Factoring Brokers

How to Become a Factoring Broker

There’s a little substitute for earning extra cash operating a home-based enterprise with completely flexible hours, even on a part-time basis. Being your boss and having the freedom to work when you want is possible. That is precisely how being a “Factoring Broker” works. You can make money right from your home (or office for that matter), by merely referring qualified businesses that need extra short-term funding. Moreover, what companies do not need more funding? You do not even have to be an expert in corporate finance. You can pursue this by yourself. Better yet, team up with others to

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Factoring Broker Business Opportunity

Factoring Broker Referral Programs For over 25 years, our goal at Paragon has been to give brokers the business opportunity and tools to grow your intermediary financial business and to help entrepreneurs in your community. If you refer a deal to us, we pay a factoring broker commission for the life of the account. All you have to do is give us a name and a number. If we close the deal, you get the commissions. Imagine getting a check in the mail every month for a simple referral!  It can be an ongoing salary! Our sweet spot is companies

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Is a Merchant Cash Advance Bubble Coming?

We all know small business bank loans have dried up and are extremely difficult to obtain since the Great Recession of 2008. Small business has become increasingly desperate to find short-term cash-flow solutions. Because of their ease of getting and losing credit requirements, Merchant Cash Advance (MCA) & ACH lenders have stepped in and have filled the demand. Merchant Cash Advance (MCA) & ACH Lenders These types of loans have been very profitable for lenders. Wall Street has funneled billions of dollars into the products because of high yields in a low yield environment. As a result, new merchant cash

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Factoring Brokers: Unique Selling Propositions

What is a Unique Selling Proposition (USP)? A USP is how you as a factoring broker, differentiate yourself from your competition. We are sure you have your own USP to help your company stand out and close more deals. Here is Paragon’s Unique Selling Proposition, which we hope you can utilize within your sphere of influence. What is Paragon’s Unique Selling Proposition? 1. We credit protect you Why is this important and how does it separate Paragon from other AR factoring companies? Less than 20% of invoice factoring companies utilize credit insurance. Why so few? It is expensive and many invoice factors do

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Factoring Broker School Webinar

Want to learn how to become a factoring broker or financial intermediary or perhaps you would like to sharpen your skills?   Come join us this Friday the 20th of June for a hard-hitting, information packed webinar on how to get and close more factoring deals. Learn about PO Funding, Invoice Factoring and how to differentiate yourself with credit protection, funding tax issues and much more. CLICK HERE FOR MORE INFORMATION AND TO REGISTER Topics covered include: Networking with referral sources How to generate leads through your own website How to quickly size up a deal and place it at

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Key Success Factors (KSF) For Factoring Brokers

Every industry has Key Success Factors (KSF). No matter what business and industry you are in, it is essential, you know what these Key Success Factors are. What is the Key Success Factor or KSF? A KSF is an element of a whole that affects your business’ ability to do well in your market. As a financial intermediary or factoring broker, you must understand your prospects Key Success Factors. Also, each industry has its nomenclature. By showing you know their KSF and industry jargon, you will cement the potential relationship with the prospect. What is an example of a Key

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The Alternative to the Golden Rule is the Platinum Rule

We have all heard of the Golden Rule – and many people aspire to live by it. The Golden Rule is not a panacea. Think about it: “Do unto others as you would have them do unto you.” The Golden Rule implies the basic assumption that other people would like to be treated the way that you would like to be treated. The alternative to the Golden Rule is the Platinum Rule: “Treat others the way they want to be treated.” Ah Hah! What a difference. The Platinum Rule accommodates the feelings of others. The focus of relationships shifts from “this is

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Cable Industry Growth Opportunities and Funding

Invoice Factoring Referral Programs for the Cable Industry Cable industry growth is one of the bright spots of the U.S. economy. A good example is Time Warner Cable, who reported a Q1 2014 earnings jump of 20%. Revenues grew by 2% to $5.6 billion, led by 11% revenue growth in broadband. The company added 269,000 broadband subscribers, the most since the first quarter of 2008. This type of growth creates an opportunity for factoring brokers and financial intermediaries in the cable/telecom industry. Sharing with your banker’s, CPA’s, attorney’s, and other referral sources Paragon Financial’s deep expertise in cable/telecom can funnel

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Factoring Broker Tips: Cold Calling

How to Cold Call for Factoring Brokers Cold calling is tough but it still works. There is nothing wrong with emails, SEO and networking (my favorite way to get business) but a well-targeted call to the right potential prospect or referral source still bears fruit. Factoring Broker Prospects: I get very few hang-ups when cold calling prospective Receivables Financing or PO Funding Clients. Why is that? Let’s start with a few simple rules: Target a specific industry. For instance, Paragon targets staffing companies. Your opening line might be ” Good Morning! This is Chris from Paragon Financial, for years we

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Chris’ Networking Rules for Factoring Brokers

Don’t sell or talk too much about yourself at networking meetings. Your goal is to build your sphere of influence by meeting new people who will educate you and become reliable resources for your clients and pillars. This is not the time or place for a sales presentation. The best way to get something from networking is to give something. Do not expect to get leads when you never give others leads. Networking is like any relationship: You get out of it what you put in it. Listen and ask the magic questions “Susan, who is a great prospect or

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