Debtor financing company Oxford Funding, a wholly owned subsidiary of Bendigo Bank, has formed a strategic relationship with China Merchants Bank to support entry into the factoring market servicing companies trading with Asia.Bendigo Bank has historically had little exposure to any form of business banking and thus no exposure to trade flows. The bank bought Oxford Funding two years ago.Ralph Long, chief of executive of Oxford Funding, said yesterday he envisages around 50 per cent of Oxford revenue would be derived from international markets in around ten years. Currently around five per cent of Oxford revenue is from international markets.The Bendigo annual report shows Oxford has a $54 million overdraft facility, of which $32 million has been utilised, with the bank providing a growth target of 10 per cent for the next four years."It is certainly achievable, and of course I want to do more business."Oxford, which says it is the only Australian company to offer non-recourse factoring, has achieved 60 per cent revenue growth in recent years.International export factoring facilitated by FCI members across Asia Pacific has increased 20 per cent in the last year, with total turnover of $248 billion, according to the industry body."Through education I think the market can grow extremely significantly. This is a relatively new product in Australia, with most companies operating on letters of credit." Funding sizes vary from a minimum base of around $50,000 for growing companies with potential, with funding stretching above ten million for top quality customers. All invoice collections will still be handled from Australia.