Successful factoring brokers and ISOs who understand the importance of prequalification and the deal submission process for invoice factoring get more deals approved faster and with fewer problems. They develop a strong working relationship with the factoring companies they deal with and build a solid,...
The recent bank failures, finance regulations, and an ever-changing economic climate are impacting lending practices all across the country. Lending from U.S. banks and other traditional financial institutions has contracted significantly indicating a tightening of lending standards. This has resulted in more bank turn-downs and...
If you are a Financial Broker or ISO, you may have encountered some business owners who are uncomfortable with the idea of factoring their invoices. Helping prospective clients better understand the concept and clearing up misconceptions is important to help them decide if factoring is...
The U.S. engineering and construction (E&C) industry had strong results in 2021, with construction spending growing by 8%. Robust construction spending carried over into 2022 and was bolstered by passage of the Infrastructure Investment and Jobs Act and the CHIPS and Science Act (CSA) of...
If you have a client that is a minority-owned small business, you may have learned the hard way that equal opportunity may not always apply to ease of access for business funding options. Minority-owned small businesses, also known as Minority Business Enterprises (MBEs), grew by...
A key component of being a successful financial broker or independent sales office (“ISO”) is understanding the process that prospective clients go through once you identify and refer a client to a factoring company. The process, known as due diligence, is key in qualifying a client...
If you are a financial broker or ISO, fintech has undoubtedly shaped your brokerage’s business practices as more financial service providers incorporate new technologies to alter how they interact with clients as well as originate and fund transactions. In this article, we’ll discuss what fintech is,...
In the aftermath of major earthquakes, hurricanes, and wildfires, the recovery process generally requires a well-coordinated response and partnership between insurers, governmental agencies, aid organizations, financial institutions, service providers, and businesses to help the people and businesses affected rebuild their homes, businesses, and lives. The...
Small and medium-sized businesses will often face cash flow and working capital problems at one point or another. For financial brokers or ISOs looking to help clients manage these issues, there is no one size fits all approach. The right type of business funding will...
The global factoring market is a trillion-dollar industry critical in providing businesses with alternative financial solutions. With entrepreneurship becoming increasingly popular and people wanting to be their own boss, many professionals find the opportunity for a career and success by becoming a broker within this...