Join us Tuesday, March 23rd at 2 pm or 9pm EST to discover how to profit with alternative financing.

Nearly 80% of North American companies report that the economy has had a direct negative effect on their business with a majority citing lack of funding, tightening cash flow and a slowdown in customer payments.

The Alternative Business Finance Industry is bursting wide open with opportunity and experiencing unprecedented growth in assisting small to medium sized business with their cash flow endeavors.

Yet an astounding numbers of companies are not aware of this $136 billion dollar industry and the cash flow instruments available to them when the Bank says “No!”.

The credit crisis and economic meltdown has also created an opportunity for business professionals and individuals seeking a career change to earn substantial residual income in brokering, buying and selling invoices.

Plan to attend the complimentary webinar titled The Alternative Finance Industry Exposed hosted by The Business Accelerator Inc. and Millennium Funding. You will learn how to Capitalize Your Business, Your Potential and Your Future.

We are sorry you missed this webinar. Please sign up below to be notified of our next event and the latest factoring news.

This all new webinar is scheduled Tuesday, March 23rd – Two Times to Choose From!

2 p.m. EST – https://www2.gotomeeting.com/register/539521594

9 p.m. EST – https://www2.gotomeeting.com/register/502269690

In the past, financial relationships were largely with your own personal banker. Nowadays, your car loan may be from a completely different financial institution than your home loan, business credit line, or credit cards.

The reason being is that, with competition, you are able to get specialized service and better pricing.

For the most part, Bank Factoring and a Factoring Company will have similar pricing, but price is not your only consideration.

A full-service factoring company comes out on top when you think of what additional benefits you receive…

Speed - Most banks are not known for their quick turn around. Factoring companies will typically fund the same day or within 24 hours. Factors use a lot less paperwork.

Credit Help – Today’s factors do more than buy your receivables. They can check out your prospective clients credit and help you avoid bad accounts.

Collection – A full service factor will supply you a collection expert. These people are good at what they do. They know how to maintain the credibility of your business, and also collect some money!

Collateral – Although banks suggest they are only interested in the receivables, they will also typically require a secured position in all your assets as security. This can be very problematic when you need additional funds and the bank has tied up your collateral. A Factor will usually only use the actual invoices as security – enabling you to continue to run your business as you see fit.

Flexibility – Face it, banks are not flexible. Today’s full service factors have to be flexible to compete with each other. They can think outside the box and most deals, unlike a bank, are not ‘pass or fail.” A factor will try to find a way to make the deal work for you.

All things considered, you are typically much better off dealing with a full-service factor than going to a bank that just happens to ‘also offer” factoring services.

For more information on improving cash flow with factoring be sure to read Unlocking the Cash in Your Company – How to Get Unlimited Funds Without a Loan!

Ok, you are sold on selling some invoices, you see the benefits, but you are just not sure how to select the right factoring company. Here are 7 essential factors to consider and compare:

1. Recourse or Non Recourse – Recourse typically alludes to a Factor having the right to make you buy the invoice back in the event the payer or debtor does not come through. Non-recourse is just the opposite – the Factor is on their own. Typically most Factors will have some sort of recourse but the terms of how that operates are worth comparing.

2. Term of Relationship – Some Factors require a term outlining how long you must factor accounts receivable with them. Typically this is one-year term, but it varies Factor to Factor. You don’t want to tie yourself to a Factor that you may outgrow so look for contracts you can easily terminate with advance notice.

3. Fee Structure – The fee structure affects your bottom line. Since this can vary greatly it is one area where you want to shop around. The discount fees are typically around 3% but could be much less (or more) depending on the types of account receivables and the individual business. Some factoring companies might also charge a one-time set up fee before purchasing invoices.

4. Monthly Minimums – A Factor might require a minimum volume level each month. For some businesses this is a non-issue given their volume levels; for others this can be a serious challenge. In either case there are Factoring companies that don’t require monthly minimums or simply work off a monthly average.

5. Service – Don’t underestimate service. Is the Factor impersonal? Are they late in returning phone calls? If so, you may want to look for someone else. Many companies will give up a little on the fee structure to have a company with better quality service.

6. Full Service Factor – Many Factors offer services that go way beyond purchasing invoices. They can pre-qualify potential clients, handle billing and collections, or even help during tax time. Although you may not need any of those services initially, consider picking a Factor that can grow with you.

7. What about factoring brokers or consultants? – Many companies work through a broker. Although this seems like you are adding another layer, brokers often know numerous Factors. They can assist with the comparison shopping and pair you up with the best factoring company that fits your needs. Since factoring brokers are paid by the Factor directly you typically don’t give up anything in the way of fees to work with a consultant or broker.

A successful accounts receivable financing program should provide cash advances that meet your needs. Feel confident in selecting the right company to factor invoices by comparing services upfront.

When a factor makes an advance to a business on invoices or accounts receivable they want to be certain payment is received from the account debtor. Whether or not the account debtor is notified of the assignment differentiates between notification factoring and non-notification factoring.

With Notification Factoring the account debtors are notified the invoices were purchased and are requested to make payment directly to the factoring company.

In the case of Non-Notification Factoring the account debtors are not notified the business sold and assigned the receivables.  Also known as confidential factoring, the invoices are generally paid to a lock-box.

Factoring is primarily handled on a notification basis.  In fact about 82% of factoring involved notification with non-notification only comprising 18%, according to the most recent survey results published by the Commercial Financing Association (CFA).

While notification factoring continues to be the industry standard, there are times when non-notification factoring will best provide a company’s need for confidentiality when factoring their account receivables.

*****Webinar Completed…stay tuned for another!****

Free Webinar – “Creating Positive Cash Flow – When the Bank says No!”

When: January 29, 9:00pm – 10:00pm (EST)

Two words: Cash Flow.

In these economic times it is not only survival of the fittest, it is also survival of the smartest. Cash Flow is your lifeblood. It can be the difference of making payroll or even keeping the lights on; and your bank may not be much help in 2009.

Fortunately there are realistic alternativesfor businesses being utilized every day. Strategies that not only keep you going during these times, but may also help you expand. But first, you need to know all your options.

Here is the great part

You can have free access to an informational webinar about alternative financing, factoring, and turning outstanding invoices into cash.

Whether you have a current financial business need, want to learn more about your options, or just want to find another way to make more money, **sign up here.**

Learn first hand from the source on how thousands of businesses are staying ahead of the pack (and their competitors).

What do you have to lose?

Nothing. The Webinar is Free! What if your business could become recession proof?

Don’t delay and make 2009 your best year ever!

*****Webinar Completed…stay tuned for another!****