Tuesday, December 14th, 2010 - The Interface Financial Group
The Interface Financial Group (IFG), a growing source of alternative funding for Australian small businesses, announced that the company offers support to small businesses that are still struggling to obtain finance from the major and regional banks. IFG provides short-term financial resources including single invoice factoring to companies in Australia, New Zealand, the UK, Ireland, the United States, Canada, and Singapore

Following the RBA’s 25-basis point increase in the cash rate in early November, the media focus has been largely on the Banks’ increasing their lending rates above this level. Recent figures released from Canstar Cannex indicated that secured loans to businesses have a margin of nearly 2 percent higher versus residential mortgages.

David Hechter, chief operating officer for IFG in Australia said the real issue for small business is funding accessibility. “The focus on interest rate movements has missed the point from a small business perspective. The fact is that most small business owners cannot get a bank loan in the first place so interest rate levels are largely irrelevant. Small businesses are, however, seeing growth opportunities from Australia’s resilient economy which is why we believe that right now, invoice factoring or invoice discounting can be of benefit to many small businesses.”

Invoice factoring is not a loan rather it is the purchase of financial assets, or receivables, from a factoring company. Factoring differs from traditional bank loans in that bank loans involve two parties, while factoring involves three parties. Banks base their decisions on a company’s credit worthiness, whereas factoring is based on the value of the receivables.

Factoring belongs to the family of debtor finance products where a company can use one of its most valuable assets – its strong customer base – as a source of cash flow by selling these invoices to a factoring company. With invoice factoring, there are no minimums, no maximums, no long-term commitments and no lengthy application process.

Video

Contact Profile

The Interface Financial Group


The Interface Financial Group (IFG) provides short-term financial resources including invoice factoring (invoice discounting). IFG launched the Australia operation in 2006 following the success of its New Zealand businesses which commenced in 2004. IFG's innovative products also includes spot factoring – the purchase of a single invoice or number of invoices. IFG does not require the whole debtor book.

The IFG Network is the funding arm of The Interface Financial Group providing capital and transactional support to IFG's international office network. IFG has grown to over (150) international offices in Australia, UK, the United States, Canada, Ireland, New Zealand, and Singapore. Each IFG office is managed on a local level, providing immediate service to clients with local knowledge and experience. This makes IFG unique to all other factoring companies in the Australia. The IFG team has substantial business experience and expertise in numerous diverse areas, including accounting, finance, law, marketing, banking, etc.
David Hechter
P: 1300 957 900
M: 0408 466 170
W: www.ifgnetwork.com.au

Keywords

Factoring, Invoice Factoring, Factoring Company, Debtor Finance

Categories

Sharing

More Formats