The debtor finance sector achieved modest growth in the year to June, after a couple of flat years.The Institute of Factors and Discounters reported yesterday that combined turnover in the factoring and discounting markets was A$62.4 billion - up three per cent on the previous year.The June quarter was particularly strong, with turnover reaching $15.7 billion. Wholesalers and manufacturers were the biggest users of debtor finance during the quarter.The industry has not yet recovered from the slump it suffered after the financial crisis. Turnover climbed from around $15 billion in 2001/02 to a peak of around $65 billion in 2008/09, then fell to around $60 billion in 2009/10 and remained at a similar level in 2010/11.Discounting, where the seller of the trade debt retains the accounting and debt collection functions, remains the dominant from of debtor finance. Discounting accounted for $57.2 billion of 2011/12 turnover.Factoring (where the finance company takes over the accounting and debt collection) accounted for $5.2 billion of turnover.While turnover picked up, the number of businesses using debtor finance fell from 4980 in June last year to 4605 in the June quarter this year.