Popularity of Invoice Finance Continues
More cash for SME's as ABL expects more growth
(firmenpresse) - BIRMINGHAM, WEST MIDLANDS -- (Marketwire) -- 05/14/12 -- Editors Note: There is a photo accompanying this press release.
The Interface Financial Group (IFG), North America's largest alternative funding source for small businesses, announced that the company offers support to small businesses that are struggling with raising capital to fund growth prior to economic recovery. IFG provides short-term financial resources including , , and to companies in the UK, Ireland, United States, Canada, Australia, New Zealand, and Singapore.
In a new survey from the Asset Based Finance Association (ABFA), businesses expect to be turning to releasing more cash from their assets by using through either or .
The report suggests that the take up of is set to grow by 9% in 2012. Total funding provided by the sector for the benefit of UK and Ireland firms is forecast to reach GBP 17.2bn in 2012.
There is also some good news and optimism from the businesses surveyed, as members were asked to predict their industry growth figures for the following year. This revealed forecasts that turnover from companies using asset based finance in 2012 will hit GBP 259bn, up 12% from GBP 235bn in 2011.
Although only a relatively small proportion of the total number of firms in the UK & Ireland use the popularity of the option to release cash from invoices as opposed to more traditional options like overdrafts or loans looks set to continue with the number of clients using or expected to increase by 7% to peak at 44,412.
Overall the expectations of funders in the UK who were surveyed were more cautious about the overall picture for UK PLC, with many feeling that the economy will not pick up in 2012 and could possibly worsen.
Paul Barnsley, chief operating officer for The Interface Financial Group (IFG) said "as a funder offering a different option to businesses like and , it is great to see the figures rising. We speak to businesses on a daily basis who are not short of work or opportunities to grow their business, but who are extremely frustrated at the lack of available finance to help them. It is a situation that we must support. We see many businesses, particularly those in the construction industry struggling to get access to cash to fund projects, but there is help available to them with our product. Confidence is certainly there from the funders who are pushing for the growth in , but we need that confidence to be felt from business owners generally. There is still much more to be done to make access to finance easier to SME's, without going back to reckless lending. I am pleased to say that the community is here & willing to help.
About The Interface Financial Group ()
The Interface Financial Group (IFG) provides short-term financial resources including (invoice discounting). IFG launched the UK operation in 2010 following the success of its New Zealand, and Australia businesses which launched in 2004, and 2006. IFG's innovative products also includes spot factoring - the purchase of a single invoice or number of invoices. IFG does not require the whole debtor book.
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 the UK, the United States, Canada, Ireland, Australia, 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 the UK. The IFG team has substantial business experience and expertise in numerous diverse areas, including accounting, finance, law, marketing, banking, etc.
To view the photo accompanying this press release, please visit the following link:
Contacts:
Media Contact:
The Interface Financial Group
David Pearce, Director
0845 834 0332
Headquarters: The Interface Financial Group
31 The Old Wood Yard
Hall Drive
Hagley
Worcestershire
DY9 9LQ
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Datum: 14.05.2012 - 12:00 Uhr
Sprache: Deutsch
News-ID 145902
Anzahl Zeichen: 4412
contact information:
Town:
BIRMINGHAM, WEST MIDLANDS
Kategorie:
Insurance
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