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Sponsored Agents

Complimentary Training

Factor's Agent: The Sponsored Program for Brokers of Industry Factors

The Factor’s Agent Program , like IACFB’s Sponsored Agent Program offers identical membership access at IACFB and provides basic factoring training (Factoring 101) for for part-time brokers and consultants.  Unlike the IACFB Program, the associated cost of the Factor’s Agent training is completely subsidized by the agent’s sponsoring factor.

Typically, Factors Agents will be home business entrepreneurs active in their community through clubs and organizations and will also often be very active on social media.  Factors Agents will work directly with and submit financing prospects directly to their industry sponsor which will either be an associated factor or a factor’s BDO (Business Development Officer). 

Many Factors Agents are active bloggers and look at the Sponsored Agents Program as simply one of many very lucrative affiliate programs, but one that pays an exceptional residual commission.  

Another popular group entering the Campus e-learning training center through the Sponsored Agents Program is accounting professionals such as bookkeepers, tax preparers, QuickBooks ProAdvisors, CPAs, and others. 

The Factors Agents Program (Factors as Sponsor)

The  Factors Agents Program at is a unique and basically FREE program with sponsorship paid for by your sponsoring factor.  The Factors Agents Program is directed towards part-time referrers and for those individuals just getting started and entering the industry part-time typically due to current job limitations.  Some participants may, however, have the intent of becoming full time freelance consultants in the future.

Factors Agents will typically be home business entrepreneurs active in their community through clubs and organizations and also be very active on social media.  Additionally, this program is perfect for tax preparers, bookkeepers, Quickbooks ProAdvisors, and other accounting professionals seeking to expand their services and better serve their clientele.

Unlike freelance brokers and consultants, Factor’s Agents are strictly “lead generators”.  IACFB Members who are Freelance Brokers and Consultants will both generate leads and then prospect those leads to close deals.  Factor’s Agents generate leads, but the prospecting and deal closing is left to the factor’s BDOs.  Leads generated through networking and social media “qualify” themselves using the Agent’s Landing Page (provided) and Factoring Broker Sponsored Agenteither requesting an offer of additional information or by requesting a conference call with an a factors BDO.  Although they are certainly free to do so, Factors Agents are NOT expected to engage in costly direct marketing campaigns, but will simply develop and refer periodic qualified leads to their sponsoring factor by being active in their community, face-to-face networking, being active on social media, and most often simply being in the right place at the right time and armed with the necessary factoring knowledge provided by the program. 

Features and Program Cost

  • PROGRAM COST:  FREE
  • WEBSITE / LANDING PAGE:  Included but optional
  • HOSTING:  $9.95 per month (optional)
  • DOMAIN:  $14.99 per year (optional)
  • BUSINESS EMAIL:  Included (optional)
  • TRAINING & MARKETING SUPPORT:  Factoring 101 “Lite” e-learning at Campus IACFB
  • COMMISSION RATE:  As paid by your factor

Training and Access

Although the Factors Agents Program is designed to be strictly a program for networking and lead-referrers, agents are provided with a comprehensive selection of classes and lessons chosen from Campus Factoring 101 Training Program.  Standard access to the Campus and Factoring 101 is 30 days.  Those that opt for the marketing package upgrade (website and Factoring 202) have unlimited access.

How Do I Enter This Program?

To enter the Factors Agents Program and training, you simply need need to set up your account through your sponsoring factor’s “Training Profile Page“.  The normal cost for this program is just $99.95.  Once we receive your request form, we will upgrade your permissions to the Campus and notify you via email.  To find a participating factor for this free program, visit the IACFB’s LinkedIn Group

What is Expected From Agents?

Unlike career professional freelance members who will typically work 40+ hour weeks, Sponsored Factor’s Agent members are quite different, simply working when and as often as they like.  Agent members operate as an entry-level, completely flexible home business opportunity that centers 100% around simple lead generation.  In short, everything about the program is about you, as the agent, generating leads and then letting  your factor’s BDO (Business Development Officers) do the rest.  

How to Submit Referrals (Leads)

How to submit leads for follow up. 

  • Leads are submitted directly from the form located on your Agent’s Landing Page which is provided as part of the program.  When a prospective client requests a free booklet or a conference call, the form that is submitted reports the request and sends an email to both you and your factor’s BDO.  

It’s important to remember, as a sponsored agent, you are NOT responsible for selling or “landing the deal”.  That is your BDO’s  job.  You are only responsible for generating the lead through your landing page or through your normal networking or marketing.  In the case that you have a lead you have generated from another source, qualify the lead, have them complete a “Company Profile”, and send it to your factor’s BDO for closing and contracting.

How Member / Agent Commissions Are Paid

Commissions paid on accepted referrals are paid monthly by your sponsor and usually around the second Friday of each calendar month but never later than the 15th.  This depends on the particular factor.  Agent commission rates are most often…

  • 10% – 15% of factoring fees earned or with some form of grid bonuses for consistent productivity from various factors
  • Paid by or before the 15th of the month following the month they were earned.  Payment dates depend on the actual funding source.

Questions & Answers

Training ProvidedYes
Website Landing Page
DifficultyVery Easy
Commissions10% - 15% of Fees Earned

Factors Agent vs. IACFB Agent?

Although this can be a little confusing, there are two Sponsored Agent Programs at IACFB. 

  • Factors Agent:  This is the Sponsored Agents Program where an actual industry factor is your sponsor for training.  It is a completely FREE program where the factor actually pays for your training.  The landing page is OPTIONAL but highly recommended.
  • IACFB Agent:  With this program, IACFB is your sponsor.  The cost of the program is $99.95 and the landing page is included, but required with hosting being just $9.95 per month.  Business email is included.

View more on the Agent options in this post on the IACFB blog.

How do I Sign Up for Factors Agent?

To sign up for Sponsored Agent…

FACTOR as your Sponsor (Free):  Locate a factor (Check out the IACFB Bulletin Boards) that features IACFB Agent training.  You can often locate program factors on IACFB’s LinkedIn Group page.

What Qualifies as a Lead?

As a Sponsored Agent, we define a “lead” as…

  • any business owner that you have spoken with within the past 48 hours and has expressed an interest in finding out more regarding factoring…or…
  • any business owner that has completed the form on your optional Sponsored Agent Website / Landing Page and requested…A copy of our publication “When Banks Say No!  The Small Business Guide to Factoring” …or…a has requested a call from one of your factor’s BDOs.

Once you have submitted a lead for follow up or that lead is received from the automated form on your landing page, your factor’s BDO handles the rest.

How Much Paperwork Will I Have?

Other than endorsing the back of your commission checks each month (once you begin earning them) you have no paperwork under this program.  Your Landing Page does all the paperwork for you or occasionally you may send an email to your BDO with a completed Company Profile for him / her to contact and follow up on.

What Should My Domain Name Be?

If you opt for landing page under this program (highly recommended), you will need to purchase a domain for that landing page through DataMax.  In choosing a domain, just make sure it’s not “gimmicky”.  We discuss domains and domain selection in this article.

 

Where Can I View the Landing Pages?

The new Sponsored Agent Landing Pages are WordPress and include an Elementor drag and drop editor which gives you full control over the look of the website.

You can view the templates here.