NEW YORK -- Secured lending to retailers will be one of the panel programs at the upcoming Commercial Finance Association convention to be held in San Francisco Nov. 9-11.

The parley will also feature a panel on the trading of bank and vendors' claims against firms in Chapter 11 or against other financially ailing companies.

The retail panel will be moderated by Ben A. Gay, Seattle First National Bank, Seattle. In a telephone interview, Gay said that banks and commercial finance companies in the past have been reluctant to lend to retailers, but in the past couple of years this has changed. One reason, he said, was that once a retailer's inventory is pledged as collateral, it was very difficult for the retailer to obtain trade credit.

"Factors took a very dim view of approving credit to any retailer whose inventory was subject to a lender's lien," he said.

However, he added, in recent years, attitudes have changed and asset-based lenders have become more aggressive.

Panel members for the retail session are Alan Cohen, Alco Capital Group; Robert S. Paul, Coopers & Lybrand, Chicago, and Edward J. Siskin, GBSC Inc., Boston.

The trading of claims panel will be moderated by Andrew H. Tananbaum, Century Business Credit Corp. Panel members are Herbert L. Ash, Han & Hessen; Paul Debban, Seidler Cos., Los Angeles, and Irwin Gold, Houlihan, Likey, Howard & Zukin, Los Angeles.

Other panels are planned to cover the turnaround industry and cross-border lending under the North American Free Trade Agreement.

-- Fairchild News Service

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