Factoring costs can range from 1-6% per month depending on the industry, your business sales volume and the creditworthiness of your customers.

Harper’s fees range from 1-3% per month with advance rates ranging from 70-90% of the gross invoice amount. As you develop a successful track record with us over time, your fees will be lowered and your advance rate increased.

For example, on a $100 invoice, the fee per month could be as low as $1. Assuming the invoice is outstanding for 60 days, the total fee for the cash advanced is $2.

Be careful about factoring fees calculated on a month-by0month basis, which certain factoring companies charge. For instance, an invoice outstanding for 31 days would be charged for 60 days (2 months) because it’s 1 day over 30 days. Harper Partners fees are calculated on a daily basis, so however long the invoice is outstanding (to the exact day) will determine the fee.

For more information on factoring cost, check out our article on small business factoring or our extensive Invoice Factoring 101 guide.