Need a quick one-time infusion of cash for your company? Spot factoring just might be the answer. This business financing solution enables a company to receive an advance on a single outstanding invoice. … [Read more...]
How to Be a Small Business Factoring Specialist!
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Dash Point Financial has become a well-known specialist in small business factoring with over 15 years of industry success. Factoring Investor (FI) asked Jeff Callender, founder and president, to share some information on working with his company. … [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...]
Recourse and Non-recourse Factoring
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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?
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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
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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...]
Working Capital During the Credit Crunch
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There's no secret banks are putting the squeeze on business lending and credit lines. In fact 55% of small to midsize businesses surveyed by the National Small Business Association reported difficulty in obtaining credit last year. And that was in early 2008 before the credit crunch really hit. So where can business owners turn for working capital as banks say no to business financing? Here are three places to consider during the 2009 credit crunch: … [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: Personal and Business Name Services Offered Who benefits What's In It For Them (WIFT) 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 … [Read more...]