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Indeed, in the middle of August, Salton received an amendment to its senior credit facility that provided it with additional borrowing capacity, extended the date for the termination of the facility and extended the date on which the company has to repay its outstanding overadvances on the facility.
Several have been known to put overadvances or risk money into a deal beyond formula.
Also, factors advance funds to their clients prior to maturity of the receivables and also make seasonal overadvances. There is a commission charge for the credit guarantee and the other services and interest charges on funds advanced.
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