good Non-recourse factoring

I agree assuming it’s a constant thing. As far as waiting on money it’s really an investment in your company only recieved when you close the doors.

 

Bankrate . Com has different calculators to play with and figure exactly how much any loan is really costing you. 5% non recourse factoring if done consistently works out to an actual annual rate of around 9 %

 

48% it’s 4%. Very simple. $300,000.00 to the truck x.04% is $12,000.00 to Loves. Just saying.

Be Safe Out There



Captain Dave

 

Okay, if you say so...

Let's try it another way.

Let's say for example you have a LOC that has an APR of 4%.

You borrow, in your case $25,000 on the 1st of the month and pay it back 30 days later.

How much interest will you have to pay to use that $25,000 for the month on a 4% APR?

Is it $1,000?

Anyone?

 

You are way off. The interest on a 1 month loan of $25,000 with a 4% APR is $83.33
There are plenty of loan calculators out there if you want to verify the numbers.
Here is the one I used.

https://www.bankrate.com/calculators/mortgages/loan-calculator.aspx

 

You just made my point!

Now tell me what the APR would be IF a person paid $1,000 of interest on the same $25,000.

Anyone?

 

Using the same calculator, and keeping increasing APR until $1,000 is reached does come up to 48% APR like posted above.
Sad thing is, people still see this as a good deal....
Personally I wish I was rich enough to give away money to the banks that are already so well off they think in billions of dollars. Anything less is pocket change.

 

What we aught to be doing is in the factoring and broker business, and quit pushing these trucks down the road. More money in either of these occupations than it is trucking, making money off the backs of truckers.

The bottom line is, if you can get to a position where you have at least 2 months of expenses saved up, you can ween yourself off of these loan sharks. After 30-45 days, and you keep running, you will have a steady supply of checks coming in. In all honestly, if you don't have 2 months of expenses on hand, you are dangerously close to going broke anyway.

 

Total cost interest $83.00. + any cost for loan origination/ Closing etc

 

just signed up with a Apex and so far they have been good