We recently received this query from a factoring investor subscriber: "In the past, prospective clients complained about factoring costs being very expensive. How do we overcome this objection?" There are several ways to address the cost question as explained here by Mike Ponomarew. … [Read more...]
2009 Factoring Conference
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...]
Recession is Nirvana for Factoring Business
With the recession and tightening credit markets the timing couldn't be better to be part of the Factoring Industry than right now! … [Read more...]
Searching for Income? Factoring Makes Top Ten Jobs for 2009
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When Yahoo puts out its Hot Jobs list, people listen. As job prospects are expected to slow in 2009 people are urged to look into fields that are poised to excel. Yahoo Hot Jobs listed being a Factor as one of their Top 10 Professions for 2009. More and more businesses are seeking … [Read more...]
5 Keys to Factor Marketing Success!
Successful Factoring Consultants utilize a marketing plan to stay focused and on track in developing business. Here are 5 essential keys to building an effective targeted marketing plan, … [Read more...]
Is Factoring a “Loan” Like a Bank?
Factoring is not a loan and there are many differences between getting a bank loan and utilizing factoring. Banks lend money. Most of the time they require some form of collateral which can be challenging for small or new companies. Additionally, banks are limited (by regulation) to how much money they can advance a business owner (oftentimes between 30% - 50%). Lastly, bank "loans" show as a debt on the business owners books. Factoring is not lending. It is the purchase of a receivable at a discount. There are no collateral requirements, no "debt" and Factors are not limited in the amount of money they can advance (usually up to 90% depending on the payer). … [Read more...]