Acquisition expands CFI’s footprint in the western and southwestern states and enhances service capabilities for existing and new clients.
Commercial Funding Inc. (CFI), a national provider of accounts receivable financing, today announced the acquisition of the factoring portfolio of Amegy Bank, a division of Zions Bancorporation, N.A., significantly expanding its presence in the United States.
The acquisition expands CFI’s factoring portfolio, strengthens market penetration in key industries, and further diversifies the client base CFI serves.
Included in the transaction, along with the factoring portfolio, CFI will bring on key members of the servicing team to ensure continuity of service. Clients will continue working with their current servicing team members and will experience uninterrupted access to their accounts and historical data.
“The purchase of this portfolio expands our presence in the western and southwestern states and strengthens our ability to serve a broader range of clients,” said James Baugh, Senior Vice President for CFI. “Given the alignment in our operations and customer credit profiles, we are well-positioned to deliver a seamless transition while enhancing the level of service our customers expect.”
Terms of the agreement are undisclosed.