Local company steps in to support businesses left high and dry by the banks.
Catalyst IFG is offering a new financial product that aims to fill the financial vacuum left by the banks in the wake of the credit crunch. It’s invoice discounting Jim, but not as we know it!
Unlike the traditional debt-factoring model, IFG buys individual invoices or groups of invoices in one-off transactions. This provides an exceptionally fast, flexible and cost effective way of bringing money into cash-starved businesses. The service is fast and clients only use and pay for what they actually need. Because IFG buys individual invoices (rather than the whole book of debtors) its main concern is that those invoices will get paid. This means it can look at propositions which banks would find much too risky. (more…)
