Transportation Factoring

You may have heard ads on the radio offering Truck Factoring or Freight Bill Factoring. It’s easy to think it has something to do with financing the truck itself, but in reality it is surprisingly similar to traditional invoice factoring. Read more

Factoring Companies USA

Choosing a quality company that buys invoices can be as challenging as trying to guess the number of marbles in a large jar. It can also be tough to separate the good from the bad – this is the very reason we created the Factoring Directory. Read more

Cash Flow Investor Spotlight: Monterey’s Consumer Finance Program

The cash flow business depends on Monterey Financial for the purchase of retail installment contracts.

Factoring Investor (FI) caught up with Gina Frame, Assistant Manager Sales &  Marketing, to fill us in on how Monterey is helping businesses and cash flow brokers turn receivables into cash. Read more

Comparison of Factoring Fees and Charges

The costs for invoice factoring are made up of discount fees and administrative charges. But watch out!

It’s a competitive business and some factoring companies advertise super low discount rates to lure in accounts receivable funding clients and hit them with hidden fees later.

Want to know the true factoring charges before signing on the dotted line? Use this chart for an accurate factoring fees comparison. Read more

How to Finance a Demolition Company With Construction Factoring

Finding business financing for any small or medium sized company in the construction industry has always been a challenge. Read more

Factoring Training for Small Business Funding

Working with small businesses receivables is a specialized segment of the factoring industry.  It’s also lucrative!

Less competition from the large factoring companies can equal more opportunity.

Just ask Jeff Callender, founder of Dash Point Financial Services.  He went from start-up cash flow broker to small business factoring funder in just a few short years.

Jeff generously shares his tips for success gained from real life experience.  In addition to his acclaimed Small Factors Book series, he provides workshop instruction at factoring trainings and association meetings.

Here’s a look at an upcoming workshop designed especially for small business factoring.

International Factoring Association Presents:

Small Factors Workshop

Thursday & Friday, October 14th & 15th, 2010

Rio All-Suite Hotel & Casino Las Vegas, NV

Small Factors have unique needs. This workshop is designed to give small factors a forum to discuss and learn. Emphasis will be on round table discussion, networking and education.

We will be discussing specific topics that are of concern to Small Factors. Some of the topics that we will concentrate on are:

* Locating working capital

* New and innovative technologies

* Risk mitigation in the present economy

* Legal issues

* Marketing

* Making your business mobile

* New products to offer

* Outsourcing

* Working with attorneys

* New due dilligence techniques

* Case Studies

The second component of our meeting will concentrate on networking. We will begin on Wednesday evening with a Welcome Reception. Breakfast and lunches will be held together to give you a chance to network with the other attendees. Dinner on Thursday evening will also be included.

Moderators: Jeff Callender of Dash Point Financial and Ryan Jaskiewicz of K & L Finance Company with legal council provided by David Jencks, Esq.

The workshop cost is $645 for IFA Members (or $695 for Non-Members) with registration available online at factoring.org

Source: International Factoring Association

We can’t promise you’ll walk away from the Vegas casinos with money but we do know you’ll take  home valuable factoring training!  If you aren’t able to attend the workshop you might want to check out these affordable eBooks authored by Jeff Callender:

How I Run My One Person Factoring Business – $10.95

Marketing Tools (also included in the Small Factor Series) – $13.95

Small Factor Series – 6 Essential eBooks for Factors and Consultants – $95.00

When Do Factoring Companies Decline Invoice Financing?

Factoring companies have a well-earned reputation for providing cash flow solutions when banks say “No” to business financing. But there are times when even they turn down a request for factoring help.

Improve your chances for approval by keeping four qualifiers in mind when courting receivable financing: Read more

Staffing Factoring Helps Oil Spill Cleanup Jobs

Thousands of workers hit the Gulf Coast beaches to help with the worst oil spill disaster in history. Temporary workers fill many oil spill cleanup jobs, creating a surge of business for staffing companies.

As a staffing company hires, trains, and pays workers they create invoices in need of payment. That can mean more cash going out than coming in, creating a cash flow crunch during a credit crisis.

Read more

Could You Tell a Client They Don’t Need Factoring Help?

I witnessed an odd exchange of dialogue the other day on the Internet. It would have been humorous except neither of the cash flow consultants came to the right decision – over a long period of opportunity.

The “Dilemma”

The exchange started with a simple post from a factoring broker that had a “dilemma” with a new soon-to-be client.

In going over the client’s information, the consultant discovered that the client really did not need factoring help. He had two other alternatives that were clearly better choices for the client , with no additional risk.

The consultant was concerned how he was going to keep is his client focused on factoring so he could get the deal. “Any feedback would be helpful.”

Enter the “Expert”

The post was almost immediately replied to by a so-called “industry expert” that had been involved with similar negotiations (all going his way of course).

His advice bordered between “bait and switch” and “smoke and mirrors.”

Seriously?

In the ongoing posts back and forth neither of them ever considered actually telling the client that there were better options available.

What? Risk losing the deal in exchange for taking the professional higher ground?

Yes, and here is why…

1. The client is going to find out anyway. When they do, you are going to look like either an idiot or a thief. Ok, maybe those sound a bit harsh, but you will probably be viewed somewhere in the not so favorable middle.

2. They have friends to send you. Your “missed opportunity” with this client could come back ten-fold if you actually help your client. Trust me, he is going to tell every one of his colleagues about you. You saved the day, even if it didn’t involve invoice factoring. Who do you think his friends are going to call?

3. They have friends to steer away from you. Same as the last point, but in a bad turn of reversal. Remember, he will find out what happened, and will be sure to tell his friends if he thinks you purposely didn’t help him in order to make a few bucks.

Look, the rule of thumb is simple…

Always do the right thing.

Help your client in any way, shape, or form that you can. If it involves factoring receivables and you get a commission on the deal – that’s great!

If it doesn’t, but you are still able to help, just consider that you put some future business on lay away – maybe it will show up just in time for the holidays!

Directory of Factoring Companies and Service Providers – All New 2010 Edition

Sometimes it is not only what you know, but who you know.

Knowing the right contacts not only makes things easier, it can make you more money. Read more

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