ABFA elects new chairman

Maurice Craft, managing director of Bury, Lancashire-based Regency Factors, has been elected as the new chairman of the Asset Based Finance Association (ABFA).

Having been involved in international trade and the finance industry for over 31 years, Maurice brings with him a great wealth of knowledge and expertise of the asset based finance industry. Maurice founded Regency Factors with his wife Hilary in 1991 to provide factoring facilities for small, fast-expanding businesses. The company has enjoyed continued growth and now provides funding for more than 150 companies in the United Kingdom.

In his new role Maurice is keen to drive forward the industry and is particularly passionate about factoring and invoice finance companies assisting SMEs in the current economic climate.

He said; "It is a real honour to be elected as the chairman of the ABFA. The organisation's membership supports over 48,000 companies in the UK and it is this flexibility and guidance that will ensure that SMEs prosper through today's challenging market."

Kate Sharp, chief executive officer of ABFA, said; "Maurice has been an active member of the ABFA for over 10 years. Throughout this time it is his passion and enthusiasm that has made him a great ambassador for the industry. I look forward to working with him closely over the next 12 months."

Maurice Craft takes over the chairmanship of the ABFA from Tim Corbett, who held the post for the last year.

Author: The Asset Based Finance Association, 27/07/2009