WOW, what a month! The last week in September I flew to Barcelona, Spain for a few days to support our funding source with their international partners. These partners are instrumental in providing RMP Capital with the money required to finance our re-discounting program for small factors and of course our program for Contractors working on Public Works projects. I then came back for a week and then it was off to Las Vegas to host a dinner for the IFA Small Factors Conference. It was great to see how well the conference was attended, .there were more than thirty small companies represented. Some I remembered seeing at previous conferences but there were a lot of new faces. Looking back at the event it proved to me that the factoring business is alive and growing. I then returned to office for a few days and then it was off to Chicago for the CFA’s 66th Annual Convention. More than 1,000 people attended the event at the Sheraton Hotel. The mood was upbeat and I had a chance to meet with a number of associates in the commercial finance field. As a member of the CFA’s Executive Committee I also had a chance to meet George “W” Bush, who was the Key Note Speaker. He joined us for breakfast and later in the day there was time to take a picture with him. It was a real treat and he seemed like a real “Good Guy”. This week it was back into the office to finalize two more transactions, one was a $3MM factoring facility for a book Manufacturer in upstate NY. We had done business with this client a few years ago before he decided to go with a community bank. However due to the recent problems in the Banking Business the client felt that he was better off growing his business with RMP. We also provided a $500K factoring facility to a charter airline that provides first class air charter services to some professional sports teams. This is a growing company and is headed up by a former President of TWA. We are excited to have both of these companies as our clients. RMP Capital Corp continues to grow our portfolio and we are proud to be able to support both the International Factoring Association and the Commercial Finance Association. I’ll be in the office for the next week or so to finalize a few more transactions. It looks like we will be working with a Trucking Company in Kansas that wants RMP to factor their receivables through our Transportation Factoring Program, it’s not a very large deal but every deal adds up. We will also be adding a small factor to our re-discounting program for a $500K line. Again it’s not a very large line but I like the spread of risk. I’ll let you know how things go
Until then as always, I welcome your thoughts, comments and ideas.