The Interface Financial Group Predicts Improvement in Construction Factoring Due to June 15% Gain in Starts
McGraw-Hill Construction Reports Rise in June Construction Starts, Which Means Contractors May Need to Use Construction Factoring Services to Generate Cash
(firmenpresse) - BETHESDA, MD -- (Marketwire) -- 08/23/11 -- According to The Interface Financial Group (IFG), the July 22, 2011 construction report from McGraw-Hill Companies regarding a 15 percent increase in new construction starts in June was a good indication that construction will soon gain as well.
The report said nonresidential building registered improvement in June, while housing edged up slightly. However, during the first six months of 2011, total construction starts on an unadjusted basis were at $198.2 billion, which was down 7 percent overall from the same period in 2010.
Contractors, sub-contractors, or construction companies from within this sector benefit from more than many other business sectors. When a contractor uses a factoring company, the construction firm can realize a fast turnaround in cash, within 24 to 48 hours for accounts receivable that are due for the completed stages of a given construction project.
According to IFG's Chairman and Chief Executive Officer George Shapiro, " is often favored by the building industry because a contractor cannot begin construction on a new project if they have not been paid for the last phase. They would typically need the working capital to hire labor and or buy supplies. Therefore, factoring enables a faster turnaround on construction projects."
The Interface Financial Group is one of the only factoring companies that has been offering construction factoring for more than 40 years. Unlike a loan, is the purchase of financial assets, or receivables accounts by a factoring company. There are no credit checks or upfront fees and no co-signers required. IFG has no minimum sales volume requirement, and professional fees are competitive.
The Interface Financial Group (IFG) is North America's largest alternative funding source for small business, providing short-term financial resources, including (invoice discounting). The company serves clients in more than 30 industries in the United States, Canada, Singapore, Australia, New Zealand, UK and Ireland, and offers cross-border transaction facilities. With more than 140 offices across North America and over 39 years of experience, IFG provides innovative accounts receivable and 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.
Kristin Gabriel
MarCom New Media
T: 323.650.2838
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Bethesda, MD 20154
T: Toll Free: USA -- 877.210.9748
T: Toll Free: Canada -- 877.340.6893
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Datum: 23.08.2011 - 21:24 Uhr
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News-ID 58542
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BETHESDA, MD
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Commercial & Investment Banking
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