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
IFG Network LLC, the Operational Company of The Interface Financial Group (IFG), Launches IFG Network Australia
IFG Looks to Boost Business Opportunities Through Syndication Network in Australia and New Zealand
BETHESDA, MD--(Marketwire - December 15, 2009) - IFG Network LLC, the operational company of
The Interface Financial Group (IFG), has launched operation in Australia
through its new subsidiary IFG
Network Australia Pty Ltd. in Sydney. IFG is North America's largest
alternative funding source for small business, providing short-term
financial resources including invoice factoring.
"With this new initiative we are looking to boost the business of present
and future IFG offices in Australia and New Zealand through our syndication
activity," said Chairman of IFG and Chief Executive Officer of IFG Network
George Shapiro. "I also welcome David Hechter who has been appointed as
chief operating officer of IFG Network Australia."
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.
Bank loans involve two parties, while invoice
factoring involves three parties, and while 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 a company's
receivables. IFG looks at the credit worthiness of a client's customers and
once approved, pays within as little as 24 hours. IFG does not expect to
buy 100 percent of a company's receivables, and there are no minimum or
maximum sales volume requirements. 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.
Factoring starts 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.
IFG's private label factoring
products include Export Factoring, providing factoring services for
companies who export from the United States and Canada; P.O. Funding to
finance purchase orders when a company receives a purchase order and needs
to purchase supplies to fulfill the order; and Inventory Financing, a
solution promoting a company's growth by funding them when they must expand
and purchase inventory.
About IFG Network LLC
The operational company of The Interface Financial Group (IFG), IFG Network
LLC offers invoice factoring services to small and medium-sized businesses,
providing funding for working capital by purchasing the client's invoices.
The United States-based company is headquartered in Bethesda, Maryland.
(www.ifgnetwork.com)
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, New
Zealand, and Singapore, and offers cross-border transaction facilities.
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.