Oxford Commercial Finance (OCF), a subsidiary of Oxford Bank, announced its Senior Vice President and Managing Director, Robyn Barrett, has been named incoming president of the American Factoring Association (AFA) for a two-year term.
Barrett has been an active volunteer board member since 2019 and previously served as marketing committee chairperson for AFA, the sole body representing the factoring industry at the federal and state legislative level. AFA educates key stakeholders within government and business on the ability for factoring to drive business and support a heathy economy. To date, the AFA has conducted over 200 meetings with officials, including U.S. Senators and members of Congress.
“I’m honored to lead the AFA board and give back by advocating and educating on the benefits of factoring. Our goals at the AFA are to protect the industry and build relationships with key stakeholders, such as government officials and business leaders,” said Barrett. “We ultimately create engagement and demonstrate how important factoring is to small business.”
Barrett recently attended the AFA Washington D.C. visit in March 2023, where she advocated for meaningful and accurate factoring disclosure requirements at a state and, possibly, federal level.
OCF President Mick Goik said, “When companies experience a cashflow shortfall, factoring can provide immediate capital based on future income. It can be an effective way for companies to leverage their accounts receivable to meet goals. Robyn has been a vocal champion for the factoring community for years. She is passionate about helping companies secure the capital they need to overcome gaps in cashflow, drive growth and scale. I can’t think of a better person to lead the AFA board and lobby for the industry.”
Backed by over 100 years of combined commercial financing experience, OCF assists small and mid-sized businesses to scale through creative financing options, which include:
- Accounts Receivable Funding to generate immediate cash flow from accounts receivable
- Asset Based Lending to unlock cash tied up in accounts receivable, inventory and equipment
- Leasing to finance critical equipment
- Term Loans to access flexible funding options to enable business growth