Factors Southwest: Phoenix Small Business Profile
For small businesses looking to expand or that need additional funding, any type of loan option can be considered. Finding these options may sometimes be difficult, but with Factors Southwest, today’s Phoenix small business profile, they are easy to find. Factors Southwest offers lines of credit to small business-to-business organizations and business-to-government companies. Located in Phoenix, they have been in business since 2001. Learn more about Factors Southwest below.
What product or service do you offer?
Factors Southwest offers flexible and affordable lines of credit to small and mid-size business-to-business and business-to-government companies. Since inception, Factors Southwest has grown into a respected member of the finance community and funds over $36 million annually. To serve the company’s diverse clientele, Factors Southwest provides individualized services to meet the specialized needs of each client. Its financial flexibility also allows funding for companies with previous credit problems, start-ups and companies poised for rapid growth.
How did your business get started?
After working in corporate finance for 14 years and using factoring for seven, Robyn Barrett decided to branch out on her own and begin a firm that would ethically and responsibly offer factoring to small and medium-sized businesses. Barrett wanted to strike out on her own and improve the reputation of factoring, making it a viable and conscientious way of helping businesses grow and get back on their feet. One of her main philosophies then and now is to factor companies for a year or less, to help them get back on their feet so they can thrive without the services of Factors Southwest. Please describe the perfect user of your product or service. The perfect factoring client would be small to mid-size companies, the business-to-business sector, rapidly growing companies, and companies facing credit crunch or having trouble securing traditional lending. In many cases, those users are in business services, manufacturing, janitorial or staffing.
What goals have you set for your business that you hope to achieve in the next 5 years? 10 years? 20 years?
I started Factors Southwest not to be the biggest factoring firm, but to be the best. Our goals are to offer unparalleled customer service and innovative lines of credit. These goals are measured by our success in the marketplace and profitability.
How have you promoted your business in the past?
Factors Southwest networks in the community, building strong relationships with bankers and lenders. We also work closely with all of our clients and communicate as clearly as possible so as to build word of mouth promotion in the business community. We have a website, www.factors-southwest.com, and blog where we promote our business. We also believe in giving back, and this year launched a scholarship for Arizona State University students.
What is your upcoming product strategy?
We are launching a supplier chain finance program. Supply chain financing is a form of trade financing provided by a financial institution, which allows a supplier with strong buyers to pledge invoices as collateral to receive cash at rates lower than what the supplier can get on their own.
What is your marketing strategy?
Our marketing strategy includes social media, with Twitter @factors_sw, on Facebook and through our email newsletter. We have also had great success with public relations campaigns.
How do you measure success?
We measure success by: profitability, customer retention and reputation. Profitability indicates if we are competitive pricing our loans and effectively managing the portfolio. Customer retention indicates we are providing a valuable service and a high level of customer service. Reputation indicates we are holding our company to a high standard and are striving to be ethical lenders.
About FSW Funding
FSW Funding, formerly Factors Southwest LLC, headquartered in Phoenix, Ariz., is a leading factoring firm that offers flexible and affordable lines of credit to small and mid-size business-to-business and business-to-government companies. For more information, visit www.fswfunding.com