Accounts Receivable Factoring?

I have just opened my staffing agency in Georgia. I will need to factor my accounts receivable in order to gain operating capital. What is the worst case scenario that I could face? It seems pretty straightforward as far as I pay a fee for the service, and any late penalties (taken from my reserve). I have a few questions before moving forward.

1. What are the usual pay cycles for hospitals (30days, 45days?). How can I get this info from a hospital?

2. How much can I count on a hospital paying on time? It seems that this would be a more solid/credible approach to begin with, right?

3. How much interest can a startup business expect to pay? 5% ? 7% ?

4. How much is the reserve, and are there any other costs or situations regarding the reserve that I should know about?

5. What are good factoring companies or alternatives to factoring? Pledging?