Ongoing Due Diligence Ensures Healthy Factoring Relationships

Every business that extends credit to its clients understands the importance of due diligence. Just as most people would not blindly hand over a stack of cash to a stranger on the street, factoring companies do not begin purchasing invoices from clients whose businesses they do not understand. Once the client relationship is established, it is easy to become comfortable with the routine of purchases and collections and ignore due diligence entirely. This complacence can prove disastrous for the client relationship. Tax issues, debtor concerns, and client malfeasance can all fly under the radar until the situation requires a more serious (often legal) response. Fortunately for factors, a variety of services exist to make the process … [Read more...]

Top 10 Accounts Receivable Factoring Questions

What are the 10 most common questions presented by a business considering accounts receivable factoring?  More importantly, how should you address them? If you have to convince a prospect that he/she needs invoice factoring, or your prospect is picking apart everything you are presenting, you are wasting your time. It’s as simple as “the business either needs accelerated cash flow or it doesn’t.” Therefore a true prospect will not be adversarial in dealing with you, but there will be genuine questions and concerns about the process. That is fair and highly predictable. Accordingly you must prepare to educate your prospect and anticipate the very predictable questions. 10 Questions Likely to Come Up In Your Next Factoring … [Read more...]

How I Run My One Person Factoring Business

Have you wondered what it takes to run a small factoring operation by yourself or with just a family member? What do you need for day-to-day operations in terms of equipment, technology, documentation, and know-how? Factoring receivables can be a lucrative business with high returns, but you need to know how to manage the business with minimal overhead. Overseeing employees adds significant additional costs and responsibilities. This informative ebook is written in the first-person by Jeff Callender, a well-respected small ticket factor who has been in the business since the mid-90s. Jeff shows simply and clearly how he has run his company year after year with no employees. Discover how his use of current technology, … [Read more...]

Marketing Ideas for Factoring Brokers – Book Review

Do you ever wish someone would hand you a blue print for finding business? If you are like most factoring brokers you may wonder: “Which marketing methods are most effective?” “Which are a waste of time and money?” … [Read more...]

Small Business Financing: Where To Go When Banks Say No?

Lending to small business was down a whopping 12.5 billion or 4.6% for the 7 months ending in November.  That sobering news comes from the Treasury Department's tracking of the 22 largest banks receiving bailout money. Of course these stats are no surprise to business owners.  Rebuffed by banks, they increasingly turn to factoring and purchase order financing for cash flow needs. The New York Times recently … [Read more...]

Factoring Conference and Workshop Schedule

Searching for training and networking in the accounts receivable factoring industry?  The International Factoring Association (IFA) has announced their conference and training courses for 2010. These training courses provide factoring brokers, funders, and investors opportunities for ongoing education and networking in the world of invoice factoring. Mark your calendars for these upcoming events: … [Read more...]

Handling Customer Questions About Factoring Invoices

Many companies that start using factoring often have questions regarding their customers. How will they be treated? What if they pay me directly? What do I tell them? Here are some common questions and helpful answers. … [Read more...]

Factoring FAQs

Ok, you are considering factoring and you are busy. You are not looking to read volumes of factoring manuals or sit through a weekend seminar. You just want the 60 second big picture overview. Well, this article is for you! … [Read more...]

Don’t Factor Your Receivables When.

Small business owners are no strangers to watching every dollar. When a customer is late to pay an invoice the business feels it. This leaves many owners losing sleep and making … [Read more...]