Bigstone & IFG Launch Pacific Region JV to provide invoice finance services to small business
BIGSTONE, a start-up Australian loan market dedicated to small business, and The Interface Financial Group (IFG), one of the North America’s largest alternative finance sources for small businesses operating in nine countries, have signed a deal to deliver a much needed cost effective and flexible invoice finance product funded by a peer-to-peer market platform.
The collaboration enables a full range offering of funding solutions to be offered through advisors and direct to small businesses. Invoice finance funding is immediately available to Australian small businesses, and will quickly roll out to New Zealand and then beyond.
Invoice finance investments will be available to institutional investors in September. Diversification, flexibility, liquidity and returns are all catered for in the BIGSTONE and IFG investor platforms. 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.
Boyd Pederson, CEO of Bigstone Capital, noted, “The team at Bigstone is very excited to be partnering with IFG to help small business owners and investors achieve their goals. This is just the beginning as we are building a range of credit products, supported by proprietary credit methods, models, data and most importantly, a market where a wide range of investors can participate in this new asset class.”
“IFG invented the product that bankers call spot-factoring. 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. We’re an on-demand, pay-as-you-go, invoice funding partner, with no application fees, no restrictions on invoice amounts, and no termination costs.”
George Shapiro, CEO and Chairman of The Interface Financial Group (IFG), said: “For investors, the product provides very good liquidity, and strong returns. The product is protected by the strict credit underwriting, security standards and industry specific processes that IFG has honed over the past 40+ years.”
“IFG has launched its invoice finance marketplace platform in US, Canada, and UK in 2014. Since its inception, the Company has funded billions of dollars, supporting thousands of businesses in 9 countries around the world to address cash flow funding.”
BIGSTONE aims to create a better solution for small businesses funding needs. We help them gain access to finance for their projects and future business growth. Bigstone Capital is run by experienced professionals with deep understanding of how to build high quality and safe lending businesses with robust and scalable processes. Appropriate security is taken to reduce the risk of capital losses for investors and traditional credit assessment techniques are enhanced with new data-rich credit algorithms and methods which until now have not been available to Australians.
Click Here to learn more about The Interface Financial Group.