Spongetech Delivery Systems Inc (fka SPNGQ)

[happyguy72]

"I would LOVE to have a deal like that, I would gladly lend someone money secured by receivables from a large company for 4.67% a shot. It is almost theft for such an almost riskless high return. "


And so you can... open a 'factors business'.... just remember you are 'buying' the invoice... you are not 'lending' anybody any money... and then you can worry about collecting on that invoice you just bought...

i guess... think about it this way....when you open up your factors biz, someone will present you with a 30,000 invoice... the basic rate is about 2%... so... you are gonna fork over 29,400 in cash... and get that invoice in return... now you are gonna sit and wait for the full 30k to come back you in the net 30 or 45 time frame.... providing you don't have to go knock on any doors to recoup your dough...

great to hear you have found something worthwhile... good luck in your new endevour...

hg>