Pismo Beach, CA – June 14, 2010 - The International Factoring Association (“IFA”) today announced that three new members were appointed to its Board of Advisors for 2010-2012. The new advisory board members will serve a two-year term. The board members will assist the IFA in broadening the public understanding of the uses and benefits of factoring,  help to design training programs, help to foster new ideas and innovations that benefit its’ member organizations. The new members appointed to the 2010-2012 Board of Advisors include: Paul Cottone, Allied Affiliated Funding, Dallas, TX;  Oscar Rombola – ITC Invoice to Cash – Mississauga, ON, CANADA; and Tim Valdez – Transportation Alliance Bank – Ogden, UT.

Paul joined Allied in March of 2009 as Executive Vice President. He is responsible for Allied’s strategic alliances and for the integration and systematic approach of Allied’s acquisition opportunities. Prior to joining Allied, Paul was employed by Textron Financial, serving as SVP and Managing Director for the Finance Company Services Division of Textron Financial Corporation. Paul has significant experience in structuring, pricing, and syndicating senior debt facilities for independent commercial and consumer finance companies. Prior to joining Textron Financial, Paul served as SVP and Division Manager for the Rediscount Finance Group of Fleet Bank. In addition, Paul held leadership positions at Bank of America Business Credit Specialty Finance Group where he was SVP and Group Executive and at CIT Credit Finance, Inc. where he was SVP and Eastern Regional Manager.

 “We are very pleased to have the opportunity to bring the expertise and insights of such a distinguished group of individuals to our advisory board”, said Bert Goldberg, Executive Director of the International Factoring Association.  “I look forward to working with all of them over the next twenty four months”.

About the International Factoring Association

 Headquartered in Pismo Beach, California and with over 350 corporate members, the International Factoring Association is the largest association of commercial finance companies in the world.  Members include factoring companies, asset based lenders and other receivables finance companies.  Since 1999, the International Factoring Association has provided a forum for member organizations to meet and discuss issues and concerns, share best practices, disseminate information and promote a single voice to the marketplace.  The principal spokesperson for the factoring and receivables finance industry is the International Factoring Association’s Bert Goldberg.  For more information visit www.factoring.org.