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Crash Course Part 4

Factoring Broker / Referrer

Starting Out as an IACFB Referrer / Sponsored Agent

By far, the most popular program at IACFB is Sponsored Agent which is a no-cost entry-level way of “getting your feet wet” in the industry.  The Sponsored Agents Program is FREE and provides a method of sending referrals directly to IACFB Account Executives who follow up on your leads and close deals if possible.  Sponsored Agents at IACFB receive standard industry commissions of 10% of factoring fees earned for the life-of-the-account just as if they closed and packaged the deal themselves.

Sponsored Agents enjoy basic factoring training slightly scaled down from IACFB’s Factoring 101 as well as the option to have a lead-generating factoring broker WordPress landing page complete with blog and lead-gathering offers.   

Become a Sponsored Agent

Questions & Answers

Where Do I Submit a Referral as a Sponsored Agent?

As an IACFB Sponsored Agent, you can submit a referral…

  • By completing the form on your Sponsored Agent landing Page (if you opted for it)
  • By completing the drop down form in the Sponsored Agent Training / Support Area

How Do I know If My Referral Received Funding?

As an IACFB Sponsored Agent, we keep you “in-the-loop” throughout the underwriting process.  You can even be on the conference calls with the prospect if you choose.

What is the Cost of Becoming an IACFB Sponsored Agent?

There is no cost to become an agent not is there any cost for agent training.  If you choose to set up an agent website / landing page, there is a setup fee of $99.95 plus monthly hosting.  The $99.95 setup fee is reimbursable upon the funding of your first referral.

Starting Out as an IACFB Referrer (Sponsored Agent)

To simply classify industry consultants as “Factoring Brokers” is a bit of a misnomer as there are many types of factoring brokers and the difference between them is often simply whether they are:

  • Full Time or Part Time?:  Are your intentions to become a full time consultant or are you adding the ability to assist small business owners source capital as part of your current career or vocation.  (such as a tax preparer, Quickbooks ProAdvisor, or Cash Flow / Note Broker?
  • Professionally Oriented or Simply Referrers?:  Is this a career path for you or simply an occasional opportunity for supplemental income?
Starting as an IACFB Sponsored Agent / Referrer and Then ExpandingSponsored Agent Factoring Broker

While some that discover how lucrative brokering factoring referrals can be decide to jump in with both feet on a full time, career-oriented basis, many take a more conservative part-time path and simply enter the industry with the intent of building the business slowly over time and on a part-time basis as an industry “referrer”.  Electing this path could not be easier due to the significant support available through IACFB.  And, if you question the amount of money to be made as a referrer, just take a quick glance at the story of Martha.

What You Will Need to Launch a Factoring Business as a Sponsored Agent / Referrer

Actually, once you have completed this short 7-part course, you will have the basic knowledge required to begin earning the residual, life-of-account commission income that has made the factoring industry famous.  You physically need nothing else to refer a prospect through IACFB Wholesale.  If you intend to actually start a home business as a freelance consultant, however, you will need the additional training provided by IACFB’s Special Training Area for Sponsored Agents.

IACFB’s Broker Training:  E-Learning at IACFB

Although the  wealth of information found on Commercial Finance Consultant Magazine will give you all of the basic knowledge you need to actually refer your first deal, we do highly recommend subscribing to IACFB’s FREE Sponsored Agent Support Area due it’s in-depth training as well as the access to IACFB’s Broker Learning Lab and Factoring Broker Forums at IACFB which are included.  If you have an interest in actually starting a home-based business as a factoring broker, we assure you the training at Campus IACFB is worth every nickel you will spend.

Professional Website / Landing Page (Optional)

For referrers, a business website will be optional although it is highly recommended if you are actually going to engage in some form or marketing.  Marketing will require that you have lead-generating “free offers” such as a free booklet or case study and the most productive and affordable method of doing that will be through a business landing page / website which is included with your Sponsored Agent Website subscription.  (View Templates)

Business Cards (Optional)

Business cards are powerful marketing tools but are only necessary if you are going to operate a business website along with a business email.  Business cards without the ability to direct prospects to a website where they can obtain additional information such as a booklet or case study have little or no value.