Q: How does your pricing work? A: Unlike a traditional credit facility, our factoring agreements do not charge an interest rate or APR. Endeavor charges a fee for service. While more expensive than a traditional bank line of credit, our fee structures can often be significantly lower than fees charged by credit card companies for invoices paid by purchasing card. Fees can be structured to meet a variety of cash-flow needs and client payment terms. A customized proposal will detail all fees and services included.
Q: Can you accommodate a 'daily fee' structure? A: Yes. Several clients prefer a daily fee structure to accommodate for widely varying payment trends amongst their client base. This structure often provides the least expensive overall financing cost while providing the greatest incentive for you to collect on invoices outstanding.
Q: What if a client of mine wants to pay by credit card? A: Endeavor can process the payment for you. In these instances we simply 'pass-through' the processing cost to you (typically around 3% for most forms of credit card payment). Generally, these clients are non-factored as they pay their invoices by card upon receipt. As a non-factored invoice there would be no additional charge from Endeavor for funding.
Q: How do I know the total cost of funding on a particular invoice or client? A: Our online reporting system provide real-time access to your accounts receivable performance. As payments are received through our secure lock-box they are posted to your account. Total fees for the invoice are also updated. The system enables multiple methods of parsing so you may view invoices by client, date, type, etc. During the hours of 8:00am - 5:30pm EST Monday through Friday, your customer service representative can answer any questions you may have as well.
If your questions are not answered here, please contact us to discuss your unique needs and circumstances.