Struggling Small Businesses Have Alternative Financing Option in Lancaster
Invoice Discounting Offers Hope for Small Business to Obtain Funds During Economic Downturn.
Lancaster, PA, March 12, 2009 --(PR.com)-- The Interface Financial Group (IFG) is offering small businesses in the Lancaster area a lifeboat to stay afloat until economic conditions improve, according to Rick Creamer, president of IFG’s Lancaster office.
As North America's largest alternative funding source for small business, IFG offers accounts receivable invoice discounting that provides a 24-hour turnaround, speeding up cash flow while businesses wait for late payments.
"Payments are running later than ever, and many businesses are finding themselves strapped for cash for the first time," said Creamer. "The reality is that bank loans take a long time to process while factoring is a 24-hour turnaround."
Factoring companies like IFG are experiencing an increase in the number of small businesses that are taking advantage of single invoice discounting solutions that can help them stay afloat during these tough economic times.
IFG’s clients are usually companies that have less than $100,000 worth of receivables each month. IFG is also willing to take one invoice for $1,000 from a company or just take invoices for a month or two – a process known as “spot factoring.” This differentiates IFG from larger traditional factoring companies that typically require a contract for a year or 18 months and also may require that the company turn over all accounts receivable to them.
Many Lancaster businesses turn to invoice discounting because their credit or business situation isn’t a critical factor in determining funding. IFG looks at the credit of the company’s clients because that is who will be paying, Creamer said.
“The real market for invoice discounting, more than anything, is small businesses who are trying to grow,” he said. “I have clients who have taken on new contracts, but they don’t have the cash flow to be able to support taking on any more contracts. Their biggest expense typically is payroll, so IFG can not only help them grow their business, we can help ensure that people stay employed.”
For more information, visit www.interfacefinancial.com/creamer or call 717-560-2224.
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About The Interface Financial Group
The Interface Financial Group (IFG) is North America's largest alternative funding source for small business, providing short-term financial resources including invoice discounting (spot factoring). The company serves clients in more than 30 industries in the U.S., 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 discounting solutions by offering short-term working capital to growing businesses. The company operates on a local level, providing clients with local knowledge and experience and business expertise in numerous diverse areas including accounting, finance, law, marketing and banking.
As North America's largest alternative funding source for small business, IFG offers accounts receivable invoice discounting that provides a 24-hour turnaround, speeding up cash flow while businesses wait for late payments.
"Payments are running later than ever, and many businesses are finding themselves strapped for cash for the first time," said Creamer. "The reality is that bank loans take a long time to process while factoring is a 24-hour turnaround."
Factoring companies like IFG are experiencing an increase in the number of small businesses that are taking advantage of single invoice discounting solutions that can help them stay afloat during these tough economic times.
IFG’s clients are usually companies that have less than $100,000 worth of receivables each month. IFG is also willing to take one invoice for $1,000 from a company or just take invoices for a month or two – a process known as “spot factoring.” This differentiates IFG from larger traditional factoring companies that typically require a contract for a year or 18 months and also may require that the company turn over all accounts receivable to them.
Many Lancaster businesses turn to invoice discounting because their credit or business situation isn’t a critical factor in determining funding. IFG looks at the credit of the company’s clients because that is who will be paying, Creamer said.
“The real market for invoice discounting, more than anything, is small businesses who are trying to grow,” he said. “I have clients who have taken on new contracts, but they don’t have the cash flow to be able to support taking on any more contracts. Their biggest expense typically is payroll, so IFG can not only help them grow their business, we can help ensure that people stay employed.”
For more information, visit www.interfacefinancial.com/creamer or call 717-560-2224.
###
About The Interface Financial Group
The Interface Financial Group (IFG) is North America's largest alternative funding source for small business, providing short-term financial resources including invoice discounting (spot factoring). The company serves clients in more than 30 industries in the U.S., 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 discounting solutions by offering short-term working capital to growing businesses. The company operates on a local level, providing clients with local knowledge and experience and business expertise in numerous diverse areas including accounting, finance, law, marketing and banking.
Contact
Interface Financial Group
Rick Creamer
717-560-2224
www.interfacefinancial.com/creamer
Rick Creamer
717-560-2224
www.interfacefinancial.com/creamer
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