5 Free Tools to Help Factoring Brokers Online

Looking for marketing and factoring training to increase business?

Take advantage of these…

Free Tools to Grow Your Factoring Business Online!

1. Google Places Page for Factoring

Believe it or not Google is providing a free web page for local businesses through their Google Places Pages. This allows Read more

Factoring Brokers Get Paid Before a Deal Closes?

You have to hear about this…

New Factoring Broker Promotion!

We all know that factoring brokers normally get paid a referral fee after the factoring companies fund the invoices.  But PRN Funding is currently running a special offer to factoring brokers that pays a $50 gift card upon referral of a qualified medical staffing lead!

It doesn’t matter if it turns into a closed deal… you still get paid! It just has to meet these requirements:

Upon evaluation and approval that the following criteria have been met for a referral, PRN Funding will mail out a $50 gift card (of the broker’s choosing) directly to the referral source:

1. The prospect must be an organized entity (Corporation, LLC). Sole proprietorships, general partnerships and DBA’s do not qualify for this promotion.
2. Broker/cash flow consultant must, at minimum, informally introduce PRN Funding, LLC to the prospect. In other words, PRN Funding will not make any cold calls as part of this promotion.
3. The prospect must have a legitimate need and interest in accounts receivable factoring.
4. PRN Funding must receive a completed application and accounts receivable aging report from the prospect.

Source: Get all the details from Nikki Flores of PRN Funding at Factoring Broker Summer Promo.

Gift card choices include popular places like Amazon, AMC Movie Theaters, Starbucks, iTunes, Golfsmith, Olive Garden, and many more.

Want more good factoring news?

You can also be eligible to win an iPad if you refer the most potential clients (with at least 3 leads needed to qualify).

But hurry, factoring brokers have until September 30, 2011 to take advantage of this great offer.

Need marketing ideas to jump start your factoring business?

Grab your copy of Marketing Tools for Small Factors and Consultants.

You’ll get instant access to this incredible ebook filled with 45 marketing strategies from 7 successful factoring brokers, consultants, and companies.

Is Groupon Marketing, Factoring, or Loan Sharking?

How Groupon makes Factoring Invoices look downright cheap for small business financing. Read more

Invoice Factoring News

Weren’t able to make it out to Washington DC this month for the Invoice Factoring Conference?  You can still get all the great factoring news and training from the event. The International Factoring Association has now made audio CDs and handouts available for purchase from their 2011 Factoring Conference at a reasonable $100 price point.

Head on over to the IFA website to check out the great information. Read more

Grow Your Factoring Business with Participation

So you have this great factoring business and all of your efforts are starting to pay off.  Your marketing campaign is generating new leads and your existing clients are growing.  For most businesses this would be a dream come true.  Right?

But what happens when your factoring company does not have enough cash to fund new invoices?  It’s almost as if you are in the same predicament as your clients.  You have new business but no capital to grow.

One solution called Participation is a great way for you to keep your current book of business and fund new deals.  It’s actually quite simple and very effective for many factoring companies.  A participant can enter into an arrangement where they fund all or a portion of the factor’s invoices in return for a percentage of the fee charged to the client.  In some cases the participant will allow the factor to stay on as the lead, allowing them to keep their relationship with their client.

At Oxygen Funding, we have worked with several factors in participations with great results.  KD, owner of a Midwest based factoring firm says, “I really enjoy working with Oxygen Funding to help provide additional funding resources to my clients.  Participating with Oxygen has allowed me to continue to service my clients while reducing my risk and funds outstanding per client.  I think it’s a win-win situation for both of us.”

Let’s face it, there’s nothing more frustrating to a factor than having to let go of a good client or give away new business due to lack of funding.  Think about it, you earned the business; shouldn’t you get to keep it?  Participation may be the answer for you.

Don D’Ambrosio is the president of Oxygen Funding, Inc. and a can be reached at 8007903419 or you can visit his website at www.oxygenfunding.com .

Factoring Conference and Training for 2011

Looking to network with factoring companies?

Desire to learn directly from the factoring industry leaders?

Then make plans to attend the IFA’s Annual Factoring Conference April 13-16, 2011, in Washington DC.

Here are a few of the presentations and speakers they have in their impressive line-up this year:

• How the Federal Reserve Operates – Governor Elizabeth A. Duke
• How the Business and Finance World will look in the Coming 20 Years – Dr. Michio Kaku
• Current Topics in Transportation Factoring – David Jencks, Esq.
• Play Factoring Jeopardy – Phil Cohen
• Issues surrounding Sales Tax, Credit Insurance, Misdirected payments, Invoice Terms & Arbitration – Mike Ullman, Esq.
• Factoring 101 – Darla Auchinachie
• Frauds, Fairy Tales and Facts about Managing a Factoring Portfolio – Allen Frederic, Michael Monk, Pat Haney, Jay Atkins
• Introduction to Sales & Marketing – Blaine Waugh
• Small Factors Roundtable – Melissa Donald, Ryan Jaskiewicz, David Jencks, Esq.
• Factoring in Canada – Jeffery Alpert, Esq, Martin Fingerhut, Esq, Oscar Rombolà
• Plus networking events, receptions, and a golf tournament sponsored by factoring companies like RMP Capital and Bibby Financial.

You can register on-line at www.factoringconference.com or by calling the IFA at
800-563-1895.  There is a $50 discount for registering by January 31, 2011!

TFI Launches January 3, 2011

With the holiday season in full swing and the New Year just around the corner, 2010 will end going down in history as a year small business would like to forget.

The more things seemed to change the more they stayed the same. The reality is the credit crisis continued to inhibit growth due to the record bank declines. Traditional forms of financing have become an anomaly to cash flowing small business. With all the uncertainty, looming for 2011 the Factoring Industry remains strong, recession proof and has become the financing tool of choice.

“TFI” is launching January 3rd, 2011 and with over 100 years of Industry experience “TFI” is poised to revolutionize the Factoring Industry and help small business…more to come!

Accounts Receivable Factoring for Nurse Staffing Companies

The cash flow gap is a common challenge to nurse staffing agencies.  It can take months for the hospitals and nursing homes to pay invoices for staffing services yet the nursing staff needs paid every week or two.

Factoring companies can help by providing small business funding to Nurse Staffing Agencies, but should they choose recourse or non recourse factoring?

This article from guest author Philip Cohen of PRN Funding explains the difference.

Recourse and Non-Recourse Nurse Staffing Accounts Receivable Factoring: What’s the Difference?

By: Philip Cohen

What is nurse staffing recourse factoring?

For the most part, recourse factoring is the most common and the most affordable nurse staffing financial help available to business owners. In this type of factoring arrangements, the accounts receivable factoring company will require an agency owner to buy an invoice back if the client does not pay within a specified amount of time. Moreover, the nurse staffing agency owner accepts full credit risk for any and all accounts receivables that it sells to the factoring company.

What is nurse staffing non-recourse factoring?

The other accounts receivable factoring option that owners have is non-recourse factoring. In a nutshell, non-recourse nurse staffing financing agreements hold the factor entirely responsible for an unpaid invoices if the following is true:

If the hospital, nursing home or vendor management system (VMS) goes bankrupt during the time an agency owner’s invoice was factored.

If the hospital, nursing home or VMS goes out of business during the time an agency owner’s invoice was factored.

It’s important to keep in mind that non-recourse accounts receivable factoring does not cover the following situations:

• Very late payments when there is no insolvency
• Disputes/challenges with nurse staffing services
• General collections issues

Naturally, both options have pros and cons that an owner should consider before choosing which type of agreement to make. Typically, they will receive lower factoring fees and/or higher advance rates if they choose to enter into a recourse factoring relationship. On the other hand, a non-recourse accounts receivable factoring arrangement buys nurse staffing business owners’ protection if a hospital nursing home or VMS goes bankrupt. Ultimately, agency owners need to review their accounts receivable factoring contract in detail with a lawyer to determine which type of arrangement, recourse or non-recourse, is the best fit for their agency.

About the Author: Philip Cohen is the founder and president of PRN Funding, LLC, which is an extraordinarily focused niche player in the healthcare staffing invoice financing market place. Through a process known as factoring, PRN Funding provides business owners with the financial resources needed to grow and effectively compete in the industry. Contact Philip Cohen at toll-free 866.776.5407 or via email at pcohen@prnfunding.com. Please visit PRN Funding, LLC on the web at http://www.prnfunding.com.

Article Source: Ezine Articles – Recourse and Non-Recourse Nurse Staffing Accounts Receivable Factoring: What’s the Difference?

Accounts receivable factoring is available to a variety of industries including medical, construction, transportation, manufacturing, staffing, and other business to business services.  Factoring companies provide an advance on invoices so businesses don’t have to wait 30-60 days for payment from customers.

How Factoring Brokers Earn Fees

With numerous factoring courses and factoring books available online, many people wonder just how factoring brokers earn their fees.

While factoring commissions are paid in a variety or ways, there are some standards to start with. 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

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