If that were true then I would have been out of business dozens of times over the years. Factoring has been a god send to me when i've needed it. And I did not have to give away a piece of my business either, I retained 100% ownership.
But then you don't own any SPNG so what do you care. I do and I don't want to give away ownership to a third party. I'll take factoring over watered down stock anyday.