Don DAmbrosio

Asking the Right Factoring Questions

May 13, 2013 By Don DAmbrosio Leave a Comment

Everybody has an opinion as to how factoring works and the best method to fund deals. Many of the articles I’ve written in the past try to assist the broker and factor from both the sales and operational side of the equation. Is there a magic formula to use to get more deals closed? We all know there is no secret that will land you more deals, but positioning yourself, asking the right questions and using common sense will sure go a long way. Unlike a traditional bank loan which requires collateral as security, factoring typically involves advancing funds through the purchase of an invoice. The invoice is an instrument that represents a promise from one party to pay another for delivered goods or services. No risk at all associated … [Read more...]

Filed Under: From the Experts Tagged With: factoring broker training, Factoring FAQ, how factoring works, oxygen funding

Common Sense Advice for Factoring Brokers

April 15, 2013 By Don DAmbrosio 4 Comments

One of the reasons why I enjoy working in the factoring industry is that almost every day presents a challenge when it comes to looking at prospects and finding new ways to close a deal. As great as that sounds we all know too well that most prospects do not make it past the application review to the due diligence process. In many cases we find the applicant needs some other type of financing or they have some past derogatory issues that cannot be cured. … [Read more...]

Filed Under: Consultants Tagged With: Don DAmbrosio, factoring broker, factoring broker training, factoring industry, learn factoring business

Best of How To Start A Factoring Business

March 11, 2013 By Don DAmbrosio Leave a Comment

Over the past few years I’ve written several articles about starting your own factoring business. Much of the information referred to resources, capital, due diligence and general topics related to the asset based lending industry. To this day I am still amazed over the response we have received on this topic. Today alone I’ve received calls from Europe, Asia and the U.S. about factoring. Since the interest level on this topic has remained so high I felt that it would be a good idea to do a "Best of How To Start A Factoring Business” compiled from previous articles and questions we have received over the last few years. 1. Should I begin as a factoring agent or broker rather than starting a direct funding company? First, … [Read more...]

Filed Under: Consultants, Factoring 101 Tagged With: factoring agents, factoring brokers, Factoring Marketing, International factoring association, starting a factoring business

Friction In The Factoring Industry

February 11, 2013 By Don DAmbrosio Leave a Comment

Have you ever heard the old saying, “Be careful what you wish for or you might just get it”? It usually refers to the downside of a casually expressed desire. This phrase definitely holds true for anyone who has funded invoices in the factoring industry. We spend so much time on sales and marketing and then it finally happens – we land a new prospect and they complete our application. We hope the prospect will have prefect credit, stellar account debtors, strong financial statements and be free and clear of any liens or judgments. More importantly, we want the deal to glide through the … [Read more...]

Filed Under: From the Experts Tagged With: Don DAmbrosio, factoring industry, factoring training

Marketing Your Factoring Business? Avoid The Crush

January 21, 2013 By Don DAmbrosio 2 Comments

If you are a regular member of a gym or fitness club as they refer to it today, I always find January to be the most interesting month of the year to be a member. At the beginning of every year the place is so crowded that you usually have to wait in line to use the equipment. Then, within a few weeks the crush subsides and the facility is back to normal. I kind of look at business from the same point view. Just like at the gym, this time of year my mailbox is usually full of emails, blogs and pings from contacts wanting to reconnect to see how we can “align our strategies in a mutually beneficial relationship”. Sound familiar? I’m always amazed by the emails I receive from people who do not know what factoring is and what our … [Read more...]

Filed Under: Nuts and Bolts Tagged With: factoring business, Factoring Marketing

A Factoring Thank You For 2012

December 17, 2012 By Don DAmbrosio 1 Comment

Thank you speech bubble as sticker / label

What makes the factoring business enjoyable? Don D'Ambrosio shares his answer in this year end thank you. Wow, time flies and we are looking at closing out another year. Many articles this time of year tend to focus on reflection, comparing estimates to actual results and anticipating the New Year. This year I would like to take a slightly different approach. … [Read more...]

Filed Under: From the Experts Tagged With: factoring broker training, factoring business, factoring company, factoring notice of assignment, learn invoice factoring

How the Election Affects Your Factoring Business

November 12, 2012 By Don DAmbrosio 3 Comments

A look a how the business of factoring will be impacted by the election results and economic issues. The election is over and no matter what side of the political fence you reside, the people have spoken. President Obama returns for four more years with a divided congress consisting of Republicans controlling the House of Representatives while the Democrats retain their majority in the Senate. No matter who was victorious in these races, tough issues lie before our elected officials. The latest unemployment data released by the US Bureau of Labor Statistics remains close to 8% as of November 7, 2012. The fiscal cliff is looming which includes the expiration of specific tax cuts while at the same time spending cuts of over 1,000 … [Read more...]

Filed Under: Nuts and Bolts Tagged With: factoring business, learn invoice factoring, starting a factoring business

Routines Aren’t Always Good For Factoring

October 8, 2012 By Don DAmbrosio 2 Comments

In the factoring business routines are common, but are they always positive? Avoid complacency. Learn 3 key invoice factoring strategies to implement post funding. Whether at work or in our personal lives routines seem a part of our daily existence. We wake up at a certain hour, shop on a particular day and so on. In our daily workday we usually have a set of routines as well. We get to the office at … [Read more...]

Filed Under: From the Experts Tagged With: factoring business, learn invoice factoring

Understanding the Factoring Business

September 1, 2012 By Don DAmbrosio Leave a Comment

With so much information readily available at our fingertips it is really easy to take shortcuts when trying to learn about the factoring industry. Although the factoring business model is very straightforward, you still need to understand basics before you venture out into the world and meet with prospects. One of the downsides to the factoring industry is that much of it is … [Read more...]

Filed Under: From the Experts Tagged With: factoring business, factoring industry, How to become a factoring broker, starting a factoring business

Listen and Learn – Insights To The Factoring Industry

August 13, 2012 By Don DAmbrosio 1 Comment

After reading the title to this piece one would think that I have some great pearls of wisdom to dispense on one of the many facets about the factoring industry. Sorry, this isn’t going to be a tutorial on marketing your business or collecting the proper documents to close a deal. We’ll save those for another time or article. This time I’m going to try and keep it plain and simple and focus on something so many fail to do when working with a prospect – listen. … [Read more...]

Filed Under: From the Experts Tagged With: factoring broker, factoring industry, learn factoring, starting a factoring business