About a month ago, I posted a discussion on LinkedIn about how to become a factoring broker or consultant in the invoice factoring industry. Specifically, we put together a guide for new and current brokers titled, “Guide to Wholesale Factoring.” The guide contains information on industry related topics including, benefits of factoring, factoring vs. bank financing, sample transactions, targeted industries, qualifying prospects, overcoming objections and more. The response was absolutely overwhelming! … [Read more...]
Looking For New Factoring Deals? Look Inside First!
Where are the invoice factoring deals? Whether I’m conducting a cash flow workshop or networking with colleagues, this question seems to come up at least once per event. … [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...]
Is Your Factoring Business In It For The Long Run?
I realize this question may seem obvious to anyone who owns a factoring business. Every business owner wants to succeed and have their company flourish which is why we took the leap of faith in the first place. Sometimes however, our actions … [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 Training: Social Media and Small Business
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Whether you are in the factoring business or cater to another industry, without customers your chance of survival is basically nil. The cornerstone of any business consists of … [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...]
Starting Your Own Factoring Business? It’s Your Call
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At some point in our working lives many of us think about starting a business and being our own boss. The thought of … [Read more...]
Factoring – How Medical Billing Companies Can Avoid the Double Credit Crunch
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In this economy, many service-oriented small businesses are struggling to obtain cash on two fronts - (1) Acquiring or extending a line of credit and (2) Getting their customers to pay in a timely manner. Outsourced medical billing providers are just one type of business that is being affected by the "double credit crunch." On the one hand, banks have … [Read more...]
Factoring: Is It Always About the Account Debtor?
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We all know that factoring has been around for ages and due to the recent changes in the economy its popularity has increased dramatically. With financial institutions constricting credit to businesses, the increased demand for cash flow has created an opportunity for the asset based lending industry especially for … [Read more...]