 |
 |  
- Use of Collateral Audits on the Rise
- Latest News in the Factoring Industry
- The Essentials for Successful Direct Mail
With the increasing deal size that many firms are seeking, Factors are increasingly turning to professional collateral auditors as another part of their underwriting and ongoing credit management processes. The use of these auditors provides yet another arrow in the quiver available to Factors to get a better handle on concentrations and other accounts receivable related dilemmas. Additionally, because of increased competition in the arena and the corresponding erosion of margins as a result, lenders are always in the market for new tools that will assist in the mitigation of risk. The use of a professional collateral auditor is one such tool.
It is important to note the difference between a collateral auditor and an auditor in the traditional sense (i.e. from the Big 4, or formerly the Big 6). A collateral auditor has the expertise to evaluate collateral as it applies to a lender (Factor) versus the interpretation of that same collateral through Generally Accepted Accounting Principles (GAAP). Assets tend to have both a different meaning and possess a different value to the two types of auditors. | | Not only are the services of a collateral auditor useful in pre-funding and ongoing credit evaluation scenarios, but they can prove invaluable when attempting to recover a lender's dollars in a workout situation. They have the ability, experience, and expertise to uncover proof of potential frauds or anything else that may be useful for the court battles that are so commonplace in today's litigious marketplace.
So, whether or not a deal is only in its nascent stages, represents a current client, or is in a workout type of situation, the use of a professional collateral auditor is a wise decision in an effort to mitigate the overall risk in your portfolio.
Credit Support International, the umbrella organization of FactorHelp, has a Collateral Auditing Division with over 20 years of experience in professional collateral auditing. For any questions, please email Jon Eckhouse at jon@factorhelp.com or call (972) 231-6572. |
|
| |
|
 |
|
Factoring, in one form or another, has been around for thousands of years. Although it comes in many different forms, the basic premise has always been to allow firms flexibility with respect to their working capital situations. Traditionally thought of as a resource for manufacturers and wholesalers, Factoring is now being used by those in the Hospitality and Retail Industries as well.
Clayton Gilman tells us how:
http://www.factorhelp.com/news-gilman.php
Did you know that FactorHelp offers a wide array of manuals to assist your Factoring firm in all stages of its growth and development?
Visit our website today and find out how. | | 
EquiFin, Inc. today announced that, pursuant to the terms provided under the agreement of sale and purchase, it had received the return of the stock of Equinox Factors, Inc. from Coast Capital Partners, LLC ("Coast") thereby negating the contingent sale that was announced on March 9, 2005. The stock and portfolio were transferred back by Coast without any charge or offsets for losses or expenses incurred by Coast during the time it held the Equinox Factors stock.
For a complete listing of all the latest news in the Factoring Industry, please visit http://www.factorhelp.com/news.php
Factorhelp offers a complete suite of Investment Banking Services for companies in the Factoring Industry. Call, email, or visit our website today for all of you M&A and/or portfolio brokerage needs!
|
|
| |
|
 |
|
Direct Mail is a vital part of any advertising program, but only if it is executed precisely and professionally. A good direct mail campaign doesn't have to be expensive. In fact, one can spend less if the proper strategy is applied to your direct mail campaign. So we are going to touch on some basics…
The Right Audience - First things first: the most important thing to avoid about direct mail is executing it in such a way that it becomes junk mail. What is the difference between junk mail and direct mail? Easy. Junk mail is never wanted -- by anyone. Direct mail goes to somebody who wants to receive it, and values it for what it provides. Direct mail is wanted, junk mail is not.
Make that phone call. Find out who needs to see your offering and then send your direct mail to him or her. Remember: certain people are looking for you. They need you. They want to meet you. Figure out who your audience is and get in front of them, and not just once. Follow up month after month. Keep your company at the top of the list of your future clients.
The Right Words - Once you find out who you are sending your direct mail piece to, use the right words. Don't talk over their heads. Never be too industry specific. | |
Clearly and concisely lay out your offering, its terms, and how it can demonstratively improve their business. Get to the point and stay on message. And keep it short. The Rule of 7 is good to remember here: no more than seven lines per paragraphs. Two paragraphs should be enough.
What's In It For Them? - What does your direct mail piece offer? What's the incentive? Saying you are the best isn't enough. Tell your audience how they can save money, expand their markets, or out maneuver the competition - these are benefits your audience needs to hear.
We Call It 'Snap' - Impact. Your direct mail piece must have impact. Stand out. Rise above. Everything from the price point of your direct mail piece, to the color, the stock, the creative, the packaging, the copy - EVERYTHING must be better than the direct mail piece in front of yours, and behind yours. Don't squelch on the impact. You don't have to spend a lot of money, but you need to be unique. Yes, that's right. You need 'snap!'
Email us at design@factorhelp.com or visit our website to move your direct mail pieces from mediocre to amazing. Take the next step and contact us today!
|
|
| |
|
 |
|
Online Reports - Factoring companies, both small and large, can stand-out from their competition by offering their customers 24x7 access to their account via Online Reports. There is no software, server or firewall required to instantly make this service available. This secure service has over 5 years of proven results with Factors, Banks, and commercial lenders of all sizes and specialties. The service is available for all Factoring software, including Distinctive, Bayside, and Stucky programs, and is offered as a pay-as-you-go service, with no long term contract obligations, starting at as low as $200/month.
Online Debtor Credit Auto Approval - Established Factoring Companies can leverage their historic data to attract new and retain old customers while increasing operational efficiency. You can offer your customers a way to get automated credit decisions & view historic credit limits without the involvement of Underwriter's time. Online Credit application is offered as low as $75/month for report subscribers. | | 
New Client Application Processing and Portfolio Alert - Operationally, you can process almost 80% of your credit decisions through an automated Credit Scorecard and Credit Application system. The automated Scorecard and Portfolio Alert system can be installed for as low as $7,500 and integrates with all major Factoring software.
Did you know that FactorHelp offers Sales Consulting (for those Factors finding growth a challenge) and Credit Consulting (for those Factors experiencing problems in their portfolio) to assist your Factoring firm in all stages of its growth and development?
Visit our website today and find out how. |
|
| |
|
 |