Invoice Discounting Replaces Borrowing from Friends and Family

Sydney, NSW (PR Wire –26April 2012) – The Interface Financial Group (IFG), a growing source of alternative funding for Australian small businesses, announced that it is seeking to work with Australian small business owners who are either unable or unwilling to borrow money from "friends and family" as a means of cash flow for their businessess. IFG provides short-term financial resources including selective invoice discounting and spot factoring to companies in Australia, New Zealand, the UK, Ireland, the United States, Canada, and Singapore.

According to a recent study by the Commonwealth Bank of Australia, nearly 20% of people have damaged relationships with friends over borrowed funds. The study also showed that nearly half (49%) of the respondents cited "unforeseen or emergency situations" as the main reason why they sought out the loan in the first place.

David Hechter, chief operating officer for IFG in Australia, said that most small business owners turn to family and friends because they are not aware of the alternatives. “Most small business owners only think about their bank as a source of credit. When that is not an option, they immediately turn to friends and family because they do not realise that there are other financial instutions in the debtor finance sector who specialise in providing working capital to SME's. Plus, it makes more sense to separate your personal relationships from your business activities."

By working with one of Australia's factoring companies, SME's can realise superior benefits as compared to typical bank facilities. For business owners who only have a temporary cash flow need due to an unforeseen event, 'spot' factoring can be particularly useful as the facility can be utilised only when required without a long-term contract carrying break fees. In addition, a factoring or invoice discounting facility can grow in line with the value of the accounts receivable.

With invoice factoring and discounting, 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