The Interface Financial Group

The Interface Financial Group

December 21, 2011 12:00 ET

UK is Top for Invoice Finance

New Figures Show the UK as Largest Provider in Europe

BIRMINGHAM, WEST MIDLANDS--(Marketwire - Dec. 21, 2011) -

Editors Note: There is a photo associated with this press release.

The Interface Financial Group (IFG), North America's largest alternative funding source for small businesses, announced that the company offers support to small businesses that are struggling with raising capital to fund growth prior to economic recovery. IFG provides short-term financial resources including debtor factoring, invoice discounting, construction factoring and invoice factoring to companies in the UK, Ireland, United States, Canada, Australia, New Zealand, and Singapore.

The Asset Based Finance Association (ABFA) has recently released some new figures showing that turnover from UK businesses that use invoice finance is currently the highest anywhere in Europe.

The new data shows the amount of turnover by country from companies using invoice finance (which is a combination of factoring and invoice discounting) in Europe, with the UK clearly out in front with turnover figures of €122 bn. The next highest is France with €84 bn, closely followed by Italy with €82 bn. Surprisingly, Europe's largest economy, Germany, is only fourth with €75 bn.

The figures also include the percentage GDP penetration for companies using invoice finance, with the UK in second place with 14% of GDP, compared to first placed Portugal with 17% and third ranked Ireland with 11%.

Paul Barnsley, chief operating officer for The Interface Financial Group (IFG) said: "These figures confirm the crucial part that factoring and invoice discounting play in the funding of UK and Irish businesses. It is also interesting to see that nearly every European country saw clients that use invoice finance record double digit turnover growth compared to last year. This demonstrates that companies which use invoice factoring or debt factoring are successfully growing and trading, which in the current economic climate is extremely positive.

Paul added "there is a large and diverse invoice finance community here in the UK, with funders able to offer many different solutions and ways to help companies grow by using debtor factoring, invoice discounting and even construction factoring, which allows all sectors of UK business to take advantage of this type of finance.

About The Interface Financial Group (www.ifgnetwork.co.uk)

The Interface Financial Group (IFG) provides short-term financial resources including invoice factoring (invoice discounting). IFG launched the UK operation in 2010 following the success of its New Zealand, and Australia businesses which launched in 2004, and 2006. 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 the UK, the United States, Canada, Ireland, Australia, 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 UK. The IFG team has substantial business experience and expertise in numerous diverse areas, including accounting, finance, law, marketing, banking, etc.

To view the photo associated with this release, please visit the following link: http://www.marketwire.com/library/20111221-ifg800.jpg.

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