What Are Factoring Clients Really Like? Are they honest, hard-working people who appreciate and absolutely need your help or crooks out to rip you off? This book gives first-hand accounts, written by eight experienced small factors, of 21 client case studies. Each is true and full of practical wisdom and essential lessons. You will discover... 10 case studies of good and even great clients - and what makes them both attractive and profitable to the factors who fund them. 11 case studies of negative experiences, some of which are downright awful - and guidance as to how to avoid such disasters. Hundreds of tips, identified by various icons in the margins of each page. These icons indicate good advice, red flags, factoring … [Read more...]
Archives for 2009
Single Invoice Factoring Provides Cash Flow for Small Businesses
FROM MARKETWIRE May 13, 2009 BETHESDA, MD The Interface Financial Group (IFG), North America's largest alternative funding source for small business, reports instances where invoice factoring, when a business sells its accounts receivable invoices at a discount, has helped a company stay in business in the midst of the current global economic downturn. A recent report by BizBuySell.com, which tracks the health of small business, indicates that there has been a decline in business-for-sale transactions and valuations. Additionally, the number of closed transactions reported in the first quarter decreased by 36 percent as compared to the same 2008 time period. As many small business owners across the country are struggling, many … [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. … [Read more...]
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...]
Recourse and Non-recourse Factoring
The big difference between recourse factoring versus non-recourse factoring is the party at risk for bad debt. Understanding this important distinction will help a business select the right financing terms when factoring invoices and accounts receivable. … [Read more...]
What Industries Use Factoring for Business Financing?
Any company generating accounts receivable with creditworthy customers can take advantage of the cash flow benefits offered through factoring. In factoring, like any industry, there are certain clients that make up the greater share of business. … [Read more...]
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...]
Receivable Funding Benefits Small Business
CHICAGO (BUSINESS WIRE) -- Bibby Financial Services recently provided a $2 million credit facility to a produce company in Northern California. The company buys and sells strawberry plants to growers in California, Florida, and Mexico. In addition, Bibby Financial Services extended a $1 million credit facility to a transportation and logistics company with many fleets and locations throughout the western United States. The company plans to use the funds to meet payroll for independent contractors hired to execute deliveries and service local accounts. Nick Hart, CEO, Bibby Financial Services (CA), states, As we see traditional funding facilities continuing to tighten up on credit, it is important that businesses have the finance … [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...]