Deal Submissions
Deal Submission Requirements for New Referrers
Lesson Video
Deal Submissions for New Referrers
As an industry referrer, submitting a prospective client for factoring simply could not be easier. And for those that elect or PAL program and it’s SQL submissions, it’s even easier that that. But first, you need to be sure you are actually submitting a genuine factoring deal.
First, factoring is not a loan like a bank loan. Factoring is the sale of a business’s invoices. Therefore, any prospective clients you submit must have invoices payable by customers.
Second, the business’s invoices must be commercial and not consumer. That means your prospect must be providing goods or services to other business owners for payment.
Below are some examples to help you to understand what is a “good” factoring prospect and one that is not.
Is This a Factoring Deal?
Is Your Deal a Factoring Deal?
Acceptable Deals
- Guard Service providing gaurds to gated communities
- Bulldozer operator working on commercial buildings
- Painter that paints parking lot lines for major stores
- Pressure washing company that pressure washing commercial buildings
- Landscaping company that mows grass for commercial building
- Food manufacturers that sell to grocery stores
Unacceptable Deals
- Lawn Mowing company that services home in the community
- Restaurant that sells lunches and dinners to consumer customers
- Contractor that repairs roofs and roof materials for homes
- A gym that sells subscriptions to its members
- An automobile repair shop that only works on individual owner's cars
- A gift shop that only sells to consumers and takes credit cards
