Today's credit-impaired economy is challenging virtually all small and mid-size business entrepreneurs. Banks are not lending in spite of massive bailouts and Fed action. For job seekers, "true" U-6 unemployment remains at over 10%, and jobs (real jobs) paying a true living wage continue to be difficult, if not impossible, to find. Many have opted to go back to school only to find themselves deeply in debt with a college degree not worth the paper it's written on. Maybe it's time to rethink your future and leave the "ball and chain" employee mentality behind. Maybe it's time to consider a new career...a career in factoring and alternative commercial finance!
For today's self-starters and mobile creatives, few opportunities can compare with commercial finance consulting or, as its more commonly referred to, working as an industry factoring broker. This freelance consulting career path is one that is primarily home-based and offers practitioners the flexibility to work either part-time or full-time using a variety of marketing methods to generate leads for America's factors and other alternative commercial finance providers. It is a highly professional career that provides exceptional rewards for those equipped with or willing to develop the necessary skills to embrace it.
One of the most common cash flow problems for small business entrepreneurs is working capital shortages caused by the granting of liberal payment terms (30 days or longer) on invoices for services performed or goods delivered. Payroll intensive service sector companies such as janitorial and maintenance companies, guard services, staffing companies, lawn care and landscaping businesses, and others are particularly hard hit when their customers take 45 days or longer to remit payments.
Factoring is the most powerful financial tool available to solve the problems of payroll caused by granting terms of payment to customers. With a factoring arrangement in place, a business receives immediate cash for its invoices while its customers still enjoy liberal payment terms of 30 days or longer. Most importantly, factoring is generally accessible to even the newest companies, even those with little or no credit history.
Factoring Brokers, are independent freelance consultants that work closely with small business owners and assist them in finding the right factor or loan provider when additional growth or working capital is needed. In fact, one of the most common sources of new account referral to industry factors is from the growing community of freelance industry factoring brokers or Commercial Finance Consultants.
In spite of its income potential and prestige, the business of brokering factoring transactions and a career as a commercial finance consultant remains well under-the-radar as a career path. In fact, few career seekers even know of its existence. And while you can visit virtually any factor's or commercial finance lender's website and find that they actively solicit broker referrals, obtaining the necessary training to enter the industry has been traditionally both difficult to locate and expensive to access once found, often costing $10,000 or more.
For self-starters and those career-seeking entrepreneurs willing to invest the time to learn the necessary skills required, however, the IACFB (International Association of Commercial Finance Brokers) offers an exceptional 200 page training guide and career study course called the Factoring 101 Program for just $39.95 plus shipping. Purchase of this comprehensive training manual also includes additional online study materials at the Factoring 101 Learning Lab and access to the IACFB's American Directory of Factors and Lenders with over 500 broker-friendly sources of financing.
For those ready to launch the business immediately, IACFB offers its unique Factoring Broker "Business-in-a-Box" Program which includes a professionally designed factoring broker website, marketing support materials such as brochure and flyer templates, and much, much more.
To further explore the industry and its many opportunities, the 2016 Factoring 101 Training Guide is now available from Amazon.com for just $39.95 plus shipping. Additional information can be found on the IACFB website at www.iacfb.org as well at the Factoring Broker Forums and www.commercialfinanceconsultants.com.