2008 has been a year in Turmoil for the Small Business Sector

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David Banfield, President of The Interface Financial Group, reports from their U.S. headquarters on a year in turmoil for the small business sector.

Speaking to another group on franchisees completing their initial training with Interface David Banfield, President of The Interface Financial Group, explained that 2008 has been a year in turmoil for many, but not for The Interface Financial Group.

"Back in January," he says, "we were preparing for another year of steady growth. We had plans to open several new offices across the country and continue to deliver our flagship 'invoice discounting' product to small businesses. By the time the 'credit crunch' had taken hold of the nation we had already opened 10 new offices. Because of the credit situation it was assumed that we might plateau out at that level for the year."

Nothing could have been further from the truth because the credit problems of major funders did not adversely affect Interface. "Our business has continued on an upward spiral. By year end Interface will have established another 22 new U.S. locations in addition to strengthening their position in the New Zealand marketplace where they already hold a dominant position in the small business funding marketplace," continued Banfield.

Asked about plans for 2009 he responded that "It seems very likely the present restrictive credit situation, especially for small business, will continue. This will help to fuel more Interface growth. Interface is definitely open for business and in many instances we are working with our relationship partners in the banking community to handle funding situations for their customers during a time when their restrictions do not allow them to focus on growing their small business portfolios."

In summary, Banfield says Interface is open to service small business funding needs and their unique franchise base of offices will continue to grow in 2009.


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