Well, bust my buttons! Here I was cattily pointing out the incongruity of having a marketing person for a factoring company admit that they didn’t have much in the way of actual knowledge about economics, finance and, well, factoring.
Well I must recognize a quick study when I see one because this same marketing person at Universal Funding has put up a blog post about the actual cost of invoice factoring that I can truly appreciate.
Frankly, a lot is written about the cost of factoring that would lead you to believe that receivables factoring and loansharking occupy the same level of credibility within credit and financing circles. The post at Universal Funding’s blog does a good job of outlining the costs and putting the costs in perspective with other practices.
This is an informative read and I recommend it. Not that this will carry much weight.