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Factoring Finance market continues to grow
March 2, 2015
The latest statistics for debtor finance, discounting, and factoring finance in the December 2014 quarter released by the Debtor & Invoice Finance Association (DIFA) was $17.2 billion, which is an increase of 10.7% in comparison to the September 2014 quarter.
NSW & ACT, followed by VIC, QLD, & WA were states with the highest invoice factoring turnover, in the December 2014 quarter.
Industries with the highest percentage of factoring turnover includes Labour Hire making up 29%, Wholesale Trade 22%, Manufacturing 13% and Transport & Storage 13%.
As SMEs continue to experience challenging business environments, factoring finance to free up working capital provides an alternative and immediate source of business cash flow to meet sales demand and operating expenses.
By adopting invoice factoring companies can get cash for their unpaid invoices, in as quick as 24 hours.
The full DIFA Statistical Update- December Quarter 2014 is available at:
http://difa.asn.au/wp-content/uploads/2015/03/DIFA-Statistical-Update-Dec14.pdf
Key Factors fast and flexible factoring requires with no lock-in or long-term contracts, no minimum volume or usage and no quarterly audits.
Getting your invoices paid is as easy as 1 2 3
1) Simply invoice your clients and send us a copy.
2) Up to 80% on the invoice face value is made available in as quick as 24 hours.
3) The remainder 20% is provided when your customer pays.
Call us now on 1300 884 100 to find out more