Evansville, IN (PRWEB) October 29, 2013
Family friends Todd Mazzier, now in his early 40s, and Sam Garau, now in his mid-30s, were at a crossroads in their respective careers and decided to start a business together. The pair researched a variety of business concepts and ultimately chose to start a professional service business that helps small businesses turn receivables into growth and profit. Ignited by Garau’s experience in business banking and being forced to turn down loans, they opened an IFG franchise to provide working capital to growing small businesses that may not qualify for traditional funding sources.
“Todd came across IFG and started reading about it, thought it was an interesting opportunity and presented it to me because of my banking background,” said Garau of starting their business. “I was frustrated at the bank because we were turning down commercial loans that I thought we shouldn’t have, so IFG really intrigued me, and I thought it was a nice niche market that we could fill.”
The greater Evansville market is unique in a sense because big players like Bank of America and Chase do not have a presence in the area. The banks in the area are mainly regional and community-based banks, and they tend to have more conservative lending policies. Garau explains, “When I came across some of these commercial lending opportunities and when we couldn’t help them, I tried to find other banks for the clients, and they couldn’t help either. So, where all these banks essentially were turning these clients away, I thought that we (IFG) could possibly help.”
New businesses need to be prepared to have cash available to meet their financial obligations – rent, salaries and suppliers – before they see any money from customers. This leaves too many good companies oversold and underfunded, expected to extend credit but unable to receive credit from banks or other lending institutions. Small businesses encounter these scenarios every day, but they may not know about the IFG solution. IFG provides working capital by allowing companies to leverage their customer’s good credit.
Starting the business
Mazzier and Garau are making a bold move for professionals in their 30s. To purchase the franchise and establish the business, they had to put up 401Ks, savings, borrow from family or establish lines of credit. But they are confident their venture will succeed because of IFG’s more than 40 years of proven success providing small businesses invoice discounting solutions with the unique, user-friendly “use-it-as-you-need-it” financing alternative.
“They lay out realistic expectations … they have someone that works with you during the ramp up period,” Garau says of the path to success. “They talk to you on a weekly basis, and I can tell you that everything they told us has essentially been on the money … they (IFG) do a very good job with their coaching, preparing you for the time it will take to really get your business off the ground, and they do a good job setting that expectation before you even sign with the company.”
The duo is committed to growing their business. In their pursuit of helping small businesses grow, Mazzier and Garau are actively building a referral network of bankers and lenders in Evansville and beyond. Although it takes some lead time, they are continually meeting and talking with referral sources to reinforce the benefit of the IFG product and how it can help their clients who are looking for solutions.
“In the next 5 years we have a number we want to get to as far as funding capacity and we want to be able to fund to that level,” says Garau of their future plans. “For our initial year, we were thinking if we (were funding) $200,000, we would be happy. Five years from now we would like to get to $2 million; can we do that, I don’t know, but that’s the goal.”
About The Interface Financial Group
The Interface Financial Group (IFG) is North America’s largest alternative funding source for small business. IFG provides short-term working capital funding in the form of a unique Invoice Discounting service. The company serves clients in the manufacturing, service, and construction sectors. Interface operates from a base of 140+ franchise offices in the United States, Canada, the UK, the Republic of Ireland, Singapore, Australia, and New Zealand. IFG’s innovative Invoice Discounting service is a fast and easy way to turn receivables into cash. For more information, visit http://www.interfacefinancial.com.