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Factoring is the most
accessible form of commercial finance available to small business
entrepreneurs. Factoring fees for 30 days are typically the same or
less than accepting a credit card!
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Costs of
Factoring
Factoring costs have dropped dramatically over the last 10
years as more banks and factors compete for clients. Even in
today's credit impaired economy, fees for factoring service
continue to be very modest.
Factoring is transactional with every invoice you submit
for purchase being financed independently from any other.
This makes factoring very much like a credit card transaction.
In fact, factoring fees, that amount charged by the
factor for services, are very similar to credit card fees
based on 30-45 day financing
 with
discount rates on both credit cards and factoring
approximating 2 1/2-3%. When you add in the many additional
services provided by the factor, there are many advantages
to factoring your invoices rather than pressing your
customers for early payment by credit card!
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Copyright
Datamax Marketing Systems 2010.
All rights reserved.
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