EXPERIENCE WITH FACTORING LOANS - WHERE IS MARKET ON RATES/TERMS?

I am looking into Accounts Receivable factoring and have received a term sheet from a group - wondering if anyone here can share perspectives on if this is within market?

-Base Fee: 1.25% of gross invoice amount
-Advanced Rate: 80% of eligible credit approved receivables
-Interest on Advance: Prime + 5.75% (9% APR floor)
-Signup fee: $1,000

Anything off base or other key terms I should be aware of upfront?

For more context I have a CPG business that is mostly e-commerce so I carry relatively low A/R (around $100k) today. But given growth in a new retail channel, I am interesting in factoring (or PO financing). I'm trying to avoid more traditional funding sources (PG, covenants, etc.)

Thanks



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