Invoice Financing Tool Circles The Globe

Two financial institutions on opposite sides of the globe are partnering up to launch a new invoice financing service. An announcement published Monday (Aug. 17) revealed that Australia-based startup Bigstone Capital, which provides small business loans, and U.S.-based alternative lending firm The Interface Financial Group (IFG) are collaborating on the new venture aimed at small business borrowers.

According to the companies, the solution will first be available to Australian businesses and soon spread to SMEs in New Zealand. In addition to invoice financing, Bigstone and IFG will provide businesses with connections to advisors.

The companies added that they will offer invoice financing opportunities to institutional investors next month. “Diversification, flexibility, liquidity and returns are all catered for in the Bigstone and IFG investors platforms,” the companies said in their announcement. “Both platforms will enable investors to automatically diversify their investments across a portfolio of funding products, tenures and other criteria, or select individual transactions to invest in.”

In a statement, Bigstone CEO Boyd Pederson called the partnership “just the beginning,” adding that the companies are collaborating on other ventures in the alternative lending space.

“IFG invented the product that bankers call spot-factoring,” he said. “This innovative product provides flexible funding of single or multiple invoices. A business owner has complete flexibility to decide how much to use and when to use the product.”

According to Pederson, the service is an on-demand and no-fee tool for business borrower applicants. The solution also does not restrict how much a company can borrow.

IFG CEO and Chairman George Shapiro added that the new invoice financing tool was developed with a foundation of “strict credit underwriting, security standards and industry-specific processes that IFG has honed over the past 40-plus years.”

IFG has been operating across the U.S., Canada and the U.K. since last year, but the businesses did not indicate whether their new financing product will spread to these locations in the future.

[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][/vc_column][/vc_row][vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][vc_single_image image=”150712″ alignment=”center” style=”vc_box_shadow_3d” border_color=”grey” img_link_large=”” img_link_target=”_blank” css_animation=”left-to-right” img_size=”full” link=”http://www.pymnts.com/tag/b2b-payments/”][vc_column_text]

To check out what else is HOT in B2B, click here.

[/vc_column_text][vc_separator color=”grey” align=”align_center” style=”” border_width=”” el_width=””][/vc_column][/vc_row]