Factors and Asset Based Lenders Fill Bank Financing Void

The results are in and the numbers show what many of us were already seeing, factoring and asset based lending are on the increase.  Amazingly, factoring has experienced continued growth for the past 33 years in every year except 2001.

Just take a quick look at these highlights Read more

Delinquent Debt – How to Make Good Money With Bad Debt!

For better or worse, the United States economy runs on debt. In fact consumer credit alone totals over 2.4 trillion dollars (Federal Reserve August 2009 statistical release). That doesn’t even include the big-ticket items like mortgages, commercial debt, and business loans!

Now think about the state of the economy and the never ending reports on delinquencies, slow pays, and bad debt. If you are looking for the opportunity in this dismal economy…. think delinquent debt!

Sound crazy? Think it through: Read more

Investor Spotlight: It’s Not Just Construction Factoring with Quantum Corporate Funding

Factoring account receivables is helping businesses through these tough economic conditions opening the door to earning opportunities for cash flow consultants.

FactoringInvestor (FI) caught up with Howard Chernin (HC) to fill us in on the accounts receivable funding business. Read more

Marketing – If the Phone Does Not Ring, Nothing Else Matters

No matter what industry you are in, it is easy to get bogged down with the little things. 

Some people are so focused on their business name, business cards, stationary, website, and office furniture, they forget the biggest goal; 

Getting the Phone to Ring!  Read more

Factoring Conference CD and Handouts

The International Factoring Association (IFA) wrapped up their 15th Annual Factoring Conference in Orlando, FL on April 25, 2009.

If you missed this informative event IFA has made it easy to listen to the 2009 factoring conference sessions on audio CD.  This year’s session handouts are also available for download in PDF format.

For more information visit the IFA site.

Factor Marketing – 5 Proven Referral Sources

A factoring broker has excellent earning potential referring business to factoring companies for accounts receivable funding. But before there are commissions there must first be prospects, which all stems from active marketing.

Successful factoring brokers continually turn to referral based marketing as a key component of an effective marketing plan.  Consider these five proven performers when developing factoring referral business: Read more

How to Identify a Good Factoring Prospect

Cash is always in demand so there’s no shortage of companies that can benefit from the business funding factoring provides.  The greater challenge is finding a business that is likely to receive funding from a factor. Ask these 4 questions to identify a good candidate for factoring accounts receivable: Read more

Factor Marketing – Perfecting the Elevator Speech

Quick! Tell me what you do in two to three sentences. The elevator speech is a cornerstone marketing component for developing accounts receivable factoring clients.

Like with most businesses, the elevator speech is a brief commercial describing your services that can be used when contacting customers in person or by phone.  Here are five key elements of any successful elevator speech:

1. Personal and Business Name
2. Services Offered
3. Who benefits
4. What’s In It For Them (WIFT)
5. Duration of 30 seconds or less

This introduction assumes there is a limited amount of time, like an elevator ride, to describe what you can offer.  When putting the components together, a factoring consultant elevator speech might sound like the following examples:

“Hello! My name is Tracy Rewey with Diversified Investment Services.  We help companies generate cash by purchasing outstanding invoices.  We specialize in saying yes when the banks say no.  Please contact us if you or anyone you know can benefit from an advance on their accounts receivable.”

“I’m Joe Smith owner of Cash Flow Solutions.  We supply something every business needs – money!  We provide cash advances on slow paying invoices.  Rather than waiting 30 days for payments, our clients have immediate access to funds to meet payroll, pay bills, take advantage of supplier discounts, or expand their business. ”

The elevator speech should be customized to your individual style and the types of clients targeted. Be sure to spark interest and finish by handing the person a business card kept handy in a jacket pocket or an outside compartment of a briefcase.

Practice makes perfect so recite in front of a mirror and practice on family or friends.  Once you have the elevator speech mastered you’ll be ready to use network marketing to develop clients that can benefit from accounts receivable financing.

Earn Consultant Fees Factoring Invoices with Millennium Funding!

Factoring account receivables is helping businesses through these tough economic conditions opening the door to earning opportunities for cash flow consultants.

FactoringInvestor (FI) caught up with Michael Ponomarew (MP) from Millennium Funding to fill us in on how they are helping consultants earn fees by helping businesses sell invoices. Read more

Monterey Leads the Way with Consumer Finance

With Consumer Financing and Debt Recovery hot topics on every business owners mind right now, FactoringInvestor (FI) caught up with Scott Little (SL) from Monterey Financial to fill us in on how they are helping businesses through these tough economic conditions. Read more

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