The Commercial Finance Association has rebranded as Secured Finance Network (SFNet) in time for its 75th anniversary.
Executives say the re-brand underscores the industry's crucial role in providing secured financing to businesses to drive economic growth.
The international association's tax-exempt affiliate, CFA Education Foundation, has also changed its name to Secured Finance Foundation.
Founded in 1944, the Secured Finance Network (formerly Commercial Finance Association) is an international trade association for companies and professionals providing secured financing to businesses. It has more than 1,000 member organizations throughout the US, Europe, Canada and around the world.
A Foundation study this year revealed the impact of secured commercial finance in the US for the first time. The industry delivered more than $4 trillion in secured financing to one million US businesses during 2018, affecting an estimated 20% of the gross domestic product (GDP), directly or indirectly.
The research provided other insights into the market, which encompasses related, but distinct, segments of finance including asset-based lending, factoring, supply chain finance, equipment leasing and finance, leveraged and cash-flow loans, and asset-backed securities.
CEO Richard Gumbrecht (pictured) said: “Last year, the association announced its intention to rebrand over an 18-month period. We have completed the transition, just as we are preparing for our 75th anniversary celebration.”
The celebration takes place on November 13-15 at the SFNet Annual Convention in New York City.
David Grende, SFNet president and CEO and president of Siena Lending Group, said: “I'm excited about the future of Secured Finance Network. The new brand preserves those attributes that our members highly value – networking, valuable data, relevant education and advocacy – and reinforces the characteristics of our diverse community, which is forward-looking, welcoming and dynamic.”
Jennifer Palmer, SFNet Marketing Committee chair and president of Gerber Finance, said: "Over the years our association has served a wide range of professionals with programs, events and resources that have often been separately branded, making it difficult for people to understand our breadth. The new master brand is unifying, allowing us to present our offerings more coherently."