FactorPlus was invited to present trade finance solutions and be part of a key panel at the first Caribbean Pacific Agri-Food Forum which was held Nov 2 - Nov 5 at the University of the West Indies in Barbados.
FactorPlus’ Head of Business Development for the North/East Caribbean Region and leader in charge of FactorPlus St. Maarten, Paul Dijkhoffz, presented the benefits of ‘Factoring’ (a trade finance solution) on behalf of the company to an audience consisting of some 250 leaders, decision-makers and agri-food actors which gathered to engage in collective actions that can contribute to the transformative efforts of agriculture in the Caribbean/Pacific regions.
“Our presentation was very well received as the main challenge faced by farmers in the region is the access to suitable financing”, according to Paul Dijkhoffz. “Farmers in the region face an average of 70 days after delivery of their produce when they get paid by their clients. This is a serious threat to their continued existence and many go out of business for this exact reason. FactorPlus offers a flexible cash flow solution (called Factoring) which businesses, farmers included, can use as to enhance cash flow, in order to safeguard their future crops and lower their credit risk without the need for traditional collateral”. It’s a win-win solution and we are working to offer this solution throughout the region in collaboration with the various agriculture associations in the short term, concluded Dijkhoffz.
The Caribbean Pacific Agri-Food Forum was organized by CTA, The Technical Centre for Agricultural and Rural Cooperation which is a joint international institution of the African, Caribbean and Pacific (ACP) Group of States and the European Union (EU). Its mission is to advance food and nutritional security, increase prosperity and encourage sound natural resource management in ACP countries. It provides access to information and knowledge, facilitates policy dialogue and strengthens the capacity of agricultural and rural development institutions and communities. CTA operates under the framework of the Cotonou Agreement and is funded by the EU.