Factoring company Interstate Capital announced preliminary results for the first six months of its current fiscal year, ended December 31, 2012.
Interstate’s president, Tony Furman, reported total factoring volume (receivables purchased) exceeded $300 million for the six-month period ended December 31, 2012, representing an 18% year-over-year gain.
Gross fee income increased 17% during the same period. “In its 20-year history, Interstate Capital had never purchased more than a quarter billion dollars of receivables in any six-month period. I’m extremely proud of our sales and marketing team as well as our operations staff, both of which get credit for Interstate’s extraordinary results,” Furman commented.