Table of Contents
Registered Guest Training
About Your Guest Access at IACFB
Your Guest Access here at the Academy is provided by..
- a commercial factor…or
- an IACFB Commercial Finance Consultant
As a guest you have a full 30 days access to this basic training area for industry referrers. Your provided LOGIN and PASSWORD additionally provide you with access to the IACFB’s Commercial Finance Consultant Magazine.
Commercial Finance Consulting Setup
All classes and lessons are available below to IACFB Members in the Factoring 101 Program. Additionally, related content in the form of articles at the magazine and lessons at the IACFB’s YouTube Channel are accessible. Make certain you have logged into the IACFB Magazine as well as many lessons are password protected.
About the Program
Available to Factoring 101 Freelance and Commercial Finance Consultants
Factoring 101 is a comprehensive training program that introduces the various products used by business finance consultants and brokers in the alternative commercial finance industry (Click Here)
This online training includes several PDF downloads
- IACFB’s Factoring 101 Training Guide: (Click here)
- The Industry Glossary of Terms… (Click here)
During this training course, we will frequently reference articles that are published in IACFB’s magazine for commercial finance consultants. Take a moment to view our magazine and book mark its URL. (click here)
For many, completing their training provided for in Factoring 101 and 202 as a member is their end goal. This includes our members such as professional bloggers, bookkeepers, accounts payable managers, tax preparers, etc. whose primary career is NOT that of a broker, but look at this training as simply an additional source of passive income. For those with a career focus, however, as a professional in the factoring and alternative commercial finance industry member, IACFB provides additional content found in Factoring 303, and 404. These are provided for both IACFB Freelance Factoring Brokers as well as Certified Professionals Commercial Finance Consultants. (Click Here)
For 2023, the Sponsored Agent training area is no longer housed here at the Campus but now resides “Off-Campus” at both the IACFB’s YouTube Channel and at the Magazine. Sponsored Agent Training is FREE in YouTube but does require that your agents log in at the Magazine to access training articles. Since building networks of agents is an “agency function” and agency development, we deal with this more in detail in the Factoring 303 training section.
IACFB provides several “certifications” that will provide you with an important marketing tool that will set you apart. Certification is “required” tp benefit from certain marketing campaigns at IACFB. (more)
The IACFB Directory of American Factors and Lenders is one of your most powerful tools available to you. Not only is it an expansive resource of factors and lenders, it is also available to you as a an advertising channel for your business.
- View the Directories here
- Learn How to “Add Your Listing” here
Member Setup / Operation
Available to Factoring 101 Freelance and Commercial Finance Consultants
Although there are many types of members here at Factoring 101, there are some commonalities regarding business setup. Many of these we reference in the magazine but we will touch on them here in Factoring 101 as well (click here)
All IACFB members that become “active” in the industry will require a professionally designed broker website and these are available through DataMax on a discount basis for members. Learn more about important features and options of these standard websites here. (Review Your Choices)
If you are taking this course with a career in mind as a true “Freelance Commercial Finance Consultant”, you will, without question, require a CRM (Customer Relationship Manager) to manage your Productivity (Marketing and Prospecting). We support Pipedrive CRM due to its low cost and ease to use. As a professional business finance consultant, you will end up with thousand of valid prospects over time. You CANNOT possibly manage that number of leads without a CRM. Pipedrive is our choice. ( Click here )
When entering the industry, you have many choices when it comes to your website’s forms for lead submissions and follow up with email. Your website’s forms are the primary source of leads for prospecting and for new, commission generating clients. Though we cover this in detail in Factoring 202, this article on the magazine will provide some important details. (Click Here)
Although we will talk more about your need for a powerful all-in-one email management program in Factoring 202, you should set up this application as quickly as possible. MailChimp offers up to 2,000 emails for contacts FREE. Here is some “best tips” for set up by MailChimp on YouTube. (click here)
If you’re entering the training and are anticipating operating your business as a “Sponsored Agent” and submitting your deals through IACFB, simply click here to view this deal submission page at www.iacfb.com.
Basics of Commercial Finance Consulting
There is no question that a career as a freelance commercial finance consultant is exceptional by any measure. This IACFB course will provide you with all that is required to launch a career in this enormous industry quickly and successful for those entrepreneurs and mobile creatives with what it takes to meet the challenge.
Commercial Finance Consultant
Factoring Product Training
Commercial Factoring
Invoice finance and how to deal with problems of cashflow dealing with slow paying customers.
Factoring 101 is a comprehensive training program that introduces the various products used by business finance consultants and brokers in the alternative commercial finance industry (Click Here)
Consultants will be interested in all types of business finance from asset-based lending to purchase order finance. But, with residual commissions paid by factoring, let’s explore factoring first. (Click Here)
Commercial Factoring is one of the oldest forms of business finance that can trace its roots of 4,000 years. Learn about this time honored financial product. (Click Here)
Like all types of businesses, many include their own jargon and terminology and factoring is the same. Here we discuss the terms of the industry so you can speak professionally with factors. (Click here)
When it comes to factoring, what requires the need for a factoring facility is because of the liberal terms of payment one company affords to another. It’s the terms of payment that cause the problem (Click Here)
Let’s measure your progress with a short Class Marker Quiz. (Click Here)
While most factoring arrangements can seem to be “plain vanilla”, there are, however, some types and styles that are needed to provide the unique financing requested. Learn more. (Click here)
Recourse and non-recourse determines what occurs when a factor purchases an invoice that is subsequently is not paid, (Find out more)
In factoring, the “Verification” process refers to the validation of the invoice requested for purchase. Unlike a bank with hard collateral, a factor is only secured by invoices. They must be real (Click here)
When financing a company based on an asset or assets, a lender will file a “security interest” in the assets as collateral for the loan or financing. This filing document, called a UCC-1 Financing Statement, is said to “perfect” the lender’s security interest in the collateral. (Find Out More)
Let’s check out your proficiency on the last 3 lessons with a Class Marker quiz. (Click here)
Advance, Collection, and Rebates refers to the the basics of how a standard factoring transaction works in everyday life. For brokers, this is the “nuts and bolts” of a transaction. (Click here)
Most factoring is very straight forward and falls into the category of “Plain Vanilla”. There are, however, certain types of industries that require special handling by special factors. (Click here)
- Overview: All about factoring fees (click here)
- Factoring Fees in Windows Method (click here)
- Flat Fee Plus Interest Method (click here)
Great! Now that you’ve completed those lesson, lets visit Class Marker and view Quiz #3. (Click Here)
Commercial Factoring
Representing trillions of dollars in financing worldwide, factoring is recognize by all central banks.
While all those that understand that factoring is all about invoice finance, it is also important that the kinds and types of invoices are also critical. In short, all invoices are not the same (Click here)
While invoices need to be verified before purchase, another problem can surface if a factor purchases two many invoices from a single customer making the transaction too risky (Click here)
Reverse Factoring (supply chain finance) is a factoring arrangement that is requested by the customer (the debtor) rather than the service or goods provider. A powerful tool for brokers (Click here)
As a consultant / broker, you will likely find many small business owner ask you what the benefits there are about factoring and why a company like theirs will factor accounts? ( Click here)
Because factoring is a purchase and sale arrangement and not a loan, qualifying tends to be much easier than qualifying for a loan. As a factoring broker you need to know the differences. (Click here)
When financing a company based on an asset or assets, a lender will file a security interest in the assets as collateral for the loan or financing. (Click Here)
Take this last factoring proficiency exam. Do well and you will be ready to get “Certified” (click here)
One of the best ways to cement your knowledge about factoring is to view some examples and case studies. (Click Here)
Brokers who submit clients to factors receive commission reports monthly. Although each report can be slightly different based up the factor’s invoice tracking software, this is a sample. (Click Here)
Certification in Factoring
Certification is an important part of your training at IACFB and additionally provides certain lead generation and marketing benefits. The exam is 125 multiple choice questions and all questions are taken from the Factoring 101 Brokers Guide or from the online e-learning above. You have 120 minutes.
STEP 1: Request your exam PASSWORD
STEP 2: Take the Factoring Broker Class Marker Exam
What is Secured Financing?
In the simplest terms, you, as an industry agent / broker, provide access to “Secured Finance” to business owners typically unable to access a traditional bank loan. Secured Finance is a business loan backed by collateral. The collateral can be a business asset such as…
- cash
- accounts receivable
- inventory
- machinery
- equipment
- real estate
In some occasions, even intangibles such as patents, copywrites and trademarks can be used for financing. In Secured Financing, the value of the collateral is most important in determining the amount of the loan.
Continuing Education Products
Continuing Education Products
If you have entered our industry with launching a true career in mind, one of the most lucrative goals you can set from day one is to build your business as an “AGENCY”. Like so many popular multi-level business models that take advantage of “downlines”, structuring your consultancy as an agency rather than a simple “owner operated one man shop”, means you enlist hundreds of individuals that, through their normal every day channels, can send significant business your way. Simply put, your “AGENTS” are sponsored by and trained by you to recognize financing opportunities regarding business owners and send them your way. They are “REFERRERS”. And for their referral, you pay or share your commissions.
Asset-Backed Lending Related
Cash flow Lending is a type of unsecured loan that is used by businesses for day-to-day operations. Generally, the loan is used to finance working capital, such as payments for payroll, rent, inventory, and so on, and is paid back by your business’s incoming cash flows. (Click Here)
Microloans are small ($50,000 or less) short-term loans with a relatively low-interest rate. Microloans are often provided to self-employed individuals, new startups with very low capital requirements. (Click Here)
Import and Export Trade
Documentary collection is a form of trade finance in which an exporter is paid for its goods by an importer after the two parties’ banks exchange the required documents. The exporter’s bank collects funds from the importer’s bank in exchange for documents releasing title to the shipped merchandise, usually after the goods arrive at the importer’s location.
One of the most efficient methods of insuring timely payment on international orders.
7 Products in Your Universe
When talking about the secured finance universe, you will be discussing business financing that includes seven major financing types:
- asset-based lending (ABL)
- factoring
- supply chain finance (reverse factoring)
- equipment finance and leasing
- leveraged lending
- cash flow lending
- asset-backed securitization.
To some degree, each of these financing types involves one form or another of a secured interest in the business owner’s assets or business equity. These financing transactions, in some form or another, are said to “perfect” a security interest (a lien) on assets.
STEP 3: Take the Commercial Finance Consultant Class Marker Exam
Continue Begin Building Your Business Through IACFB
IACFB Academy Members Only
Marketing & Business
Set Up Support
Enter Factoring 202 for business set up and marketing support. This also contains your “Business-in-a-Box” features such as brochure templates, mail stuffers, flyers, cold call scripts, cover letters, etc. Also provides your FB-Series broker website and support.
Consultant Agency
Set Up Support
If you are setting up your business as a consultancy, Factoring 303 will provide you with all the details to build your networks of “Sponsored Agent” lead generators. Complete “how-to’s” on how to build your affiliate commissions through DataMax.
Factoring 404 (Link)
Note Broker Consultant
Training & Support
If you are entering IACFB as a current or former “Cash Flow Consultant’ and representing those products, Factoring 404 provides complete training and complete support for those with DataMax “SuperSites” and unlimited “high payout” affiliate marketing opportunities.