01.04.2020

BNP Paribas Commercial Finance’s CEO Frédéric Fontaine recalls the engagement of the asset based lending community during the COVID-19 crisis.

To protect ourselves and others, we must stay at home. From there, we can continue working in strict compliance with the guidelines given by our governments. And it is precisely what is going on at BNP Paribas Commercial Finance.

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We fully assume our mission with the global economy. In line with BNP Paribas, we are committed to supporting our country's economy and businesses. It is our purpose. The future of our society depends on it. We all know that only prosperity can bring the scientific, technological, technical and social progress that we need.

We are keeping our promise to our customers by continuing to provide the service they need in these challenging times. Since the beginning of the crisis, maintaining business continuity has been our priority. Today, our industrial backbone is operational and our teams are available to provide answers and find solutions. When engagement runs in your DNA, a health crisis like the one we are facing can only reveal your values more forcefully than ever.

As you are aware, our teams have been working in agile mode for quite a few years already. BNP Paribas has been a pioneer in new ways of working and the digital transformation. Does this mean that what is happening today is ‘business as usual’ for us?

Far from it. This crisis is a blow to our economy, and companies' cash flow, short and medium term. Factoring has an essential part to play here, as we support companies when they grow and accelerate. But we also remain by their side when growth is not there.

For those who are in business with us, your invoices already bring the cashflow that you need. You have entrusted us with your risks and we are here for you. As soon as the current crisis is over, your invoices will continue to provide the liquidity you need to support your recovery.

You might wonder if it's a good time to reflect on using receivable financing or asset based lending services. Let's talk and look into the best solutions for your working capital.

Today, we are facing a collective challenge and we stand by your side through it. Supporting companies at every stage of their lifecycle is our mission, and more than ever today, such a purpose makes sense.

I will keep you informed of any further developments over the coming days and weeks.

Let's stay united. Let's stay mobilised. Let's stay home.

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