SOURCE: The Interface Financial Group (IFG)

The Interface Financial Group (IFG)

May 18, 2012 20:17 ET

The Interface Financial Group Offers Spot Factoring Services in Support of Economic Recovery Among SMEs

BETHESDA, MD--(Marketwire - May 18, 2012) - According to the Interface Financial Group (IFG), North America's largest alternative funding source for small businesses, the company's spot factoring services is an innovative cash flow solution for small to medium-sized enterprise (SMEs) to continue funding their businesses. As the sector continues to recover economically, factoring is the funding choice for many small businesses seeking growth and expansion financing during these economic times.

"Business is slower than anticipated among the small business sector, even though many sectors are improving and companies are slowly adding jobs and getting new business," said George Shapiro, IFG's chairman and chief executive officer. "We have seen an increase in companies that are interested in our invoice factoring services for small business. And spot factoring provides the much needed alternative funding required by a small business to sustain growth during the slower recovery, so they can continue making payroll, purchase supplies and services, and in some cases, hire additional staff for sustained business growth."

Although the economic indicators reflect an economy that's still struggling to gain momentum -- according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) -- it is the strongest reading since May of 2007, and a good indicator that IFG's construction factoring business might be in for an increase as well. Home sales have picked up and the gradual upward trend in confidence is on the rise as stabilizing prices and home affordability encourage people to buy. This news is an excellent sign that firming home values, low mortgage rates as well as improving employment seem to be drawing consumers back.

Unlike a loan spot factoring is the purchase of one single invoice. For example, when using spot factoring for funds, a construction firm can realize a fast turnaround on a single invoice due for the completed stages of a construction project -- even within 24 hours. Spot factoring requires no co-signers or fees upfront. IFG has no minimum sales volume requirements, and professional fees are competitive.

IFG 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.

In addition to Spot Factoring, IFG's private label solutions also 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.

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.

Contact Information

  • Kristin Gabriel
    MarCom New Media
    T: 323.650.2838
    E: Email Contact
    Headquarters: The Interface Financial Group
    7910 Woodmont Avenue, Suite 1430
    Bethesda, MD 20154
    T: Toll Free: USA -- 877.210.9748
    T: Toll Free: Canada -- 877.340.6893