Interview with David Banfield

David Banfield on IFG's unique business concept

What type of service does IFG offer?

AIFG delivers a white-collar financial service for business clients. Working only in the B2B marketplace, franchisees accelerate cash flow by buying current, quality invoices at a discount.

They are not engaged in the lending business—they buy invoices—so every transaction is a buy-sell agreement. This means that franchisees don’t need to be involved with any specific lender regulations or license requirements.

How does IFG support its franchisees?

AIFG engages with franchisees in every transaction they undertake. They never have to work on their own because all transactions are completed by a syndicate made up of the franchisee and franchisor working together. This unusual concept is probably unique to the IFG brand.

What sets IFG apart as a franchise investment?

The fact that we, the franchisor, work with franchisees on every transaction is something different in itself. IFG also gives the franchisee the opportunity to work with other people’s money—OPM—to create a higher-than-average return on their working capital. This is achieved through an internal capital-leverage plan. This plan is available to all franchisees as part of their franchise benefits at no additional cost or obligation.

Do you need a specific background to run this business?

Yes. You need a solid business background, one that aligns with IFG’s model that franchisees are mature individuals. We are not concerned about specific backgrounds but are more concerned with the fact that franchisees have gathered an in-depth knowledge of business and commerce over the years. A common myth is that IFG will consider only bankers and accountants as franchisees. Nothing could be further from the truth.

How can franchisees scale the business?

IFG is a capital-driven business—the more capital you handle as a franchisee, the greater your income. So scalability is driven by capital. As a franchisor, we do not dictate to our franchisees how much working capital to employ. That’s open-ended, and they can increase or decrease the amount over time in order to meet their personal goals and budgets, which is possibly another unique feature of IFG franchises.

David Banfield is president of The Interface Financial Group (IFG). The company provides early payment services for businesses as they need it. Here, he shares the merits of the IFG brand and what it takes to be a successful franchisee. For more information, visit www.interfacefinancial.com/franchise or email Banfield at ifg@interfacefinancial.com.