I just received a large order from a local company - should I take it? This is what I call the 'ship and hope" syndrome. In other words, fulfill an order; ship the product and 'HOPE" to get paid. In today's economy, not knowing the credit (payment history) of your clients is a recipe for disaster. Unfortunately, I would estimate that over 90% of the businesses … [Read more...]
Cross Border Factoring – Look to the North to Expand Business
Why do business in Canada one might ask? You may or may not know that Canada is the second largest land mass country in the world with Russia being the first. However, the population in Canada is just over 30 million about the same as the state of California. … [Read more...]
“Hey Millennium, I have a great Purchase Order Funding Deal”
Over the years, we have fielded many calls from consultants inquiring about Purchase Order Funding opportunities (PO Funding). These types of prospects seem to garner a great deal of excitement as most prospects looking for PO Funding are in dire need of cash, and they need it now. … [Read more...]
Referral Sources Produce Qualified Leads!
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In order to become a successful Consultant in the Factoring industry, you have to consistently Find your Prospects, Expose your Prospects to you the Consultant, Educate the Prospects about the services you provide and WIFT (What is in it for them) or why should they do business with you? … [Read more...]
Cost Doesn’t Matter – or – Does it?
It's not the cost that's important - It's the Opportunity Cost. Of all of the questions posed to factoring companies and consultants … [Read more...]
Why Factors say YES when banks say NO
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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...]
Fred Leder
Fred Leder began his career as a factoring consultant (DCFS) in 1995. As a successful broker, he was identified by Sun Capital and was hired in 2000 as a business development officer. Today as the VP of Business Development for Sun Capital Inc and Sun Capital Healthcare, Inc. his responsibilities are to continue to prospect for new business and to interface with and train new (or seasoned) consultants. Fred was a visiting instructor for The American Cash Flow Institute for over 5 years and has lectured at numerous Cash Flow industry conventions discussing everything from marketing techniques to the details of medical and government factoring. Fred has also lectured at medical and financial industry events such as Medtrade, HFMA, … [Read more...]
FactoringInvestor is presenting a FREE Factoring Webinar..
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**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...]
Putting More Green in Your Wallet is as easy as 1-2-3
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Being on the road as a guest speaker and instructor over the past ten years as well as my 22 plus years [boy am I getting old] in the cash flow industry has given me insight … [Read more...]