How do I turn in leads?
First contact AB Finance and establish yourself as a broker via our
Referral Fee Agreement. Then complete the Client Information sheet
on your lead and email it to us for approval.
What kinds of leads should I look for?
Look for consumer receivables that have significant margins to your
client – this is an important affordability criteria. Health
club memberships, Dating services, and Education and training programs
generally qualify.
Are there any deals you don’t like?
AB finance does not compete with the banks. Remember we want to
capture the consumer notes that the banks don’t want. Therefore
we do not do Mortgage, Auto, RV, Credit Card, or Medical billing
receivables. A good rule of thumb is to remember the average size
of the contract. AB Finance prefers $5,000 and under for terms not
exceeding 36 months. The banks typically prefer the bigger ticket
contracts.
Are there any Minimums or maximums?
Look for clients who have at least $10,000 in monthly finance sales
volume.
How do I get paid?
We pay you a fee for each contract that we purchase. That means
your commissions carry on as long as we purchase contracts from
your client. Typically the fee is 1%-3% of the purchase contract
price, depending on the monthly finance sales volume. So for example,
if AB Finance purchases 10 contracts per month from a client that
you referred on an average ticket size of $2,000, then your monthly
fee would be $600.
When do I get paid?
We typically pay you monthly after the contracts have been purchased.
Under what conditions will I not get paid?
Once AB Finance decides to purchase your client’s contracts,
you get paid regardless. There is no holdback or recourse to you
if the client’s customers default. Only if AB Finance has
previously worked with the client referred will there be no commissions
offered.
What does AB Finance expect from you?
We expect only to work with qualified brokers. The sooner you contact
us, the sooner you could be earning commissions. We expect you to
do as much screening as possible upfront for clients. A broker with
a greater than 50% client approval rating will be offered far more
incentives than one with a low rating. Also brokers with an American
Cash Flow Association accreditation are preferred.
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