The joint venture combines two seasoned factoring operations and the expertise of RMP Trade Credit to provide receivables factoring and purchase order financing for SMEs exporting goods worldwide through the member companies and joint funding of transactions.
The joint venture will operate under the name RMP Celtic and will be incorporated in Ireland and be based out of RMP Capital Corp and Celtic Invoice Discounting Limited existing offices in Islandia, New York, USA and Dun Laoghaire, Co. Dublin, Ireland, respectively.
‘This alliance opens up massive potential for Irish businesses selling to North and South America, and introduces unique opportunities for US clients to enter in to mainland Europe, Ireland, and Eastern Europe. Celtic will be the first Irish provider to open this pathway for Irish SME’ s exporting to the vast continent of South America and this will provide many exporters here with hugely lucrative opportunities’
RMP Celtic will offer recourse factoring services and purchase order financing to the SME market and will carry the joint venture brand as well as the members own established branding in their home markets. Markets include the European Union, United Kingdom, Canada, United States, and Dominican Republic with potential for future expansion. The joint venture will work closely with export organizations to market much needed financing options and expertise seeking to export goods and services. “This joint venture will facilitate trade for SMEs located in the United States and Canada exporting goods and services to Ireland and Europe and for the United States’ 15th largest importer of goods to the United States as well as exports going to Canada and the Dominican Republic. Many SMEs avoid the very lucrative export market due to funding constraints, lack of knowledge regarding the process, or fear of the credit quality of their customers,” commented Matthew Davis of RMP Capital, “RMP Celtic will provide best-in-class funding solutions and advising services to its client base.”
Ireland is the United States’ 14th largest importer of goods and the United States is Ireland’s largest export market with $31.6 million in goods and services exported from Ireland in 2013. The United States is Ireland’s top importer of goods and the United States’ 39th largest export market.
About Celtic Invoice Discounting Limited
Celtic Invoice Discounting is the longest established independent invoice discounter in Ireland. Between Ireland and England the concept of transactional based invoice funding is unique and one in which Celtic has become a specialist provider. With offices in Dublin, Mayo and Offaly, Celtic provides instant turnaround on receivable finance for their Irish clients.
About RMP Capital Corp
RMP Capital Corp is an international provider of factoring solutions for small to medium sized businesses, public works contractors, Rediscounting lines of credit to independent factoring companies, and Import-Export Factoring worldwide. Its headquarters is located on Long Island, New York with offices in Florida, Massachusetts, Michigan, Pennsylvania, and Texas as well as established presence in the United States, Canada, and Dominican Republic.
Rita O’Brien, B.L., Director
Celtic Invoice Discounting Limited
Tel: +353 (01) 2300866
Matthew Davis, Director
RMP Capital Corp
Tel: +1 (631) 738-0047