Kacey Harmon was a telephone receptionist at an auto dealership in Orlando, FL and had also been working part time as a Mortgage Note Broker and Cash Flow Consultant for several years on the side. Her receptionist job paid just $12.00 per hour and her note brokering business was profitable but income from it was sporadic as note holders wanting to sell their high interest private notes were difficult to find. At just 28, Kacey was a perpetual entrepreneur, always searching for other business opportunities and additional income streams so she could eventually exit her mostly dead-end job at the dealership.
While on LinkedIn one day, she saw an article about something called factoring in her entrepreneur’s group and decided to do a search engine search to find out a little more. As she explored some articles, she discovered that factors often generate business through independent “factoring brokers” who were paid commissions for their referrals. And what piqued her interest even more, was the commissions paid were residual commissions, meaning she would earn a check for her referrals month after month, year after year for as long as her referrad business owner continued to use the factor’s services.
Kacey Discovers IACFB
Using her favorite search engine, DuckDuckGo.com, she did another search for “factoring broker training” and found a link to IACFB, the International Association of Commercial Finance Brokers, which offered comprehensive broker training at very low cost. And in further exploring the IACFB site, she also discovered they offered something called a Sponsored Agent Broker Program which provided not only the broker training in factoring, but a complete array of classes and lessons on other financial products such as SBA loans, inventory loans (ABL), even something called merchant cash advance, something she knew nothing about. And what really got her attention was that IACFB also provided an entire section on how to market the factoring product as well.
Kacey could immediately see how adding factoring and commercial finance products to her existing consumer cash flow broker products such as mortgage notes offered a “two pronged” approach to success. It was clear that referring and brokering factoring clients and building a book of factoring commissions that paid each and every month residually would smooth out the earnings gaps in her notes business. So…Kacey took the plunge and become an IACFB Sponsored Agent Broker with IACFB.
The Sponsored Agent Program Website
Under the IACFB Sponsored Agent Broker Program, Kacey was provided with a professionally designed WordPress factoring broker website complete with built-in lead-generating offers to help her generate leads for factoring. When a form was filled out on the site by a visiting business owner for her FREE offer of a PDF Factoring Guide for Small Business Owners Booklet, that form response was automatically forwarded to her regular gmail email address that a “Sales Qualified Lead” (SQL) had been generated off her site.
As part of the Sponsored Agent Program, Kacey also found another program feature very enticing. Under the program, and while she was learning the ropes” any SQL that she generated could be forword to IACFB staff and they would call the prospective client, follow up, and if close the deal for her if possible. While she felt she was a pretty good marketer, she did not like colc calling and especially when she was just learning the business. Having IACFB ready to follow up on leads and use their expertaise to help close deals was a win-win situation.
WordPress Website with Elementor and Affiliate Marketing
Another program benefit that Kacey was excited about was that the agent website provided by IACFB was WordPress and because it was WordPress, this meant she would automatically have a lead-generating blog. She was already well aware that bloggers could make great side money by joining affiliate programs which also paid commissions when someone clicked on one of her affiliate product links. That meant she would now have an additional new passive income stream. She had already been looking at starting a blog and was researching blogging opportunities but with her new WordPress factoring website, she now had a powerful WordPress blog all ready to go. And what made the blogging opportunity even more attractive was that all IACFB websites featured a powerful “drag and drop” website builder / editor plugin called Elementor. This meant she could add affiliate links, modify text, colors, and images, and even add more financial products and product pages all by herself, without knowing a single ounce of html coding.
Kacey Enters the Campus
Kacey found the online e-learning center at Campus IACFB very easy to follow and she learned very quickly about factoring and how it could be used to solve most problems that small business owners face when their customers pay invoices too slowly. As a Sponsored Agent at IACFB, she additionally received a PDF print version broker training guide (she liked to learn from books as well) called the Commercial Finance Consultants Guide to Factoring that contained an entire section full of startup marketing tips and ideas to help her launch the commercial finance portion of her business. Since she was on a tight marketing budget, the classes and lessons found in the training campus as well as the print guide on networking and how to build solid referral relationships for factoring were of particular interest to her. She quickly reasoned that while none of the people she new at the dealership where she worked had a mortgage note they wanted to sell, many DID have family members and friends that owned small businesses that might need factoring or SBA loans for capital. She now could envision how the IACFB and commercial factoring could provide her with many more opportunities for building a solid referral network with multiple streams of passive income.
