International Factoring
Since its inception, Hana Financial has been recognized as an expert in trade finance. Not only
are we able to protect and make advances against foreign receivables owed by foreign customers
through Factors Chain International (FCI), but also imports can be financed through purchase order
financing programs with purchase orders from creditworthy customers. Hana Financial is fully
committed to this dynamic and growing international trade arena. Although textiles and apparel are the most dominant, almost every industry can profit from factoring.
What is FCI?
Established in 1968, FCI has grown into the world's largest factoring network. It consists of leading factoring companies whose aim is to facilitate international trade through factoring and related financial services.
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How Hana became a member of FCI;
Hana Financial became a member of Factors Chain International (FCI), the world’s largest factoring organization, in April 2004. FCI members encompass 252 factoring companies in 66 countries. Only 8 factoring companies out of 110 factors in the United States are currently FCI members.
Hana met the following standards to be a member of FCI;
First-class shareholder backing
Proven management qualities
Sufficient cross-border factoring volume
Commitment to maintain the high service standards FCI has pursued
since 1968
Commitment to be active members to take part in all FCI events,
course programs etc.
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Benefits of being a member of FCI
Being a member of FCI better enables Hana Financial to support clients’ growth by accommodating their financial needs in international transactions.
Companies who want to expand their business beyond U.S. borders quite often face obstacles from foreign buyers with respect to credit protection and payment collection. To address these issues, Hana’s import and export trade factoring service through FCI delivers added assurance to such clients by providing critical information about customers in their respective countries along with risk-free credit protection.
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