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Submit a Deal to IACFB

Submit a Deal:  Start Earning Residual Commission Income Today!

As we have said many times before, almost anyone can benefit from learning about factoring and earn lucrative commissions even if they do not intend to actually pursue the business on a professional basis.  And sometimes, it’s best to just jump in with both feet rather than testing the water.

Do you know of a small business in need of working capital that provides goods or services to other businesses on a B2B basis and invoices with 30 day terms or longer?  Sooner or later, almost everyone will meet someone who does and the opportunity to earn exceptional commissions for a referral will be present.  Never let such opportunities pass you by.  Learn how to refer a small business in need of factoring to IACFB.

Deal Submission Guidelines

Minimal Requirements for Referral

To refer a business for prospective financing, we only require that you have spoken with the owner of the business and that the owner will be expecting a call from an IACFB account executive.

Full Business Name and Address

On the “Quick Submission Form”, you will need to provide us with the full name of the business and it’s address including street, city, state, and zip code.

Owner's Name and Contact Information

Once you refer your lead, IACFB staff will follow up within 24 hours.  To do so, we will need the name of the business owner and the business phone and, if possible, a personal cell phone.

Invoices Currently Open

As you know, factoring finance is only available to businesses that provide goods and services to other businesses on a B2B basis and then invoice for those goods and services.  If possible, ask the owner for an estimate of the amount of invoices currently open (outstanding).  This amount should be $25,000 or more.

Other Financing in Place

Ask your prospect if he/she is currently financing with other lenders such as a bank.  To establish a factoring arrangement, a factor must be able to secure a senior lien position on accounts receivable.  If the client has a current bank loan outstanding, it is likely the bank will already have a lien on accounts.

Download Your Co-Broker's Agreement

You will need to submit a Standard Co-Broker’s Agreement with each referral submission.  Down load your agreement by clicking the button below.  

NOTE:  This is the standard agreement for Campus guests.  If you are an IACFB Sponsored Agent (S/A) or a member of either Freelance Training Program, download your agreement from your access area in the Campus.

Complete the Deal Submission "Quick Form"

Complete the Deal Submission Quick Form by clicking the button below.  Once received, we will attempt to contact your lead / referral within 24 hours and email you with the results.

Submitting Your First Deal Through IACFB Wholesale

Being a factoring consultant means you need to acquire a broad base of knowledge regarding your product areas.  Textbook definitions of financing terms are great but as you begin to develop leads and prospects, the inevitable “How does it work?” question will be asked a thousand times.  So, in order to answer confidently, you need to know a little more about factoring as a product, how you submit business to a factor as a broker, Factoring Broker Earning Residual Commissions at IACFBhow your submission is underwritten, and how the subsequent daily operations necessary to provide your client with factoring services work.  All of which you will learn as a subscriber to IACFB’s Factoring 101 e-learning course. 

For those with a more “minimal” business operation in mind and wanting a more “mentored” business model when first starting out, some great news is that submitting a prospective client for factoring and earning residual commissions almost could not be simpler using IACFB’s Wholesale Operations.  In fact, as a Wholesale Operations “referrer”, IACFB staff does most of the work for you.  

How to Submit a Deal to IACFB Wholesale

Submitting a referral (deal) to IACFB Wholesale is much different than a standard submission.  In fact, when submitting to IACFB Wholesale, you basically are only submitting…

  • The name of the business
  • The owners name
  • Phone number
  • Your name (as co-broker of record)

Once we receive your submission, we will log the deal in and email your Co-broker’s Agreement for signature.  Once your agreement is received, we will…

  • Contact your referral via phone
  • Qualify the business for factoring
  • Answer any questions or concerns he/she may have
  • Get a Company Profile completed
  • Perform a UCC check on the prospect’s business 

If the deal appears clean, we will…

  • Submit the deal to an appropriate funding source
  • Set up a conference call between the prospect and underwriting department
  • Stay in the loop throughout the underwriting process

Submission Guidelines and Requirements

Guidelines and Requirements to submit a deal to IACFB Wholesale are very simple.  Prospects you submit MUST be bona fide business prospects for factoring and you must have spoken with them prior to our call.

  • You must have spoken to the prospect within the last 72 hours and prepped him/her regarding our follow up call
  • The business must be operating B2B (invoicing for services)
  • The business must be invoicing (billing customers) at least $25,000 per month

Commission

As the submitting “Broker of Record”, you will receive the follow commission rate.  All commissions are paid on a residual basis and for life-of-account.

  • Registered Guest  (Co-Broker 50% – 50% commission split)
  • IACFB Members:  Sponsored Agent or Freelance Factoring Broker / CFC  (10% of factoring fees earned)

FREE Factoring 101 Training

Submitting your first deals through IACFB Wholesale is the perfect way to get your foot in the door as a new broker since our account executives will be basically landing and closing your deal for you.  You will have no paperwork and will not be responsible for any follow up.  Additionally, if your lead is approved for factoring and funded, you will receive…

  • FREE access to Advance Freelance Factoring training through Campus IACFB
  • FREE factoring broker website through DataMax
  • FREE website domain
  • FREE website hosting

You will receive all of the above for as long as your referred account is active and factoring fees are being collected.