Since 2011, National Factoring Group has been an advocate for businesses using Accounts Receivables Financing to manage their business operations and cash flow. Our husband and wife team of Brandon and Brandi Bauer had a dream to offer a trustworthy service that matched businesses with factors who were able to not only buy accounts receivable invoices but to do so with a deep understanding of the businesses they serve. That dream has become reality as National Factoring Group.

1. 7Factoring Financing
Mistakes to Make
WORST
When Securing
The

2. Choosing The Wrong Factor For Your Industry
Mistake #1
Just as you've specialized in a particular
industry, so have Factors.
The first step in finding the right Factoring Company is to
ask how they would handle a particular situation that is
unique to your industry.
This will give you instant insight into their expertise -- and
potentially save you from costly mistakes that come from
partnering with a Factor that does not understand your
EXACT needs. 1#

3. Not Responding In A Timely Manner
Mistake #2
While you are interviewing Factoring Companies,
they're also interviewing you!
A quick response to their requests for information tells them
three things:
1. You're organized & easy to work with.
2. You're serious about securing accounts receivable financing.
3. Your business is most likely solid, with happy clients and
employees.
Making a good first impression can influence every aspect of
your factoring, so don't miss this opportunity to set yourself up
for success.
2#

4. Not Sending All Information Requested
Mistake #3
3#
This is probably one of the biggest mistakes
aside from a slow response time.
After you first talk with a Factor, they will send you an
application and list of additional documentation needed.
Everything they're asking for helps them properly assess
your business and provide a working capital line. It's in
your best interest to provide everything quickly and in
full.

5. Not Disclosing Past Issues
Mistake #4
4#
If someone asked you for a credit line for
thousands (or millions) of dollars, would you
run a background check?
Of course you would! And you can be sure Factoring Companies
will as well. To put it simply, tell the truth, because they'll most
likely find out anyway.
If you're upfront about any past issues, most Factors will still
work with you. If they discover you've hidden something, the trust
will be gone. You'll either be quoted significantly higher rates or
your application will be thrown out altogether. Don't risk it.

6. Trying To Pit Factors Against Each Other
Mistake #5
5#
Comparing Factoring Companies is not an
"apples-to-apples" comparison.
They have different industry experience, levels of service,
reporting and asset requirements. When negotiating:
DON'T: Try to bluff your way into a better deal by pitting them
against each other. Most Factors know their competition and
often have good relationships with them.
DO: Tell each company whom else you're talking with and ask
each what makes them stand out against the competition.

7. Not Taking The Time To Understand The Deal
Mistake #6
6#
Several years ago, I lost a client over a
perceived savings of $600/year…
They never understood that my proposal featured an "all in"
pricing structure, meaning what you see is what you get.
Unfortunately, after a few months they discovered the Factor they
chose had fees built in -- resulting in an additional $6k in annual
expenditures.
When in doubt, ask, ask, ask!

8. Not Doing Enough Research
Mistake #7
7#
Unfortunately, most companies spend more
time researching the purchase of computers
than they spend researching a Factor.
At National Factoring Group, we've noticed first-hand that the
businesses who've browsed and read our Factoring FAQ's and
other articles on accounts receivable financing on our website
have received better rates and the Factors received better
approval ratings.
Bottom line -- an informed consumer is a happy consumer.

9. Here’s How It Works:
Use the
online form
to enter
your factor
needs.
Review each
company’s
terms and
choose 3 to
compete for
your business
Receive
results with
the top 10
factors that
meet your
criteria
Receive
results with
the top 10
factors that
meet your
criteria
National Factoring Group provides you with information upfront, the
resources to understand who each factor is, service ratings for comparison
and a tailored search only showing factors that work in YOUR industry.
Our clients end up saving money with our process because our factors know
they are competing for your business. Our process guarantees you a fair rate
for a financing solution that meets your exact needs.