SOURCE: The Interface Financial Group (IFG)
BETHESDA, MD--(Marketwire - Jul 12, 2012) - According to The Interface Financial Group (IFG), North America's largest alternative funding source for small to medium-sized enterprises, invoice factoring will benefit contractors since President Obama signed the $104.4-billion Moving Ahead for Progress in the 21st Century Act (MAP-21) 27-month highway-and-transit authorization bill on July 6.
Typically transportation enhancement projects, many being non-motorized transportation infrastructure projects like sidewalks, bike paths, trails and other construction projects, generated more jobs than any other form of ARRA transportation construction, says a January 2012 study of American Recovery and Reinvestment Act transportation investment which was conducted for the American Association of State Highway and Transportation Officials.
The Interface Financial Group's factoring services provide contractors with an innovative cash flow solution that will complement the construction sector as it continues overall economic recovery in years to come. Invoice factoring is the funding choice for many small business seeking growth and expansion financing.
"MAP-21 will stimulate ancillary construction in the U.S. -- offering contractors and associated service providers more work," IFG Chairman and Chief Executive Officer George Shapiro said. "Investing in transportation infrastructure will undoubtedly generate many jobs within the construction industry and in doing so invoice factoring can assist both general and sub-contractors in keeping the cash flowing."
Transportation enhancement projects generated 17.03 full-time equivalent planning and construction jobs per $1 million invested, according to the study, while comparatively, pavement widening came in at 12.69 jobs per $1 million, and road resurfacing at 9.01 jobs per $1 million.
In addition to being one of the only factoring companies in the industry to offer Construction Factoring, IFG's other private label solutions include: Export Factoring, providing services for companies who export from the United States and Canada; P.O. Funding to finance purchase orders when a company receives a purchase order and needs to purchase supplies to fulfill the order; and Inventory Financing, a solution promoting a company's growth by funding them when they must expand and purchase inventory.
The company does not expect to buy 100 percent of a company's receivables and professional rates are competitive. The program allows choices of invoices to be factored, enabling customers to retain most of their money, to spend the minimum fees, plus guarantee adequate cash flow.
About The Interface Financial Group (www.ifgnetwork.com)
The Interface Financial Group (IFG) is North America's largest alternative funding source for small business, providing short-term financial resources, including invoice factoring services (invoice discounting). The company serves clients in more than 30 industries in the United States, Canada, Singapore, Australia, New Zealand, UK and Ireland, and offers cross-border transaction facilities. With more than 140 offices across North America and over 39 years of experience, IFG provides innovative accounts receivable factoring services and solutions by offering short-term working capital to growing businesses. Single invoice factoring, or spot factoring, is an extremely fast way to turn receivables into cash.
IFG was founded in 1972 to provide short-term working capital to help small to medium-sized businesses grow. The IFG organization operates on a local level, providing clients with local knowledge and experience and business expertise in numerous diverse areas in addition to accounts receivable factoring, including accounting, finance, law, marketing and banking.