[simonbarker87]

Factoring is very common across sectors with long payment durations. It’s amazing for manufacturing businesses for example who may not get paid for 30, 60 or 90 days after shipping product. The great thing (and where it is nothing like payday loans when done correctly) is that the responsibility and risk of collecting payment falls to the factoring company and not you. We happily factored for years just to offload payment chasing for a tricky customer, well worth the 2%.