The Interface Financial Group Notes Construction Factoring to Benefit from Job Growth
Construction employers added 1,000 jobs in August, according to of recent federal data released by the Associated General Contractors of America (AGC.)
BETHESDA, MD– (Sept. 17, 2012)–According to The Interface Financial Group (IFG), North America’s largest alternative funding source for small to medium-sized enterprises, construction factoring should benefit since construction employers added 1,000 jobs in August, according to of recent federal data released by the Associated General Contractors of America (AGC.)
Additionally, the construction industry’s unemployment rate fell to 11.3 percent. According to an analysis, the industry’s unemployment declines have happened as a result of the construction industry decline, and as has continued to shrink, since August 2011, more than 214,000 workers have left the industry.
IFG President and Chief Executive Officer George Shapiro said, “Due to the housing sector, we are seeing a small uptake in construction employment, which means construction industry is heading in the right direction, but by no means recovered. This is why The Interface Financial Group’s construction factoring is a much needed strategy to keep the industry on track.”
During the first half of the year 2012, according to the U.S. Census Bureau of the Department of Commerce, construction spending was at about 387.1 billion, up 1.5 percent for the same period in 2011.
The Interface Financial Group’s construction factoring services provide contractors with an innovative cash flow solution that will complement the construction sector as it continues overall economic recovery in years to come. Invoice factoring is the funding choice for many small business seeking growth and expansion financing.
In addition to being one of the only factoring companies in the industry to offer Construction Factoring, IFG’s other private label solutions include: Export Factoring, providing services for companies who export from the United States and Canada; P.O. Funding to finance purchase orders when a company receives a purchase order and needs to purchase supplies to fulfill the order; and Inventory Financing, a solution promoting a company’s growth by funding them when they must expand and purchase inventory.
The company does not expect to buy 100 percent of a company’s receivables and professional rates are competitive. The program allows choices of invoices to be factored, enabling customers to retain most of their money, to spend the minimum fees, plus guarantee adequate cash flow.
About The Interface Financial Group (http://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 services (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 services 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.
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