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In this tutorial, Ian Johnson from Drive Success discusses the differences between financing receivables through a bank versus through receivables factoring, an asset-based financing solution. He addresses customer inquiries about comparing these options and outlines the benefits of factoring. An example, detailed on his website, provides a sample Excel spreadsheet for users to input variables such as interest rates and invoice collection days. Johnson explains that banks charge a cost of capital, using a yearly interest rate of 6%, which translates to a daily interest rate of approximately 0.0164%. The tutorial aims to clarify how to conduct a financial analysis when deciding between these financing methods.
