Finance Brokers Can Diversify Income With Invoice Factoring

Sydney, NSW (PR Wire –16 December 2011) – The Interface Financial Group (IFG), a growing source of alternative funding for Australian small businesses, announced that the company's distribution strategy will include an increasing number of mortgage brokers who are seeking to diversify their income streams by offering finance options to clients who are also small business owners. IFG provides short-term financial resources including single and batch invoice discountingto companies in Australia, New Zealand, the UK, Ireland, the United States, Canada, and Singapore.

The overall slowdown in the mortgage market and the increased concentration of mortgage market share with the major banks could result in a margin squeeze on broker commissionsin Australia. With the added costs of regulatory compliance from the National Consumer Credit Protection legisltation, mortgage brokers are reviewing their strategies and looking to diversify the credit products that they can offer to their clients.

David Hechter, chief operating officer for IFG in Australia, said that mortgage brokers have a great opportunity to diversify into small business finance products such as invoice factoring. “Small business owners are more likely to use a mortgage broker for a home loan becausethey often cannot demonstrate theregular income that most banks like to see and therefore need to know what the alternatives are. These same business owners may also benefit from knowing about the commercial factoring options available to help their business obtain the cash flow required for growth. It becomesa win-win situation as the client can obtain finance via a broker who already knows them and the broker can deepen the relationship with the client. The end result is a more satisfied client and additional commission income from a broker's existing client base.”

By discounting invoices through one of Australia's factoring companies, SME's can realise superior benefits as compared to conventional bank loans. Invoice discounting allows a small business to use the facility only as required without having to be locked in for a particular term. In addition, a factoringor invoice discounting facility can grow in line with the value of the accounts receivable.

Factoring belongs to the family of debtor finance products where a company can use one of its most valuable assets – its strong customer base – as a source of cash flow by selling these invoices to one of Australia's factoring companies. Withfactoring, there are no minimums, no maximums, no long-term commitments and no lengthy application process.

About The Interface Financial Group (www.ifgnetwork.com.au)
The Interface Financial Group (IFG) provides short-term financial resources including invoice factoring (invoice discounting). IFG launched the Australia operation in 2006 following the success of its New Zealand businesses which commenced in 2004. IFG's innovative products also include spot factoring – the purchase of a single invoice or a selective batch of invoices. IFG does not require the whole debtor book for funding.

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 Australia, UK, the United States, Canada, Ireland, 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 Australia. The IFG team has substantial business experience and expertise in numerous diverse areas, including accounting, finance, law, marketing, banking, etc.


W: http://ifgnetwork.com.au/
Headquarters:
The Interface Financial Group
Suite 1, Level 3, 179 New South Head Road
Edgecliff, NSW 2027
T: Toll Free: 1300 957 900