Any type of loan is a commitment from your side. Some of these commitments are defined over short periods of time, while others go in the long run. In such situations, you have to decide between flexible and fixed loans. This idea has nothing to do with your potential interest rates. Instead, it is directly proportional with the payment scheduling and conditions. Do you have the flexibility to pay everything earlier? How about overpaying for an early settlement? A lot of people choose this option in order to get over the commitment faster. If you choose a loan extending over many years, you risk losing this level of flexibility, so you will basically be stuck. You might, however, get the possibility to pay everything earlier, but most lenders will come up with penalties and fees, which tend to be a little overwhelming.
On the other hand, there are no commitments associated with factoring procedures. In other words, you just come up with the invoice you issue and hand it over to the factory firm. You get money right away, yet you will obviously not get as much as you expected. After all, the lender is not trying to help you out, but to make money.