1300 957 900
INVOICE FACTORING
Obtaining loans from banks and other traditional financial institutions can be a long, painful and often frustrating process. Luckily, business owners and managers have spot factoring - a highly effective alternative to traditional financing.

Invoice Factoring

A brief history of invoice factoring and its uses in today's business environment

Factoring date back over 4000 years to Mesopotamia, the 'cradle of civilization.' Besides developing writing, business codes and government regulations, the Mesopotamians introduced factoring to the business world. Today, factors exist in all shapes and sizes and service a wide range of business-to-business industry segments. Ironically, factoring is not being taught in business college, seldom seen in business plans, and one of the best kept secrets in the business community. To those in the know, factoring has often meant the difference between growth and failure.

Simply put, factoring is the process of purchasing commercial accounts receivable (invoices) from a business at a discount. In other words, the factoring company buys your invoices for less than face value and gets paid in full by your customers. The difference between the discounted rate and the face value is the factor's profit or incentive for buying your invoice .

With financing sources for small business owners becoming tighter and more restricted, invoice factoring becomes an ever more viable option for business financing. Whether it is to fuel an expansion, buy new equipment, raise immediate working capital or ease cash flow problems, factoring can often offer a practical and instant solution. If you sell products or services to businesses, if your customers have good credit, and if you have current orders that you are ready to ship, invoice factoring might be of great benefit to you and your company.

If you are interested in invoice factoring for your company, or would just like more information on whether invoicefactoring is right for your business, click her to apply online; an IFG consultant will be in touch with you shortly. Alternatively, please ring IFG on 1 300 957 900.

Benefits of Spot Factoring Include:

  • Fast access to cash – first time applicants can receive cash in 24-48 hours; previously approved clients can receive cash in less than 6 hours.
  • Flexible – no minimums or maximums;
    no long-term contracts or obligations;
    no need to finance your entire receivables portfolio...use us when you need us.
  • Fee free – no upfront application fees, no due diligence fees, no credit line fees (spot factoring is not a loan).
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Testimonials:

"I have done extensive research on debtor finance over the past 12 months, and have been working with IFG for the past few months and have been really pleased…one great thing (and hard to find) about IFG is their flexibility, you can factor some of your invoices or none of them each month, you decide.   I would highly recommend both debtor factoring and IFG as a way to boost cashflow and enable business growth."

Sally Edwards
Origin HR Victoria & SA
(Torquay, VIC)