The alternative funding solutions will help SMEs to explore the cash flow benefits and finance continued business, and continue growth at a steady pace in 2012.
IFG chairman and CEO George Shapiro said the invoice factoring as a funding strategy is ideal to cater short-term cash needs during periods in which the small business needs excess cash flow.
The offering also includes spot factoring solutions that help an SME to sell its accounts receivable invoices to a third party within less than 24 hours at a discount in exchange for immediate cash.
The factoring services do not require upfront fees and co-signers and are the purchase of financial assets, or receivables accounts unlike a loan.
Due to economic crisis, the US banks have severed the credit lines of SME customers demanding that they pay off their balances rather than continue making monthly payments in order to raise capital and cut risks.
