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Ian from Eagle Business Credit discusses how to switch factoring companies. He advises checking the current contract for minimum volume requirements or early termination penalties before making a move. If you have time left on your contract, evaluate the costs of exiting. If you've recently signed a long-term deal, moving might be expensive. Ian encourages reaching out for a free review of your contract to assess your options and determine if you can exit sooner than expected. He acknowledges that concerns about funding continuity might make you hesitant to switch, especially when working with a member of the International Factoring Association.
