New Learning Resource For Factoring Brokers and Referral Sources

Part of PRN Funding’s commitment to maintaing strong relationships with our factoring referral network is writing articles for various invoice factoring publications. Now we’ve made it even easier for brokers to access those articles via a special section on our web site: Factoring Broker Articles. Check out one of the video description below:

Factoring Prospects: Weeding Out the Bad to Find the Good

As cash flow consultants, it’s your job to deliver companies with cash flow issues to the appropriate funding source. Although this task sounds easy enough on paper, in reality, it’s not always a simple feat. Picture this scenario: You find a candidate in need of cash flow who has been in business for two years, gets paid in less than 45 days and wants to expand. Eager to help this business owner get the cash he needs to expand, you refer this person to one of your factoring sources immediately. The factoring company has communicated to you that they are interested in pursuing the deal, and they’ll have an update for you as soon as they reach out to the prospect. The next day, you get a phone call from the factoring firm telling you that they are no longer interested in the deal. Has this ever happened to you? If so, then I have some good news. There are three questions cash flow consultants can ask their prospects that will drastically reduce the chances of the above situation ever happening again. And if it hasn’t happened to you yet, and you’re not asking the appropriate questions, then it’s only a matter of time before it will happen. Continue reading…