US exports are on the rise leading to increased opportunities for international factoring companies and brokers. In January 2011 exports set a record 167.7 billion up 16% from a year ago and beating the prior high of 165.7 billion in July 2008, according to … [Read more...]
Should You Make Invoice Factoring Offers Via Email?
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In an age where birthday wishes seem limited to a Facebook Wall post and asking someone out on a date is abbreviated to accommodate Twitter’s 160 character limit, it leads us to ask: Are we getting too impersonal when it comes to making offers or negotiation? … [Read more...]
Factoring Broker Training – Don’t Make These 3 Mistakes!
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Want to earn referral fees as a factoring broker working full or part-time? Be sure to avoid these three common mistakes when seeking prospective clients in need of accounts receivable financing. … [Read more...]
A Word of Caution for Factoring Brokers
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A word of “Caution” - don't get stuck with your head in the sand! I promised to share a special note of caution. That message begins with telling you 1 in 3 Americans are obese and nine in 10 Americans say … [Read more...]
Invoice Factoring News – Transportation Factoring
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There’s a long road ahead for transportation factoring. Two industry developments have caused companies to navigate obstacles and detours placed in the path of freight bill financing. … [Read more...]
Factoring Training for Small Business Funding
Working with small businesses receivables is a specialized segment of the factoring industry. It's also lucrative! Less competition from the large factoring companies can equal more opportunity. Just ask Jeff Callender, founder of Dash Point Financial Services. He went from start-up cash flow broker to small business factoring funder in just a few short years. Jeff generously shares his tips for success gained from real life experience. In addition to his acclaimed Small Factors Book series, he provides workshop instruction at factoring trainings and association meetings. Here's a look at an upcoming workshop designed especially for small business factoring. International Factoring Association Presents: Small Factors … [Read more...]
Could You Tell a Client They Don’t Need Factoring Help?
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I witnessed an odd exchange of dialogue the other day on the Internet. It would have been humorous except neither of the cash flow consultants came to the right decision – over a long period of opportunity. The “Dilemma” The exchange started with a simple post from a factoring broker that had a “dilemma” with a new soon-to-be client. In going over the client’s information, the consultant discovered that the client really did not need factoring help. He had two other alternatives that were clearly better choices for the client , with no additional risk. The consultant was concerned how he was going to keep is his client focused on factoring so he could get the deal. “Any feedback would be helpful.” Enter the “Expert” The … [Read more...]
Construction Factoring Dips Along With the Construction Industry
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Very few companies are financing businesses in the construction industry today as the industry risk is still too great. Many general contractors and subcontractors are reeling from the effects of the building bubble. And to add insult to injury, many construction companies who obtained a business loan will probably, or already have found themselves out of covenant. This is due to falling sales. Simply put, banks won't let them tap into their lines of credit until their sales are back on track. What's more, even in the factoring industry, few companies dare to offer construction factoring since the risks of default are still high. However, in many cases a factoring company will be able to help. There are quite a number of firms … [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...]