The Interface Financial Group® Invoice Discounting process is very simple — IFG purchases the invoices of a small business doing business with another business (B2B) at a discount. Put another way, the invoices IFG purchases become “cash-on-delivery” sales for our clients. (This is not factoring in the 21st Century meaning of the term. By definition, yes, we factor receivables). The client's customer agrees to pay IFG based on the terms of the invoice. With a new client, there is a due diligence period of approximately five business days to collect information and to check the credit of their customer.
What does our client get? Increased cash flow to support and grow their business operations. Many times a client can offset the services fees of invoice discounting by placing larger orders with suppliers, paying suppliers to avoid late charges, meet payroll or even pay taxes.
Wow, Jim. You and Connie have a much-needed business model for the small business folks that need to get new clients on-board, but risk-timid of net-30/net-60 diminishing cash-flow...not to mention unpaid invoices! I'm grateful that my friend, David W. Grigsby (your client), today referred me to your services. http://www.grigsbyconsultingllc.com/
ReplyDeleteI'm shocked that banks would never touch a need like this because it's "too small", but no other business (to my knowledge) offers similar services.
Kudos!
Mark Abraham
www.CarmelApps.com
Mark, I almost overlooked your comments. Thanks for posting them. We see too that you signed up to receive our email newsletter and we hope you find the information of value to you. Should you ever need to refer a business to us we would be delighted to speak with them about their funding needs in order to meet their business growth demands. Thanks again and best of success to you in 2009!
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