Constructing a Database of Lenders is an important task for all those new to the industry and if fulfills three important functions. It…
To assist you in building your database, all Factoring 101 subscribers have access to IACFB’s lenders directory, The Directory of American Factors and Lenders with links to the websites of over 500 lenders. You can access this directory by clicking the button below.
Constructing your own lenders database is an essential part of your consulting business as it will provide you with an up to date personal directory that will not only greatly assist you in deal placement when the time comes but also contributes significantly to your understanding of the industry and it’s products. Every factor’s and commercial lender’s website offers a wealth of information about the products and services they offer and many will also provide a look at the specific industries the commonly finance…a great resource for you, as a broker, when exploring new industries to direct your marketing efforts. At IACFB, we cannot overemphasize the training and learning value of visiting the various lender’s websites and constructing this database. It is without question, one of the most important early tasks you need to perform in order to become successful in this unique area of freelance consulting.
As a starting point for constructing your database, you can use the IACFB’s Directory of American Factors and Lenders which provides links to the websites of over 500 sources of factoring and alternative commercial finance. The IACFB lenders directories can be accessed using the Blue Button located above this article. Though a good reference in it’s own right, this directory is limited in it’s usefulness when actually searching for a specific lender for difficult deals.
When constructing your database of industry lenders, you will need a CRM (Customer Relationship Manager) to not only house the data but to also record it in such a way that you can easily search it for a specific type of lender when the need arises. There is no way to effectively do this without the assistance of a CRM and we show you exactly how to construct your Lenders Database in the Pipedrive instruction section on “organizations”.
When visiting the website’s of the various lenders, you will want to gather data regarding…
When gathering your information from the site and entering it in your CRM, make certain you also register with the factor / lender as a broker and if it is offered, subscribe to their newsletter. When doing this, use a domain-related business email address that you have specifically set up for this purpose such as “subscriptions@”. When entering the Factoring 101 course, IACFB staff automatically set up this email box for you.