IFA Announces New Factoring Training Classes

The International Factoring Association has just announced NEW training courses and meetings,giving you more options for continuing education and networking! Learn Invoice Factoring With IFA Mark your calendars for these upcoming training courses and events: Digital Marketing May 1 - Webinar The Law and Business of Factoring June 23 - 24 - Planet Hollywood - Las Vegas, NV Account Executive / Loan Officer Training Course June 26 - 27 - Planet Hollywood - Las Vegas, NV Meeting for Women in Commercial Finance July 14 - 15 - Paris Hotel - Las Vegas, NV Transportation Factoring Meeting September 11 - 12 - Omni Nashville - Nashville, TN Portfolio Operations and Monitoring October 13 - 14 - Planet Hollywood - Las Vegas, NV Credit, … [Read more...]

Are They Really a Factoring Prospect? The Telephone Interview

In my early days in the factoring business, prospect calls were few and far between. Whenever the phone rang, I grabbed it quickly and hoped for the best. In those days, the process of qualifying a prospect could take me up to an hour. I would have long detailed conversations, learning everything I could about the client’s business. After these detailed calls, I would hand the client off to the factoring company I thought would help them best. But there were two problems with this strategy. First, it was not a very effective use of my time. Especially when I found out, 45 minutes into a call, that the prospect would not qualify for factoring. And second, it did not scale well. It wasn’t long before I was on the phone eight hours … [Read more...]

Friction In The Factoring Industry

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...]

New Healthcare Staffing Factoring Niche to Consider: Mental Health Specialists

I’m sure that many of you are aware that our nation is facing an imminent nurse shortage, and truth be told, there are a lot of cash flow opportunities within the temporary nurse staffing industry. With that said, there are also a lot of factoring brokers … [Read more...]

The Factoring Business Notice of Assignment – Never Fund Without It

Real life scenario explains why factoring companies require a Notice of Assignment to fund business invoices in this article from Oxygen Funding. A few years ago we had a factoring business prospect referred to us from a broker that was affiliated with our company. The prospect was engaged in the business of logistics, working with several well known automotive companies. His business was growing and he needed cash flow to hire additional employees and take on more jobs. … [Read more...]

How to Qualify a Factoring Prospect by Asking Three Simple Questions

It’s a factoring broker’s job to deliver companies with cash flow issues to the appropriate funding source. Although this task sounds easy enough, in reality, it’s not always so simple. Picture this scenario: You have a client in need of cash flow who has been in business for a year, has three large customers and … [Read more...]

Factoring News: Financing is Tight Reveals Forbes-CIT Retail Study

Nearly 50% of Retail Executives say their ability to secure financing has not improved or has worsened in the past year, according to a recent study released by CIT Group and Forbes Insights. As banks continue to restrict business lending the need for factoring invoices remains strong. Overall the study shows retailers generally pessimistic about the U.S. economy with 76% expecting the financial crisis to extend into 2012 or beyond. Here are some additional results from the news wire that may also impact your factoring business. Press Release: October 19, 2011 08:30 AM Eastern Daylight Time NEW YORK--(BUSINESS WIRE)--Middle market retail executives are bearish on a short-term U.S. economic recovery, even though many expect … [Read more...]

International Factoring Association Interview

What changes are facing the Factoring Business? We are honored to get insights from Bert Goldberg, Executive Director and founder of the International Factoring Association, in this issue of … [Read more...]

Factoring Training: Social Media and Small Business

Whether you are in the factoring business or cater to another industry, without customers your chance of survival is basically nil. The cornerstone of any business consists of … [Read more...]

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...]