It’s tough to find factoring companies that will purchase dental financing receivables. The same goes for invoices created from elective medical procedures. This point was highlighted in a recent article we published on Medical Factoring Wears Many Hats. And then I received an email that intrigued me…. “My company offers medical financing to dentists and their patients.” What a great potential for both dentists and factoring brokers to offer additional services. I had to learn more! The end result was this interview with Lenny Leff of InfinaQuest LLC. Your email on buying dental care receivables really caught my interest. What transactions will InfinaQuest consider funding? We purchase both medical provider receivables and … [Read more...]
How to Factor Invoices on Small Margins
You probably have heard the many benefits of factoring receivables but may have thought it's only viable for those companies with large profit margins. Well, you might be surprised to know that many companies with small profit margins are benefiting from factoring also. For example let us say that you are only making a 3% profit on your product and the factoring fee is also 3%. … [Read more...]
BP Oil Spills Into Factoring Services
The gulf oil leak is showing up in some unexpected areas, including the accounts receivable factoring industry. … [Read more...]
Are You Linked In with Factoring Groups?
If you are looking to network with other factoring professionals then it’s time to get active with LinkedIn. This online networking platform is doing for business what Facebook did for friends and family. LinkedIn offers free membership for networking with over 70 million members in 200 countries. But even better, you can specify the type of professional groups you want to actively follow. The factoring industry alone has over 50 Groups focused on this specialized segment of commercial financing. If you are a factoring broker be sure to check out these most active groups: Commercial Finance Association Factoring Professionals (FP Americas and FP Europe) Trade Finance, Factoring and Forfaiting Professionals The Global … [Read more...]
When Do Factoring Brokers Get Paid?
Brokers and consultants earn lucrative and reoccurring commissions for the referral of business owners that use accounts receivable financing services. But when are these factoring commissions paid? … [Read more...]
7 Questions for Factoring Business Networking
Networking through professional groups is a time proven way to develop factoring clients. But what do you say to complete strangers? It’s actually pretty simple to keep the conversation rolling if you use these seven questions. … [Read more...]
Investor Spotlight: Working With AAA Factoring Group
AAA Factoring Group works with businesses and cash flow brokers to provide accounts receivable financing. Factoring Investor (FI) asked Duane Marchant, founder and president, to share some information on working with his company. … [Read more...]
What’s in Your Factoring Broker Package?
You know that feeling when you see something done right and want to share it with others? Well we found several "must have" factoring broker kits while … [Read more...]
Factoring News: Two New Slow Paying Customers
Your biggest and best customers might just now be your slow paying customers. This disturbing trend in accounts receivable financing is affecting both business owners and factoring companies. Here's an enlightening update: … [Read more...]
Using a Factoring Company
One of the most common challenges for companies that work with commercial clients is having to offer credit terms. This gives clients the option to pay an invoice 30 to 60 days after you have delivered your product or provided your services. Your company has to cover the expenses of fulfilling the contract and then wait – for up to two months – to get paid. Offering credit is expensive Most small companies have to offer credit even though they can’t afford it. Large companies demand it and you have to provide it if you want to earn their business. But providing credit has a cost, especially if your company has tight cash flows. At the very least, it will slow down your growth since you won’t be able to add new clients who may also demand … [Read more...]