Wondering if there is an opportunity to find factoring business online? Consider the average number of times per month someone searches these terms online: • Receivable Financing – 12,100 • Invoice Factoring – 14,800 • What is a Factoring Company? - 18,100 • Factor Company – 27,100 … [Read more...]
Small Business Turns to Alternative Financing
While the demand for small business loans is up, a recent Federal Reserve survey shows the majority of banks are keeping credit tight. This is causing small business owners to turn to alternative financing options. The factoring industry is well-versed in how this need is fueling demand. Two recent articles in CNN Money covered the ongoing small business financing challenges and highlighted one possible solution... Merchant Card Advances … [Read more...]
Factoring Industry Conference, News, and Updates
Here's your Factoring Industry Updates including the latest news and 2012 factoring conference schedules. … [Read more...]
Factoring News: Sears Reaches Agreement with Factors
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The Wall Street Journal released some factoring news showing how working with Factors can help a company win big...even on Wall Street. NEW YORK (Dow Jones)--Sears Holdings Corp. (SHLD) shares soared Friday as the retailer was said to be making the rounds to reassure its financing partners that it has the wherewithal and the desire to meet its obligations. Shares were up 13% to $49.04 in recent afternoon trading, and have now gained 57% this month as positives from new financial plans with vendors mixed with talk the company could be taken over by its majority owner, Edward Lampert. A Lampert representative didn't immediately return a call for comment. The retailer on Friday was said to have talked with a number of its larger … [Read more...]
Factoring News: Financing is Tight Reveals Forbes-CIT Retail Study
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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...]
Factoring Brokers Need to Concentrate On Value, Not Just Money
The essence of offering factoring broker services is fairly simple. Help companies sell invoices to gain quick access to cash. But if you are only concentrating on the “money” side of the business, then you are only focusing on half of the issue. … [Read more...]
International Factoring Association Interview
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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...]
Pawning for Payroll? Try Factoring Invoices Instead!
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Looking for further proof small businesses are in need of alternative financing options like factoring? The ongoing credit squeeze has companies turning to an unlikely lender…the pawnshop! Many pawnshops are reporting that over half their customers are now … [Read more...]
Factoring Broker Training – Making the Most of 30 Seconds
Ready to market your factoring business? It’s time to perfect your intro with these… Factoring Broker Training Tips! One of the first marketing skills to master as a factoring broker is creating and delivering your personal 30-second infomercial. No, we’re not talking about … [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: The prospect must be an organized entity (Corporation, LLC). Sole proprietorships, … [Read more...]