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). … [Read more...]
Inside the Mind of 50 Entrepreneurs…
Have you ever wanted to start your own business, to be your OWN boss, but too afraid about taking that path? Brian Schwartz, the author of 50 Interviews: Entrepreneurs interviewed over 50 entrepreneurs to learn the truth about their challenges as well as their rewards. Get advice from people who were once in your same shoes. Scared? If you don't make that jump now, when will you ever? If there has always been something stopping you, a fear in the back of your mind keeping you from achieving your dreams, this book aims to show you a way to break free. The interviews shed light on what inspires and drives the ordinary, everyday entrepreneur. It is a collection of 50 role models who inspire others and prove that anything is … [Read more...]
How Accounts Receivable Factoring Works
When a business needs cash but doesn't want to borrow money they often turn to Accounts Receivable Funding, also known as Factoring. Rather than a bank loan, the business sells the right to receive payment on outstanding invoices to an investor or factoring company. … [Read more...]
Why Factors say YES when banks say NO
Have you ever heard this from a prospect; "Don't waste your time, I am not bankable?" Did you then wonder why a factor would ever consider funding a company that a bank would decline? If you have, believe me, you are not alone (I get asked this all the time). Let me see if I can help clear this up. Let me begin by defining a strong banking prospect: Prospect has been in business for a minimum of 2 years Prospect has audited financial statements reveal solid profit margins in the previous 12 month accounting period Prospect has steady revenue growth with no "Peaks or Valleys" Prospect's management team is strong with a proven track record of success in the industry Prospect has absolutely no bankruptcies or judgments in the … [Read more...]
FactoringInvestor is presenting a FREE Factoring Webinar..
**Second Consultant Webinar Completed - Stay Tuned for more info!** Factoring has always been big business and with the recent economy challenges it is being utilized now more than ever. Want to know about Factoring and how you can profit from it? Want to know what marketing methods work and what methods not to bother with? Want to know how to jump start your business and stabilize your income? This FREE 60 minute webinar will contain the most important information you will need in taking advantage of the credit crunched economy! … [Read more...]
What is Medical Factoring?
The term "medical factoring" can be interpreted several different ways but essentially it is factoring that deals exclusively with invoices that are "medical" in nature. For example, medical providers (such as doctors or those that sell medical supplies) may have to wait up to 90 days to get paid by an insurance company, HMO, or Medicare/Medicaid. These cash flow issues present the same challenges as traditional, non-medically related, companies. When medical providers utilize factoring they often receive their "advance" from the factor in as little as 24-48 hours. This allows them to better manage their cash flow, increase their business, and not take on additional debt. If you are in need of medical factoring, you will want to seek out … [Read more...]
How old is the Factoring Industry?
Factoring is probably one of the oldest forms of financing - dating back to ancient Rome. In the early 1900's the first independent factoring companies were formed. In the beginning it was used for smaller companies and was a fairly expensive method of financing. By the 1960's many Fortune 500 companies were using factoring as a method to stabilize cash flow. Today's factoring companies are large and have significant dollars available. Additionally, their fees have been reduced significantly making factoring a viable option for companies that might have considered it too expensive in the past. … [Read more...]
What is a UCC-1?
UCC stands for "Uniform Commercial Code." It is a federal code that is recognized in over 40 states. The UCC took the place of various state statues covering conditional sales, chattel mortgages, and other forms of personal property. Think about how a mortgage or deed of trust tie the home loan to the collateral - enabling a lender to foreclose on the property due to nonpayment of the note. A UCC is a way to tie collateral (other than real estate) to the debt owed. A UCC-1 is on record with Secretary of State and/or the County Recording Office. … [Read more...]