Although invoice factoring has become a bit more apparent in business finance today, misunderstandings, fears and objections are still quite common. Being prepared to hear and address objections or questions is the most professional approach to these encounters. Fortunately, the issues discussed herein are the most common concerns expressed by prospects and from my experience in both commercial and healthcare factoring will arise in almost all presentations or conference calls. … [Read more...]
Factoring 101: Don’t Make It Difficult
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One thing I love about the factoring industry is that once we remove all the layers of speculation, it really is a straight forward business. People new to the industry, both brokers and companies thinking about using factoring services, have an uncanny ability of making things more difficult than need be. Terms like “hold back,” “reserves,” “advance rate,” and “points” can put people on edge. Add to the fact that just about everyone tries to compare "factoring vs. bank loans" and it is no wonder … [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...]
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...]
How to Factor Invoices on Small Margins
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You probably have heard the many benefits of factoring receivables but may have thought it's only viable for those companies with large profit margins. Well, you might be surprised to know that many companies with small profit margins are benefiting from factoring also. For example let us say that you are only making a 3% profit on your product and the factoring fee is also 3%. … [Read more...]
How I Run My One Person Factoring Business
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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...]
Why Use Spot Factoring?
Spot factoring lets a business raise working capital by receiving an advance on just a single outstanding invoice. Here are 3 reasons it is effective to offer spot factoring to clients, as shared by Steve Ontiveros of Resource Business Partners, Inc. … [Read more...]
Handling Customer Questions About Factoring Invoices
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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
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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...]
What’s the Difference Between Factoring and Asset Based Lending?
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Companies in need of creative working capital solutions often consider both Asset Based Lending and Factoring. This leaves many businesses to wonder, "What's the difference? Is it really apples and oranges?" … [Read more...]