paribas. The AEF is also a Permanent Member of the Steering Committee of the EU Federation.
The AEF brings together factors serving the region and represents them in front of the various institutions of the Spanish state. It promotes factoring activity in the country and abroad, produces reports, research and studies that shed light on the financing environment in the country, and aims to evolve the factoring profession as a whole. It also promotes initiatives among members that foster mutually beneficial professional development.
Kevin Day, CEO of HPD LendScape, said: “We’re thrilled to have been accepted as a member of the AEF. This collaboration ensures we stay close to the Spanish market to which we can offer new levels of support and contribute with our international industry expertise and best practices, ensuring that banks and non-bank financial institutions can continue to provide much-needed funding and liquidity to Spain’s SMEs. For HPD Lendscape, it is further evidence of our growing presence in Europe as well as our focus on the Iberia region, and we look forward to working together closely with other AEF members to promote and enhance the Factoring profession in Spain.”