The figures revealed that debtor finance turnover for the quarter totalled $15.8 billion – an increase of 1.8 per cent on the corresponding quarter last year.
Furthermore, debtor finance provided to Australian businesses totalled $64.2 billion in the 12 months to 30 September 2015 – a 3.4 per cent increase on the previous 12 months.
Factoring continues to perform strongly post-GFC, recording a 14.9 per cent increase in the September quarter on the corresponding quarter last year.
The figures also revealed that the biggest users of debtor finance in the quarter were the wholesale trade sector (38 per cent of total receivables) and manufacturing (20 per cent).
DIFA chairman Wayne Thomason said the figures are an indication that the debtor finance industry is recovering well following a drop in values brought about by the GFC.
“The debtor finance industry is growing steadily and performing well when compared to overall business lending,” he said.
“Factoring has been particularly strong post-GFC, highlighting the robustness of this form of finance and its accessibility in all economic environments.
“The latest figures point to a solid finish to the calendar year, with the December quarter being the busiest time of year for our members as businesses turn to funding solutions that assist with freeing cash flow over the Christmas and New Year period.”
[Related: Invoice financier achieves rapid growth]