Credit Agricole Leasing & Factoring
(CAL&F) has signed a partnership with French government-backed
bank OSEO to support small start-ups and SMEs in their expansion
strategy.
OSEO is to work alongside CAL&F’s
subsidiary Eurofactor to help provide financing and credit
management solutions to small businesses by putting an annual
guarantee package at their disposal.
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CAL&F is targeting France-based businesses
with fewer than 10 employees. With this partnership, it will
finance micro and small-sized enterprises’ invoices on special
terms of up to €100,000, as well as manage their account
receivables.
The offer is available within Credit
Agricole’s banking network and at Eurofactor, CAL&F
said.
Eurofactor is France’s largest factoring
business, with a 23.3 percent market share.
During the first nine months of 2010, Credit
Agricole’s leasing and factoring activities recorded a 34.5 percent
year-on-year increase in factored receivables and a rise in new
business volume in leasing of 17.9 percent.
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