How to Run a Small Factoring Business (The Small Factor Series Book 3)

To find these, do an internet search looking

In short, keep your factoring clients local when you start. It’s much easier and will enable you to be successful more quickly. It will also lead to contacts with bigger clients whom you can refer for nice commissions.

International Factoring Association (www.factoring.org) is to “assist the factoring community by providing information, training, purchasing power and a resource for the factoring community.” It highlights developments and changes in the industry and provides a forum for educational meetings and seminars. IFA members have group buying power in nego

Ask your attorney about usury laws and licensing requirements in your state (for example, in California you need to obtain a state lender’s license) and be sure your practices are in compliance. If your attorney doesn’t know the answers to these important matters, get a referral to one who does.

“Hello, I’m ______ and I handle the receivables for ABC Widget Company. I’m showing an invoice that’s getting a bit old and I want to make sure you received it. Can you help me with this?”

Dun & Bradstreet is the best known and gives extremely thorough reports. However, there are some disadvantages to D&B for the beginning factor.

Attorney David Jencks has prepared complete legal document templates especially for small factors, which I recommend. They are called Basic Legal Documents, Additional Legal Documents, and Complete Legal Package, and are available for purchase and download from www.DashPointPublishing.com

I use RightSignature.com and it works well for me. What follows are RightSignature’s two methods of creating and e-signing a contract.

Likewise, set a limit on the total money invested in the invoices of any customer, and establish the dollar amount of the largest invoice you will buy.