Welcome to Factoring! The business opportunity you are exploring, that of factoring broker, is an exceptional career path by any measure. Whether your ultimate goal in visiting IACFB is to enter the industry as a full time freelance career professional or you are simply seeking to expand your industry knowledge to supplement the income from a current profession, you will find the factoring and alternative commercial finance industries offer a unique opportunity to earn an exceptional income while also enjoying a high degree of prestige and vocational respectability. For all who successfully enter, it is a career which can be both personally and financially rewarding.
Accounts receivable factoring and the many other products termed “alternative commercial finance” are popular and powerful business finance resources utilized throughout the world by capital-seeking entrepreneurs. Those making the decision to enter the world of the entrepreneur and start their own enterprise are faced with many challenges and hurdles. Most new business operators initially struggle to accumulate the seed capital to buy equipment, inventory, and finally open their doors, only to then find themselves faced with an even greater challenge, the need for ready working capital once the business becomes operational. Historically, such working capital has been provided through community banks. But as everyone in business today is well aware, banks simply aren’t lending to early stage business owners and that is a statistic which is very unlikely to change in the foreseeable future.
Successfully entering the factoring industry as a freelance independent consultant or “factoring broker” means you will be performing a valuable financial service to small and mid-size business owners by assisting with the “sourcing” of ready financial alternatives to traditional bank loans and lines of credit. Factoring industry brokers are true financial consultants in every sense of the word. They earn attractive fee and commission income based upon their in-depth knowledge and understanding of the various forms of factoring and alternative types of commercial finance which can be brought to bear to solve a particular capital problem affecting a small business. And just as important, they have developed the important marketing skills to convey that knowledge to small business entrepreneurs in need.
Entering the factoring industry as a freelance factoring broker represents an exceptional business opportunity and career path for those individuals who can describe themselves as entrepreneurial self-starters or mobile creatives. Though a well-practiced vocation in Europe and many other areas, this unique area of consulting continues to remain well under-the-radar in the U.S. It is a very specialized area in small business finance and for the most part, you will find competition to be very light in most communities, if it exists at all.
Do not, however, look at this opportunity as the latest highly promoted get rich quick scheme. Many do, only to find that this unique area of consulting, like almost all others, will take much hard work, patience, and determination for success.
It is very true that the fee and commission compensation paid to industry freelance brokers by factors and related lenders for referrals is extraordinary by any measure. Commissions are most often residual in nature and paid for the life-of-the-account. This often leads to income streams that can be collected by consultants for many years after a referral, but to participate in this industry and earn such compensation, you will need to acquire a reasonably high level of product knowledge and probably also develop certain necessary marketing and networking skills. As you may already be aware, however, locating sources of truly affordable training for this career path has been historically difficult and often quite expensive. But, that has changed. Factoring broker product training at IACFB, along with it’s related online marketing support areas, is designed to provide you with all the comprehensive industry knowledge you will require to enter this unique vocation and exceptional area of specialized consulting both successfully and profitably at a truly minimal cost.