119 response to the global financial crisis , a catastrophe which cost the US alone an estimated $ 22trn . The response to the crisis , Rolfe explains , was similar in a lot of ways to the market ’ s response to COVID-19 .
“ Liquidity dried up and smaller suppliers were unable to access working capital through normal banking relationships , as well as through the invoices that were outstanding from their customers ,” he says . C2FO , Rolfe continues , was established in response to the need to get liquidity flowing out of the banking system , as well as from buyer to supplier .
Even when the world isn ’ t languishing in the grip of a pandemic or financial crisis , Rolfe explains that there is a fundamental issue with the way that suppliers are often forced to acquire their working capital .
“ Lack of liquidity is a situation that our customers and suppliers face
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