Contact Information: Media Contact: Kristin Gabriel MarCom New Media T: 323.650.2838 E: Headquarters: The Interface Financial Group, Inc. 7910 Woodmont Avenue, Suite 1430 Bethesda, MD 20154 T: Toll Free: USA; 877.210.9748 Canada; 877.340.6893
The Interface Financial Group's New Funding Solutions Help Small Businesses Leverage Assets
New Private Label Funding Solutions Include: Export Factoring, P.O. Funding and Inventory Financing
BETHESDA, MD--(Marketwire - September 22, 2009) - The Interface Financial Group (IFG), North
America's largest alternative funding source for small business, today
announced three new private label products including: 1) Export Factoring,
2) P.O. Funding, and 3) Inventory Financing, to support the growing demand
from businesses. IFG provides short-term financial resources including single invoice factoring to companies
in the United States, Canada, Australia, and New Zealand, and offers
cross-border transaction facilities between the U.S. and Canada.
Export Factoring provides factoring services for companies who export from
the United States and Canada. P.O. Funding finances a purchase order. When
a company receives a purchase order and needs to purchase supplies to
fulfill the order, IFG's P.O. Funding provides services to finance the
order. IFG's Inventory Financing solution promotes a company's growth by
funding them when they must expand and purchase inventory.
"These new private label solutions confirm IFG's commitment to support the
working capital needs of our small business clients in the face of the
economic conditions and tighter credit constraints at mainstream banks,"
said George Shapiro, chief executive officer, The Interface Financial
Group, Inc. "Accounts receivable factoring leverages the funds that a
company expects to have coming in 30/60 or 90 days out, providing cash to
cover manufacturing costs and supplies, fund a purchase order or finance
new inventory."
Standard accounts
receivable factoring has been around for more than 4,000 years, while
today IFG is finding that single invoice factoring is a popular new tactic
allowing companies to factor one invoice at a time. Invoice factoring
benefits businesses that do not get paid for 30 to 60 or 90 days by
advancing up to 90 percent against invoices. IFG looks at the
creditworthiness of the client's customers and can fund within as little as
24 hours. The company does not expect to buy 100 percent of a company's
receivables, and there are no minimum or maximum sales volume requirements.
Invoice
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 is not a loan -- it is the
purchase of financial assets, or receivables.
IFG's professional rates are competitive because each client's
circumstances vary, which may have an impact on the fees charged. The
program allows choices of invoices to be factored, enabling customers to
retain most of their money, while spending the minimum fees to guarantee
adequate cash flow.
The factoring process begins with due diligence that typically takes one to
two business days, and after this has been completed the client is at
liberty to offer invoices to IFG for purchase. Upon receipt of invoices,
IFG checks the credit of the debtor named on the invoice and makes sure
that the sale represented has been satisfactorily completed. Once this is
done the debtor is advised of the purchase by IFG and the client receives
their funding.
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, Australia, and New
Zealand, and offers cross-border transaction facilities between the U.S.
and Canada. With more than 140 offices across North America and over 35
years of experience, IFG provides innovative invoice factoring 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.