For those seeking a truly “professional” home based-business to launch, almost no other business choice can compare with that of Commercial Finance Consultant. Though sometimes referred to a factoring broker, most involved in the industry now represent multiple products well beyond invoice finance alone. Regardless of the financing products that you focus on, you are highly regarded by industry financiers and, for your referrals, are paid exceptionally well through new legendary commission programs.
In the simplest terms of this business, you, as an industry agent / broker, provide access to “Secured Finance” to small and mid-size business owners who are typically unable to access traditional bank loans. They are typically “Credit Impaired”. Secured Finance is different. Secured Financing is a business loan backed by collateral. Such 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 and not the credit (or lack thereof) by the business or business owner.
Your Seven (7) Products as a Broker / Agent
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, in one form or another, a secured interest in the business owner’s assets or business equity. These financing transactions, are said to “perfect” a security interest (a lien) on assets.
Referrers and Lead-Generators
For brokers and agents, this is simply a business of generating referrals and leads. You are simply “lead generators” for the industry lenders and factors. Nothing more or less. Few that become professional “career” brokers actually had (initially) the significant knowledge about the business (or business finance) to succeed. This is where your value is to business owners and it takes some time and training to become a skilled consultant. Like you when you first start out, however, most business owners like you are familiar with Secured Finance. Your job as a become broker / agent is to…
- Learn and Develop the knowledge (through IACFB training) about Secured Finance Products
- Network, Market, and Build Relationships with business owners that can utilize your knowledge
- Determine if such business owner have a need for your services
- Refer them (the business owner) to the proper type of lender
Virtually No Paperwork
In addition to the exceptional commissions and income that draw most to the industry, this is a career that not only provides you complete flexibility with how and when you work, but also features the ability to find qualified leads, refer them to the right lender, and then you’re basically finished. There is very little paperwork. You are NOT allowed to contract or even discuss the contracts provided. You simply have your prospect (business owner) complete a short application (Company Profile), send the profile to the selected lender, and that’s it. If it qualifies for financing and its funded, you next task is to then determine when and how you spend your commission check. And many such commission checks are “residual” which means that you continue to enjoy an additional check each and every month and year after year, that your referral continues to use the financing service.
Find Out More
Want to find out more about this unique and “under-the-radar” home-based business? This is an easy “networking” based professional business that virtually anyone can succeed at and you can find out more by visiting the Training Campus at the International Association of Commercial Finance Brokers (IACFB) at www.iacfb.academy. Also take a minute to sign up at our LinkedIn Group at https://www.linkedin.com/groups/9075224/
