Funding offers are easy to compare badly. A lower periodic payment, a bigger advance, a shorter application : each can look like a win while hiding a worse deal over the full term.
This framework keeps the comparison honest: total cost, payment fit, flexibility, and what happens when things go wrong.
Compare total repayment, not the periodic payment
A weekly remittance structure might feel light week to week yet repay far more in total than a monthly structure with higher payments. The only honest comparison is the total amount repaid versus the amount received : plus any fees.
Understand the rate you're being quoted
Some short-term structures quote a 'factor rate' (e.g., 1.2) rather than an annualized rate : meaning you repay 1.2 times what you received, regardless of how fast you repay. An annualized rate behaves differently. Don't compare a factor rate to an interest rate as if they were the same thing.
Ask the five questions before signing
- What is the total amount I will repay, including all fees?
- What exactly happens if I repay early : is there any benefit or penalty?
- What happens if a payment is late or missed?
- Is there a personal guarantee or blanket lien?
- What is the process and cost if I need an extension?
Frequently Asked Questions
Want to explore your options?
If this topic relates to a funding need you have, you can begin a funding request through Kennify's financing partner at any time.