When Should a Business Use Factoring?

Need to meet payroll?   Are suppliers demanding payment?   Has the bank reduced or pulled your credit line?   These are just a few of the challenges facing businesses in today’s economy.

In fact over one third of banks surveyed by the Federal Reserve in April 2009 have reported a decline in credit line and credit card limits for businesses. Read more

Marketing Tools For Small Factors & Consultants – A Hands-On Guide to Methods That Work

What are the most effective marketing methods to find new factoring clients?

This is a vital question confronting all factors and factoring consultants, especially those new to the business. Yet surprisingly little is written to answer such a key issue.

This book shows which tools work (and which haven’t worked) for seven professionals in the industry. You Will Discover:

• The most effective methods which have the lowest cost – or no cost at all.
• Methods too often used by newcomers which are quite expensive and generate very little (if any) business.
• How to define your “choice client” then identify and zero in on that audience.
• Specific advice about what to do (and what not to do) as you get started.
• Unique methods not often considered when planning a marketing strategy.
• An analysis of all the marketing tools presented including:
• The business cards used by the author and each contributor.
• Charts reviewing marketing resources recommended by the writers.
• A chart summarizing all the marketing methods described in the book, including their relative effectiveness and cost.
• Sensible yet easily overlooked practices of highly effective networking.
• A sample public speaking presentation by one of the best in the business.
• Essential yet simple guidelines for making your web site a knockout instead of a yawner.

**Click Here to Download the Marketing ebook for only $13.95**

Or Combine as a Special Bundle

**Click Here to Download the entire Small Factor Series – 6 ebooks in all – for only $95.00**

About the Author: Jeff Callender has been factoring small receivables since 1994. With his books, articles, web sites, classes and workshops, he has taught thousands how to profit with this lucrative investment. This book reveals the essentials you must understand in order to safely make these remarkable returns.

Unlocking the Cash in Your Company “How to Get Unlimited Funds Without a Loan”

Do You Need Capital for Your Company?

Will factoring help your small business?

Learn how selling your invoices can generate immediate cash flow, who can qualify, when to factor and when not to, how to find the right factor, how to know if a factor is right for your company, and much more.

This book introduces an alternative means of financing called factoring which is misunderstood by some business owners, unknown to most, yet available to many who cannot obtain a bank loan. It can open doors you never knew existed to provide the cash your company sorely needs.

You Will Discover…

• Why you may never have heard of factoring, despite its existence for centuries.
• What types of businesses qualify for these funds and the simple requirements to meet.
• Why many companies turned down by banks are welcomed by factors.
• Tips and resources to make your search for a factor fast and inexpensive.
• Features and services to look for in a factor…and clues as to which factors to avoid.
• What to expect in the application process, and its speed compared to traditional loans.
• Common factoring procedures and why they are utilized.
• How to inform your customers you are factoring in a way that strengthens your business.
• A flowchart of the pre-funding steps, plus another of a normal factoring transaction from start to finish.
• Faulty assumptions often made about factoring, and mistakes to avoid once you’re under way.

About the Author: Jeff Callender has been factoring small receivables since 1994. With his books, articles, web sites, classes and workshops, he has taught thousands how to profit with this lucrative investment. This book reveals the essentials you must understand in order to safely make these remarkable returns.

**Download the entire Small Factor Series – 6 ebooks in all – for only $95.00**

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.

Factoring – The “F” is for Flexibility

There are a lot of misconceptions about Factoring accounts receivable. The two biggest myths are It Costs Too Much and Lack of Flexibility. That may have been true in “the old days” but nothing could be further from the truth today. Read more

Using a Factor’s Credit Risk Expertise

You probably already know about the ability to sell invoices to a Factor. You may also know you don’t have to Factor all your invoices – just the ones you want or need. But did you know a Factor could provide tremendous help on invoices that you don’t even factor? 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.

2009 Factoring Conference

Looking for in-depth information on factoring account receivables? The International Factoring Association (IFA) is holding their 15th annual factoring conference April 22-25, 2009, at JW Marriott Grande Lakes in Orlando FL.

This 4 day conference is dedicated to banks, finance companies, and factoring professionals offering financing through factoring. Here are a few of the scheduled sessions that caught my eye:

• Funding Your Factoring Operation
• Tricks of the Trade for Entrepreneurial Factors
• Internet Marketing
• Factoring 101
• Economic Projections affecting the Factoring Industry
• Factoring Around the World
• Small Factors Workshop

The cost to register for the conference is $995 (plus an additional $50 for non IFA members).   If you want to take advantage of the information without the travel and attendance costs IFA usually offers an audio CD.   The CD from last year’s 2008 conference is being offered for just $100 plus many of the speaker handouts can be downloaded in PDF format at no cost!

Visit IFA online  for more information on the factoring conference for financing invoices and accounts receivable.

5 Keys to Factor Marketing Success!

Successful Factoring Consultants utilize a marketing plan to stay focused and on track in developing business. Here are 5 essential keys to building an effective targeted marketing plan,

Read more

Take Aim With Factor Marketing!

“IF YOU AIM AT NOTHING YOU WILL HIT IT!”

What an interesting phrase but how does it relate to the Factoring Industry?

Many Factoring Consultants exhaust their marketing efforts with a shotgun approach, never aiming or directing a Target marketed message to a Target marketed audience. Unfortunately, these individuals end up creating a lot of activity but not being very productive. Read more

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