The Interface Financial Group Sees increase in Need for Construction Factoring as Industry Recovers

–Construction factoring aids builders recovering from ailing construction market–

BETHESDA, MD–(Marketwire–July 21, 2011) – The Interface Financial Group (IFG), North America’s largest alternative funding source for small businesses, reports that even though the U.S. housing construction market rose to 14.6 percent in June to an annual rate of 629,000, the first increase since March, many builders and contractors are still suffering, and there’s an increase in the need for construction factoring services.

According to the Commerce Department, the housing construction market may be on the way to recovery as it rose to its highest level since January with most of this growth in the multifamily arena. Housing starts in the second quarter fell at an annual rate of 4.5 percent to 576,000, versus 582,000 during the first quarter. Historically, the level of total housing starts is about 72 percent below the peak registered in January 2006 which was 2.273 million units.

IFG’s Chief Operating Officer Sabeen Ahmed said, “Construction factoring services provides contractors with cash flow during tough economic times. We can fund almost any construction project, and we work with both contractors and subcontractors who need cash to pay suppliers. IFG has been doing construction factoring financing for over 40 years.”

The Interface Financial Group is one of the only factoring companies that offers construction factoring and has for more than 40 years, and they can do just about any construction project.

Factoring services is the purchase of financial assets, or receivables accounts by a factoring company which differs from traditional bank loans. A bank loan involves two parties, while factoring involves three parties. Banks base their decisions on a company’s credit worthiness, whereas factoring is based on the value of the company’s receivables. Spot Invoice factoring requires no minimums or maximums, and no long-term commitments.

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, 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 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.

Media Contacts:
Kristin Gabriel, MarCom New Media
T: 323.650.2838
E: Kgabriel@marcomnewmedia.com
Headquarters: The Interface Financial Group
7910 Woodmont Avenue, Suite 1430
Bethesda, MD 20154
T: Toll Free: USA — 877.210.9748;
T: Toll Free: Canada — 877.340.6893

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One Response to The Interface Financial Group Sees increase in Need for Construction Factoring as Industry Recovers

  1. Pingback: Factoring News – July | IFG Network Press Room

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