Understanding Factoring Rates
Many business owners attempt to compare APR interest rates to invoice factoring rates. The problem is two-fold. The best factoring company’s rates include Accounts Receivable Management, Credit Services, and Credit Protection; and A bank only helps the most creditworthy company with typically three years of proven profitability. Here is a simplified explanation of how factoring works and what it would cost you. What are Possible Factoring Fees Based on Time Frame? Length of Time for Payment Invoice Factoring Rate 20 days 1.00% 30...
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