At Select Factoring we try to keep on top of all news related to Factoring and Invoice Discounting and today is no different, the only difference is we’re looking at ways that Finance Brokers can diversify their income.
IFG have decided to announce that their Financial Brokers will not only be providing their normal services but now be providing alternative funding to their clients and small businesses.
The slowing of the mortgage market has put financial brokers into a tight position, but now they can gain more income by providing other services.
Financial Brokers are not employed directly by companies so by providing a bigger range of finance options they can improve their salary.
Small businesses across the globe can benefit from factoring and invoice discounting as well as the broker so it really is a win win situations.
Funding is readily available through the capital tied up in invoices which are to be sent to clients. Money can be in your business account within 24 hours if your invoices and clients are credit worthy.
It is such a flexible option that Factoring and invoice discounting has grown so much especially in Australia and the USA, it is a common place way of gaining funding and has become more popular than heading to the bank for a business loan, because of the incredibly flexibility of these funding solutions and the fact that they are very cost-effective makes Factoring a popular option.
So for those businesses who need funding and for those brokers who are having a hard time raising some cash, consider factoring which will benefit all parties.