Sponsored Agent Program

About the Sponsored Agent Program

IACFB’s Sponsored Agents Program is a special introductory program for both IACFB referrers and those working with our industry’s commercial factors as “referral agents.  This is a training / intern, and support program for those entering the industry strictly on a part time basis and who will operate by generating sales qualified leads (SQL) by networking either using social media or through face-to-face networking opportunities and utilizing the SA-Series Lead Generation Landing Pages provided through DataMax Marketing Systems.

Choosing Your Sponsor

The  Sponsored Agents Program is a unique and basically FREE program which provides the basic training required to identify business owners that represent opportunities for factoring along with a special, professionally designed WordPress Landing Page that includes a FREE offer of an informative booklet entitled “When Banks Say NO!  The Small Business Guide to Factoring.”  The Sponsored Agent’s job is actually very simple.  It is to drive visitors (business owners) to their landing page where they can request the FREE booklet.  Visitors do so by completing a short form that, when submitted, provides the booklet on factoring as a PDF download.

Once submitted, a copy of the form with the contact information of the business owner is forwarded to the agent and also the agent’s sponsor (either IACFB staff or the sponsoring factor who then follows up on the lead and if possible, closes the deal.  The agent, as broker-of-record, receives the commission. 

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, their BDOs, or IACFB.  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 a factors BDO or IACFB staff member.  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:  $99.95 (IACFB Factoring 101 “Lite”)
  • MONTHLY HOSTING:  $14.95 per month
  • DOMAIN:  $14.99 per year 
  • BUSINESS EMAIL:  Included 
  • COMMISSION RATE:  50% of earned commission fees at IACFB.  If paid by existing Freelance Broker, commission split may vary.

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 “Lite” is provided so long as website hosting is current.  

How Do I Enter This Program?

To enter the Sponsored Agents Program and begin training, you simply need need to choose your Landing Page Template and then set up your domain and hosting account through DataMax   The normal cost for Enterprise Bronze Websites are $79.95.  Training programs are available as an “Add-On” when CONFIGURING as the time of set up.   

NOTE:  IACFB provides either additional training through the Commercial Finance Consultant Program or Prizes and Awards with value of approximately $200 upon an Sponsor Agent Client submission accepted and funded.  See details. 

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.  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 sponsor (IACFB or your factor).

It’s important to remember, as a sponsored agent, you are NOT responsible for selling or “landing the deal”.  That is your Sponsor’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 sponsor for follow up, 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…

  • 50% of factoring commission earned by your sponsor 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 source7

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 support.  It is a referral program where your factor or one of the firms BDOs will actually close your deals.  Commissions are based on your factor’s commission schedule.
  • IACFB Agent:  With IACFB as your sponsor, you will be compensated by IACFB for closed deals submitted and reimbursed ($99.95) when your first submitted deal is funded making this a basically FREE program.  Sales contest based upon SQL (Sales Qualified Leads) submitted are also available. 

Signing up as an agent is very simple.  If you plan on using a factor as your sponsor, go to IACFB’s LinkedIn page and look for a post from a factor “seeking agents”, visit the factor’s website to make certain it is a match for you (request a Broker’s Agreement) and then when purchasing your Landing Page, enter the factor’s name in the text field provided.  If you are using IACFB as your sponsor, enter IACFB in that text field.  When setting up your website, we will code the form fields to report to the proper associated email address for follow up on the leads you generate. to sign up now, visit http://www.dms-factoringbroker.com

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 or IACFB staff.

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 or IACFB staff handles the rest.

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 factor’s BDO or IACFB with a completed Company Profile for him / her to contact and follow up on.