Mexican technology provider e Factor Network (EFN) has joined the IFC’s global trade supplier finance programme to support its customers' cash flow needs.
The IFC will provide liquidity to EFN through PrimeRevenue’s OpenSCi supply chain finance platform.
The partnership will allow EFN to meet the liquidity needs of its Mexican suppliers, particularly small and medium enterprises, to expand their businesses, create jobs and contribute to economic growth, says Georgina Baker, IFC’s director of global trade and supply chain solutions.
“EFN leverages the PrimeRevenue technology to offer the most comprehensive supply chain finance solution on the Mexican market that cuts cost and helps buyers and their suppliers achieve their supply chain finance goals,” says Héctor de la Garza, EFN’s CEO.
PrimeRevenue and EFN began working together in 2009 to assist Mexican buyers in eliminating the negative cash flow impact of term extensions and reducing cost and capital risk in the financial supply chain, PrimeRevenue says.
IFC to boost liquidity for Mexican SMEs
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