In a social setting, I am sometimes asked, “What is it that you do?” I usually reply something to the effect of, “Well, I own a brokerage business in the factoring industry”. I try to keep my explanation as simple as possible. The person to whom I am speaking usually nods their head politely, and we move onto another topic.
However, if the person to whom I am talking is a business owner and sells products or services to consumers, I will ask if he needs financing for his subprime customers. Usually the business owner has financing available through a retail installment contract for his "A" credit customers, or his "A" credit customers can easily find consumer financing on their own. But usually I hear that there is not financing available for his/her less creditworthy customers.
Need to speak with someone quickly about consumer financing?