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IACFB Freelance Consultant

Factoring Brokers Meeting

IACFB Freelance Factoring Consultant Program

The IACFB Freelance Factoring Consultant Program is designed for those individuals seeking to develop a full time career as an independent freelance broker in the factoring and alternative commercial finance industries.  This expansive cornerstone training program provides students with comprehensive in-depth knowledge regarding factoring and the many additional alternative commercial business finance product areas commonly represented by freelance consultants as well as an expansive productivity course to assist new brokers in getting started in the industry, the “right way”.  While the IACFB’s SBF Sponsored Agent Program is directed towards almost anyone seeking just a part-time participation in the industry and earning the “occasional” commission to augment the income from a current profession, the Freelance Factoring Consultant Program is for those in search of a highly professional career that can ultimately replace their current job and provide a level of income well into the six-figure range. 

The IACFB Freelance Factoring Consultant Program

The IACFB Freelance Factoring Consultant Program is for those individuals seeking to enter the factoring and alternative commercial finance industry with the intent of establishing a career on a full time basis.  Like our SBF Sponsored Agents and Factoring Brokers, Freelance Commercial Finance Consultants with typically operate from the convenience of a home office but will be much more active in using direct marketing tools in their business development efforts and also be more active in face-to-face networking.  Freelance Commercial Finance Consultants will also represent many additional financial products (Cash Flow Products, Structured Settlement Cash Outs, Private Mortgage Notes, etc.) to consumer products other than simply invoice factoring and commercial finance solutions.

Unlike IACFB’s Sponsored Agents, Commercial Finance Consultants will work directly with industry factors and their business development officers and will not typically co-broker their deals, but will earn 100% of the commissions through their direct relationships with factors and other alternative commercial finance lenders.  Commercial Finance Consultants will, however, will utilize factoring Factoring 202 to typically develop their own “sponsored agents program” that will be used to produce leads. 

Features and How to Subscribe

  • SPONSOR:  None required
  • WEBSITE:  Available as WordPress websites  (see samples)
  • WEBSITE HOSTING:  DataMax Platinum Plan
  • PRODUCT TRAINING:  Comprehensive product training including
    • Commercial Factoring
    • Asset-Based Lending
    • SBA Lending
    • Import-Export Trade Finance
    • Forfaiting
    • Equipment Finance
    • Cash Flow Consultant Products (mortgage notes, structured settlements, inheritance advances, etc.)
  • CERTIFICATION:  Certification Program (Provided)
  • COMMISSION RATE:  100% of broker commission as defined by factor

How to Enter This Program

To enter this program, simply “subscribe to the Platinum Hosting Plan at DataMax”.  Ad-On the Commercial Finance Consulting (Factoring 101, 202, 303) training program at IACFB. .

Subscribe to the Freelance Program

Questions & Answers

What is the cost of the Certification Program?

The CFC Certification Exam is complimentary.

How many factors and lenders are in the Lenders Directory?

There are roughly 500 factors and lenders in the directory.  All Freelance subscribers have access to the directory.

How long does my Campus access last?

Your Campus IACFB access lasts so long as your website monthly subscription is current. 

NOTE:  If your monthly subscription lapses and is more than 30 days late, you will need to re-register to the program to again gain access.

What is Pipedrive?

Pipedrive is IACFB’s Contact Relationship Manager of choice.  While a Pipedrive subscription isn’t mandatory, you will find that you will have a difficult time managing your business without it.  In Factoring 202, you will find a link for a FREE 30 day trial of Pipedrive.  The regular subscription cost is about $25 per month. 

Does the Freelance Broker Website FB-Series and the CFB-Series Include a Blog?

Yes, all of the sites include a free WordPress blog.  Additionally, the new WordPress websites with Elementor Drag and Drop website editing tools will be available by March 1st, 2021

What is the Most Difficult Part of this program?

Most will find the product training to be rather straight forward and easy to catch on to.  The most difficult part of successfully entering the industry will naturally be developing marketing and networking skills. We provide a lot of articles on marketing for our brokers in Factoring 202 and the Magazine (Commercial Finance Consultants.com) 

Is there a lot of competition in the industry?

The business of being a freelance independent broker in the factoring industry is still under-the-radar in the United States.  The occupation is better known in Europe.

What is a realistic expectation of earning in the industry?

All factors have one or more Business Development Officers (BDOs) that work for the firm sourcing new clients and a typical industry BDO earns $100,000 – $150,000 with a combination of salary and commission.  As an independent in the industry, you will obviously not enjoy the salary but you receive a much higher commission rate.  A successful industry broker should target similar earnings to BDOs since you do exactly the same job.

Can I get sales aids such as mailers, postcards, etc.?

Yes, the Business-in-a-Box Marketing / Productivity support material area (Factoring 202) has templates for brochures, flyers, postcards, mail stuffers, telephone scripts and much more.  They are included and located in Campus IACFB.