by Courtney ThomasJanuary 27, 2012
Liquid Capital grew by 45 percent in the U.S. from 2010 to 2011
(Toronto, ON)---2011 was a record-setting year for Liquid Capital, which saw a dramatic increase in factoring volume in both its U.S. and Canadian markets. The only full-service factoring company in the franchising industry, Liquid Capital grew by 45 percent in the U.S. from 2010 to 2011, and saw an increase of 20 percent in Canada, following a trend that started in 2009 with a 30 percent year-to-year increase in volume.
The spike in factoring volume can be attributed to businesses increasingly being turned down for bank loans and turning to factoring as an alternative to traditional loans. Factoring provides businesses across an array of industries with immediate financing secured by credit-worthy account receivables.
Liquid Capital’s clients range from both small, growth-oriented businesses to established mid-sized companies that often need options for accessing additional capital when money is tied up in accounts receivable. Liquid Capital serves clients in many different industries, with 50 percent of their total clientele in the oil and gas, transportation and staffing industries.
The increased demand for Liquid Capital’s factoring services mirrors a worldwide trend that shows factoring volume is up 62 percent over the last five years.
“The variety of industries we serve is proof that tightened bank lending restrictions are affecting every type and size of business,” said Brian Birnbaum, founder and director of Liquid Capital. “Statistics show that nine out of ten businesses that apply for a bank loan are getting denied—and that’s why they’re turning to us.”
Adding even more momentum to Liquid Capital’s stellar year, the Franchise Research Institute announced this month that Liquid Capital was named on its list of top 25 “World-Class Franchises for 2012.” For inclusion on the exclusive list, the Franchise Research Institute ranks franchises by surveying current franchisees and asking them to rate their experience as franchise owners. The companies that make the list must receive high scores in categories such as opening support, communication between franchisor and franchisees, initial and ongoing training provided to franchisees, product/service quality, and a dedication to overall company excellence.
“The key to the success of our business is our focus on the prosperity of our franchisees, which we ensure by providing ongoing support,” Birnbaum said. “We’re very hands-on, and are there to assist each franchisee with every aspect of their underwriting. Since factoring isn’t a concept you can train someone on in just a few days, it’s the ongoing assistance we provide that ensures their success.”
For six years running, Liquid Capital has received more than an 85 percent approval rate from its franchisees.
News Source: http://www.free-press-release.com/news-increased-demand-for-factoring-services-drives-record-setting-year-for-liquid-capital-1327696022.html
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