According to The Interface Financial Group (IFG), today the Thomson Reuters/PayNet Small Business Lending Index came in at 98.2 in March, down from 98.3 in February. This report shows that lending was virtually unchanged in March for the second month and that small business growth is slowing. IFG believes that this news reinforces the need for small businesses to deploy factoring services in order to survive and grow.

This analysis from PayNet, which is a financial research firm, shows that lending is up 14 percent from a year ago. There are other business indicators such as the steady unemployment rate holding steady at a three year low of 8.3 percent, which suggest that the U.S. economy is now a phase of self-sustaining growth. IFG’s Chairman and Chief Executive Officer George Shapiro said, “Overall concerns are that this may lead to slower growth in the economy. The recently announced Jumpstart Our Business Startups (JOBS) Act, which is a package of six bills that are intended to create more access to capital for entrepreneurs and small business owners, is not going to rescue many of our country’s small businesses, as they are simply too small and their revenue is not large enough for the act to have much of any impact, said George Shapiro, “However, as many small businesses are finding out, factoring is one solution that is a growing source of alternative funding.” IFG offers invoice factoring solutions that will enable an SME to sell its accounts receivable invoices to a third party at a discount in exchange for immediate cash within less than 24 hours.

Unlike a loan, factoring services are the purchase of financial assets, or receivables accounts. There are no upfront fees and no co-signers required. IFG has no minimum sales volume requirement, and professional fees are competitive because each client’s circumstances vary, which may have an impact on the fees charged. Private label solutions include export factoring, providing factoring 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; Construction Factoring; and Inventory Financing, a solution promoting a company’s growth by funding them when they must expand and purchase inventory.

IFG 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. Thomson Reuters/PayNet Small Business Lending Index PayNet bases its index on new commercial loans and leases granted to small businesses by the lenders in its database. The company says applications for credit by small businesses are at about the same level as they were at the end of the recession in June 2009 — a sign that many small businesses remain hesitant to borrow even though interest rates are still extremely low. Many companies want to be sure the economy and their sales are growing solidly before they take on debt.

About The Interface Financial Group ( 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 (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.