Agents Program

About Sponsors for Agents

Factoring 101

All About Your Program Sponsor

Just like it sounds, the Sponsored Agents Program does require that you have a sponsor and there are basically three (3) types of spnsors. 

  • A Commercial Factor
  • An IACFB Commercial Finance Consultant
  • IACFB Itself

Although you are provided with “Registered Guest” privilages to the training content in most cases, you will need a sponsoe to provide additional training or other IACFB benefits.

All About Sponsors

All About Your Sponsor

Over the years, IACFB has recognized two major types of consultants that come to us for support and training.  These are…

  1. Part-time referrers are interested in exploring their opportunities.  They have discovered this exciting industry and its lucrative commission structure and want to get more involved as referrers, agents, bloggers, etc.
  2. Career-oriented entrepreneurs who totally understand the opportunities available to them and will work to achieve success as freelance factoring brokers and commercial finance consultants.

Since most entering the industry through IACFB are the former referrer types, IACFB has provided several program options tailored for individuals.  The most important and popular, howver, are the Sponsored Agents Programs.

The Sponsored Agents Program

The “Sponsored Agents Program,” much like it sounds, is a no-cost or low-cost startup program that requires a “Sponsor.”  Your sponsor absorbs some portion of your normal training/support costs in turn for working exclusively with them when you submit SQL (Sales Qualified Leads).  As an agent, you have three (3) choices of sponsors…

  1. You have a factor that is an IACFB Lending Member (factor).
  2. You have a professional IACFB commercial finance consultant developing his or her “agency” and seeking more referrers.
  3. You have IACFB itself as your sponsor.

More About Your Program Sponsor

As a new industry referral agent,  all three sponsor choices have slightly different benefits.

  1. FACTOR as your sponsor:  How factors sponsor new agents is very different depending on the factor.  All factors that are IACFB Lending Members can provide basic training in factoring (this program).  This is because of their ability to offer Registered Guest status at the Academy.  Other than that, support from an individual factor is usually based on productivity bonuses.  For new agents/brokers, the commission payouts are the HIGHEST when you are sponsored by a factor.

  2. COMMERCIAL FINANCE CONSULTANT (CFC) as your sponsor:  Professional commercial finance consultants often structure their business as an “agency” (Factoring 303).  This is obviously a powerful tool for these individuals, and agents act strictly as “lead generators” for CFCs.  Most referrers for CFCs will work closely with the CFC and do so indefinitely.  Most CFCs will “subsidize” your entry into Factoring 101 training at the Academy.  Most will also create bonus programs when SQL leads convert into clients and are actively provided.  Your commissions with a CFC are “shared” based on commissions earned and with each CFC program different.  Based on your productivity, you may or may not be provided with a standalone website.

3. IACFB as your sponsor:  IACFB has various elements for this program depending on how you enter this program.  You can..

    1. Enter as “Agent” under the IACFB Partners Program, with IACFB actually being the operating partner. This only requires IACFB membership and a minimal cost.  You are provided an agent landing dedicated page on an existing IACFB Partner website (no hosting or domain fees) featured in the Partners Program website.  Referrers under this program are limited to ten (10) in any location.
    2. Enter as an actual standalone Sponsored Agent with domain and website.  These are unlimited.  Domains and hosting fees are provided by IACFB based upon your productivity

Are These Programs Apprenticeships / Internships?

Virtually all those electing to enter IACFB Academy under any of the above programs can look at them as internships or apprenticeships, and that is simply because all of these programs only require you to generate leads.  No matter which you select, you will always T.O. (turnover) a lead to your sponsor, who will determine if the deal has merit and then actually close the deal for you.  Referrers and Agents ONLY focus on networking. Most are done through LinkedIn as a Social Media and Chambers of Commerce using their after-hours face-to-face get-togethers for local business owners.

How to Get Started and Find Your Sponsor

You can always join IACFB and begin training, but if you are seeking a sponsor to work with and provide some level of support or discounted training, the easiest method is…

  1. Place an ad on LinkedIn:  Simply place an ad on IACFB’s Broker Group stating “Agent Seeking Sponsor“. All agents need to join LinkedIn, and since joining is entirely FREE, there is no reason to waste time.
  2. View Factor Listings on the Lenders Directories: Factors that are actively building broker networks will advertise under the “Details for Brokers” information area.
  3. View “Factors Showcases” on the IACFB Magazine.  The majority of factors with showcases also have Registered Guest privileges for their new brokers.

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