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Invoice Factoring Loan

oboloo Glossary

Invoice Factoring Loan

Invoice Factoring is a type of financing that enables businesses to borrow money against the value of unpaid invoices. Instead of waiting weeks or months for customers to pay, the lender gives you the money you need now, in exchange for a fee. With an Invoice Factoring Loan, you can get up to 80% of the value of your invoice upfront and receive the balance once your customer pays you. The loan amount is based on a factor rate determined by the lender, and typically ranges from 1.1 to 1.5. Invoice Factoring Loans give businesses access to funds quickly, helping them cover expenses and grow their operations. There’s no need to worry about poor credit scores, as the loan amount is based on the value of your invoices versus your creditworthiness. So make sure you’re getting what you’re owed – with Invoice Factoring Loans.

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