Entering the Sponsored Agent Program
For those entrepreneurs that have found the career of freelance factoring broker and the unique opportunities available though IACFB (the International Association of Commercial Finance Brokers), the initial decision that most will need to determine is how to enter. IACFB basically has two programs…
- FACTORING 101: A perfect, low cost program for part time consultants
- FREELANCE PROFESSIONAL FACTORING PROGRAM: The right choice for those that are determined to become a full time business finance consultant.
A third program exists, however, which is a program that is a “members” program that strictly a program for…
- AFFILIATE MARKETERS
And that is a program called the Sponsored Agent Programs
What Is Sponsored Agents Program
The Sponsored Agents Program is a very simple program that focuses on the business of “lead generation”. The perfect candidates for this IACFB program are…
- home-based entrepreneurs that are very active on social media and in particular, LinkedIn and Twitter.
- entrepreneurs that are seeking sources of or simple businesses that provide opportunities of “multiple income streams”
- individuals that are “active” in their community and belong to multiple organizations where networking opportunities exist
- retired individuals who are travelers and find they meet others in the exploits such as on vacations
Those that become Sponsored Agents will work with an IACFB trained Freelance Career Consultant to generate leads. Agents have a special WordPress Landing Page where business owners in need of financing can download a FREE booklet on factoring and alternative commercial finance products. Once the booklet is requested and downloaded, the Freelance Factoring Broker makes the qualifying phone call and follows up with that lead. If the lead qualifies for financing, the Freelance Brokers refers it to the proper source. For the referral, the Sponsored Agent shares in the commission paid to the Freelance Broker. This is typically 50% of the commissions received on an ongoing basis, although each Freelance consultants is different.
Cost of Entering the Sponsored Agents Program
One of the most attractive characteristics of the Sponsored Agents Program is its low cost. This program is typically under $100 including comprehensive training, a WordPress Landing Page, optional Blog, and support. Monthly costs of operation is only website hosting of $12.95 per month and that is even reduced with the popular Affiliate Program at DataMax. So, what you will require to operate this business are some
- Business Cards (about $25)
- Website Hosting ($12,95 monthly) and reduced by the Affiliate Program
- Website Domain ($14.99 per year)
- Networking Opportunities (most online are FREE)
How to Find a “Sponsor”
As mentioned, individuals that enter this program are “sponsored”. The sponsor of “default” is IACFB itself, however, agents can select to work with any IACFB Freelance Factoring Consultant at anytime and the benefits are commissions.
- IACFB Commission Sharing: 50% of standard fees earned or 5% of fees earned
- Freelance Freelance Broker: 50% of normal 15% of fees earned or 7.5% of fees earned
The best way to find a freelance broker to work with is to enter the program through IACFB for two reasons:
- You can opt to begin working with a Freelance Broker at any time
- If you are ultimately seeking to become a career freelance broker yourself, IACFB provides the additional program training FREE of charge once you have submitted your FIRST accepting financing transaction
For Cash Flow Brokers
For those home-based entrepreneurs that predominantly enter the industry starting off with brokering discount notes and mortgages, the vast majority find that brokering real estate notes is simply not enough. In fact, the cash flow industry simply offers too many more opportunities to actually stick with ONLY discount mortgage notes commission. Some products, such as structured settlement, inheritance advance, and other consumer commission are common cash products. But the must common area of expansion and by far the most lucrative area of income for mortgage note brokers is that of commercial finance brokering and operating as a business loan / factoring broker. Business finance is VERY lucrative and there are several ways to train and get started in this most area. One of the easiest and least costly methods to get started is to “team” up as a “sponsored agent” working with an existing IACFB freelance factoring broker and then upgrade your standard Cash Flow Broker Website to what is called a “SuperSite”. These site are perfect for home-based entrepreneurs seeking “multiple income streams” using social media and one unique website.
Find Out More
The Sponsored Agent Program is one of the easiest and most affordable methods of getting involved with factoring and business finance brokering. You can find out more with IACFB’s YouTube Channel as well as at the IACFB Training Academy.