By now, you should be well aware of the exceptional income potential that is easily attainable as a successful factoring broker. In fact, from the standpoint of costs vs. potential for revenue, there is almost no home-business venture that can compare with investing the time and minor costs involved with learning how to make business referrals to factors and other alternative commercial lenders and earn residual, life of account commissions. And although costs are low for full time freelance consultants, those entering the Agents Program at IACFB have costs so minimal, as to make them almost zero. In fact, once you generate your first funded deal of any size, they are ZERO.
By design, the SA Program at IACFB is designed to be a low cost / no cost program in which virtually anyone can participate. For some, it is simply a first step in becoming a career professional in the industry and working full time. For others, SA is the goal. It is simply another source of income that augments the income from a current career they are happy with. Either way, the SA Program fills a niche for almost everyone.
You will need….
Depending on your locality, you will likely need some sort of business license to be completely legal. All in all, if you choose the optional marketing package with website / landing page, you can likely be in business and seeking your first business accounts to refer for about $150-$200.
If your SA sponsor is IACFB, upon submission, acceptance, and funding of your first deal….
NOTE: The above reimbursements are only pertinent to deals referred through IACFB. If your sponsor is a factor, they must be paid through that factor, although few would not agree to.
Comparing the associated costs of operating as a Sponsored Agent vs. the potential revenue that can be earned is, in fact, almost nonsensical. Considering that even a “smallish” account you might refer, such as an average janitorial service, can easily factor $50,000 – $100,000 in invoices each month and generate $3,000 in fees ($300 to you in monthly commissions or $3,600 per year, you can begin to see the potential this business holds. And that is for a single account! Where will you be if you successfully refer one (1) small business owner for factoring per month? With your operating expenses now at zero, you begin to see just how lucrative this business can be even for those with the most occasional industry participation in mind.