SOURCE: The Interface Financial Group (IFG)

The Interface Financial Group (IFG)

August 17, 2011 08:00 ET

The Interface Financial Group Notes Factoring Fills Gap for Small Business Woes

Studies Show Gap: NFIB's Index Measuring Small Business Optimism Dipped for the Fourth Consecutive Month in June

BETHESDA, MD--(Marketwire - Aug 17, 2011) - According to the National Federation of Independent Business (NFIB) most recent survey, hiring and the mood among small business owners continued on a downward spiral. The NFIB's index, which measures small business optimism, dipped for the fourth consecutive month in a row in June.

U.S. small business owners know that there is a gap in banks meeting the financial needs of U.S. small businesses. The Interface Financial Group (IFG) notes that factoring can fill this gap among small businesses globally, ultimately aiding the worldwide economy.

According to survey results from an industry group, only 11 percent of small businesses expect to add jobs in the next three months, down from 13 percent in May, and compared to 16 percent figures in April and 18 percent in March. The good news was that 7 percent of small businesses expect to reduce their workforce, down from 8 percent in May, and up from 6 percent in April.

Many small business owners have admitted that if they were to receive any funding, they would plan on hiring an average of around eight new employees. Additionally, most business owners are intimidated by the loan application process.

"The fact that many small business owners have indicated that they are afraid of the loan process actually makes accounts receivable factoring appear less threatening," said George Shapiro, chairman and chief executive officer of IFG. "The process for invoice factoring is much easier than getting a loan. There are no accounts to open, no upfront fees, and there are no minimums or maximums, co-signers or long term commitments required."

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 (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

  • Media Contacts:
    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

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