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How much does it cost?
Factoring fees are charged on business turnover. This fee may range from 1 – 5%.
For example if a $10,000 invoice is factored and the approved fee is 1% then a fee of $100.00 will be charged.
The administration fee is charged to cover the costs of administering the ledger. It will be charged regardless if you draw on the funds you have available or not. If for any reason you do not think you will be using much of the funding you will have available, let us know and we will reveist the factoring fee that you pay accordingly.
Interest is charged on funds used in a similar way that you pay interest on your bank overdraft. The interest rate will be similar to a bank overdraft interest rate (that it not secured by property