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GMAC Commercial Finance (GMAC CF) has recently secured six commercial finance deals in Poland, worth over €
18mn (Z78.8mn).

The announcement follows the opening of the GMAC CF Polish office in Warsaw in November in response to increased customer demand and as part of a larger plan to widen the scale of operations across Europe. In April, GMAC CF funded a multi-jurisdictional deal worth €
40mn, 30% of which was set aside for Poland.

Dariusz Sobieraj, managing director of GMAC CF Poland, says: “We chose to open a Polish office in response to demands for our factoring services in Europe. Strict legislation in Poland in the 1990s saw banks drawing away from lending to the SME sector, leaving many small companies with very few options for their corporate financing.

Over the past few years some banks set up factoring companies, but they still probably only contribute 2% to the national GDP of Poland, whereas in more established markets, such as the UK and Italy, this figure is close to 10-12%.

“The factoring model that we use in the UK is a very new process in the Polish market, and we will be working closely with businesses and their advisers to ensure that each package meets their needs directly, as part of our specialised services.”

The opening of a Polish office is part of GMAC CF’s long-term aim to have a presence in every major European financial centre, with plans already underway for a German office.