There are many reasons to choose IFG factoring for your business when it's in need of immediate cash.
These include: fast application process and access to funding; flexible advance rates; no
long term contracts or commitments; no hidden fees, no application or wire transfer fees;
and no middle-men as you deal directly with IFG senior partners.
Compared to the application process at a traditional bank, the application process for factoring
is quite streamlined and approval can be done very quickly. However, the business requesting factoring services should have current financial statements on hand
as these are necessary for your business to be evaluated and approved.
In simple terms, factoring is a financial transaction where a business sells its invoices to a third party (the factoring company) at a discount in exchange for immediate cash. The invoiced party in turn pays the factoring company the face value of the invoice. Some companies, like IFG Network provide single invoice factoring services, also known as spot factoring,
where as few as one invoice may be factored.
Invoice discounting provides short term working capital to small and medium businesses. Invoice discounting or factoring is an alternative to conventional financing for those companies that are too small or too young to be approved for bank loans or lines of credit yet need a cash infusion to fuel business development and growth.
IFG is one of the few factoring companies that offers construction factoring services. When contractors face pressure due to the seasonal nature of the construction industry and the ongoing need to pay labor and related job costs in short order, IFG factoring can be a great way to meet construction projects deadlines.
It is actually very rare for spot factoring clients to fund a single invoice and be done. The high repeat rate of IFG Network's spot factoring clients speaks well of the service and quality of those services, that IFG Network supplies. One of the best liked features of IFG factoring services is the speed at which invoices get funded.