Factoring brokers are individuals or companies that work with a number of factoring companies or financial entities. When a business is looking for working capital or wanting to sell invoices and does not have the time to properly research all their options to determine which service will offer the best deal based on their unique situation, turning to a factoring broker can save time and money. A factoring broker will take a look at the businesses’ needs and what invoices are available for sale and then begin shopping for the best deal for the business based on the number of established relationships the broker has already cultivated. For this service, the broker will earn a commission paid out by the factoring company that funded their customer.
In most cases, the commission will be represented as a percentage of the total transaction, though it can also simply be a flat fee for services. It’s because of this pricing structure that factoring brokers will look to find a deal that is in the best interest of both parties since the broker will be paid his or her commission from the factoring company as well as benefit from a customer’s repeat business.
Universal Funding’s commission rates are scalable; our brokers have an opportunity to earn more than a flat percentage fee. Once a business engages in invoice factoring, the trends show an increase in their revenues. The increase in revenue is mirrored by the volume that they factor with us which is reflected in higher commission opportunities for brokers. Deals that you broker through us and fund in the next month will provide you with an extra holiday bonus in the form of your first earned commission!
For more information on Universal Funding and the broker program, give us a call today at 1-800-405-6035.