Invoice Factoring News
BRT Financial Specializes in Business Loans.
There are 15 easy ways to receive Business Loans with the EasyCash Program BRT offers:
1 ) Commercial Real Estate Financing
2 ) Equipment Leasing
3 ) Invoice Factoring
4 ) SBA Loan Program (Franchise Financing) (504 & 7A Programs)
5 ) Accounts Receivable Financing
6 ) Medical Practice Loans
7 ) Medical A/R Financing
8 ) Dental Practice Financing
9 ) Software Leasing
10) Visa / MasterCard Financing
11) Auto Finance
12) Debt Consolidation
13) Florida Residential Refinance
14) Purchase Order Financing
15) Other Financing
Hope you enjoy this article…
Invoice Factoring Rates
By Kent Pinkerton
Invoice factoring rates are the rates charged by invoice factoring companies for the services offered and cash advanced to businesses. Invoice factoring, otherwise called invoice discounting, is a business strategy by which a company’s invoices or receivables can be signed off to an outside company, thereby securing immediate cash. Invoice factoring provides ready cash, which otherwise would be available only after a stipulated period.
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The service charge is usually a certain percentage of the sales factored and the service charge is calculated depending on the annual turnover of the company, the number of invoices and the number of customers. The interest charges are along the lines of normal secured bank overdraft rates. Invoice factoring rates are time-sensitive and are usually a fixed percentage of the total invoice, usually calculated in 30-day increments.
The best plan for factoring fees is that based on a per day basis. The average per day factoring fee may be between 0.095% and 0.085%, and continues to be so as long as the invoice is with the factor. Some companies charge fees on a per 30 day basis; this is not a very agreeable arrangement because there is minimum flexibility. If the customer pays after 31 days, one will be charged for 60 days. However, the interest per day scheme is advantageous because one has to pay only per day.
Invoice factoring rates vary widely from lender to lender, with commissions and incentives to lure customers. Most companies make invoice factoring quotes available within 24 hours. Alternately there are invoice factoring services which aid in locating the quotes most ideal for a particular company. It is worthwhile to avail of the services of these organizations since they can minimize the effort of hunting for an ideal invoice factoring rate.
Invoice Factoring provides detailed information on Invoice Factoring, Invoice Factoring Companies, Invoice Factoring Discounting, Invoice Factoring Rates and more. Invoice Factoring is affiliated with Loan Factoring.
Article Source: http://EzineArticles.com/?expert=Kent_Pinkerton
Thanks for reading the article and BRT Financial hopes you have taken action to increase your Business’s profits by Factoring.