Right from the beginning let me first correct the title of this article. There is no “world” of medical factors, it’s more like a very small neighborhood. Within the finance industry, lenders that are approached with funding opportunities involving healthcare providers as the borrower (or factoring client) tend to retreat and decline these types of applicants. The obvious question is why? … [Read more...]
How to Identify a Fraudulent Factoring Deal
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Discover the 3 red flags a factoring broker or company should watch for that can be early warning signs of a fraudulent deal. Some of the specific due diligence procedures factoring firms perform on new factoring candidates are cumbersome and/or costly. Because of this, it’s very rare that a factoring firm would ask a cash flow professional to conduct a thorough analysis as part of an early pre-qualification process. Furthermore, a factoring company won’t even do an in-depth investigation on a prospect until after … [Read more...]
A Call to Factoring Brokers – What’s Up?
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What makes some factoring brokers successful and others fade away? Get three important steps from Don D'Ambrosio in his Call to Factoring Brokers! In the past I’ve written about the pivotal role a factoring broker can play in the cash flow industry. In my November 2011 piece titled, “A How To Guide For Factoring Brokers”, we received an overwhelming response from interested people from all parts of the globe looking to get involved in the factoring industry. That’s the good news. Unfortunately, I have also found that a large percentage of these “new brokers” had … [Read more...]
Now is the Time to Sell Temporary Staffing Factoring
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Discover why recent US labor statistics reveal that now is an excellent time for brokers to sell temporary staffing factoring in this article from Nikki Flores of PRN Funding. Did you know that many experts look at transitions within the temporary staffing industry to help make predictions about the future of our country’s economy? The reason is because the temporary staffing industry is deeply intertwined with all facets of Corporate America. Allow me to elaborate… … [Read more...]
Focus and Keep It Simple in the Factoring Business
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As much as I hate to admit it, I was never a fan of multi-tasking. Not in the factoring business or any industry. Unfortunately in today’s texting, video conferencing, blogging and emailing business world you sometimes have no choice. Do you too find it annoying when … [Read more...]
A Year End Thank You From Factoring Company Oxygen Funding
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It’s that time of year when many of us are looking forward to the holidays where we get to enjoy time with family and friends and attend holiday parties. Hopefully, many of us will be able to get away from the office for a few days to recharge our batteries and get ready for the New Year. Typically, when I write these monthly articles for Factoring Investor, the discussion focuses on the factoring industry and ways for you to market and manage your business. Last month’s publication, “A How to Guide for Factoring Brokers” was a smashing success with requests for the guide from factoring brokers from all parts of the world. We also received excellent feedback on our social media marketing for the factoring business article that ran … [Read more...]
A How To Guide For Factoring Brokers
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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...]
Factoring Brokers Need to Concentrate On Value, Not Just Money
The essence of offering factoring broker services is fairly simple. Help companies sell invoices to gain quick access to cash. But if you are only concentrating on the “money” side of the business, then you are only focusing on half of the issue. … [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...]
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...]