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Factoring - How well does it work for a New Contractor?

Is factoring as attractive as it sounds, small fees, most qualify, 80 to 85% initial installment? Are there any agreements to sign? Planning to start contracting business, small projects, $1,000.00 to $50,000.00, are there any amounts that are ineligible? Can rates be quoted so contractor can carry the amount in proposal in addition to overhead and markup?

Thanks.

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