Malta-Based MFC Merchant Bank obtains access to €140 Million credit line
MFC Merchant Bank announces that it has obtained access to a non-recourse factoring credit line of €140 million from a leading European bank to finance its businesses.
Factoring is one of the products MFC Merchant Bank offers, in which a business, such as a supplier of goods, sells its invoices to a bank at a discount. The business obtains immediate liquidity while the bank receives full payment from the debtor at maturity of invoice.
“We are pleased with this announcement, which will enable us to finance additional transactions for the MFC Group of companies and expand our non-recourse factoring services to third party clients in the near future,” said Otto Karasek, President of MFC Merchant Bank.
MFC Merchant Bank is a specialty trade and structured finance bank based in Malta.