Factoring Newsletter – April 2012


 

 

 

 

 

 Factoring News – April

Small Business Lending Is Up 

 

The Federal government reports that small business lending is up as a result of the Small Business Jobs Act of 2010. This government program encouraged smaller community banks to begin lending to small businesses to help in the economic recovery. -The report indicates that California banks have increased lending by $295 million dollars. If this amount is divided by the 1.2 million small businesses with annual revenues of less than $10 million, then each business would have received $236.49. It is difficult to hire someone and grow the business based on that amount. –more-

 

Factoring Companies Boost Small Businesses

Small businesses today are faced with so many issues. some (lawyers, financial companies and medical practitioners) are dealing with compliance issues, while others are trying to make their marketing dollars stretch. There are also many small businesses that are simply thinking about purchasing a new, and very expensive, piece of equipment and need capital fast? Factoring may be the easiest way to drum up cash in a pinch. –more

 

 

 

Construction Factoring Sees Gains as Industry Falls

 

According to a report from The Ulster Bank Construction Purchasing Managers’ index shows the March construction sector in declining activity levels. The rate of decline in construction activity slowed over the month of March, while new business was broadly unchanged. Cost inflation accelerated markedly last month, mainly due to higher fuel prices.

The index saw activity rising to 46.7 in March from 45.8 in the previous month, and a figure that is above 50 means activity grew, while below 50 means activity fell. –more

 

The Importance of Due Diligence with Commercial Factoring 

Most commercial factors will ask prospects to provide financial statements as part of their application package and due diligence process. Some will make an exception for smaller companies or will ask for bank statements in lieu of financial statements. But all in all, asking for financial statements is fairly common in the commercial factoring industry. What is also fairly common is that many prospects usually object to providing this information. This creates an interesting tug of war between the commercial factor that wants to take on new customers while being careful and prospects that want to maximize their chances of financing by disclosing the least possible amount of information. more

 

NEWS

 

The Interface Financial Group’s Construction Factoring Services Aids Slow Industry

 

BETHESDA, MD–(Marketwire–April 16, 2012)According to Tin he Interface Financial Group (IFG), reports that The Ulster Bank Construction Purchasing Managers’ index shows the March construction sector in declining activity levels. The rate of decline in construction activity slowed over the month of March, while new business was broadly unchanged. Cost inflation accelerated markedly last month, mainly due to higher fuel prices. IFG believes that this news reinforces the need for small businesses to engage construction factoring services to survive and grow. –more

 

 

 

 

 

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Copyright 2011. The Interface Financial Group, Inc. (IFG) All Rights Reserved. For more information email: info@interfacefinancial.com  www.interfacefiancial.com    

 

 

 

 

 

 

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