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Invoice Factoring Comparison

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Customer SupportExcellentExcellentExcellentExcellentExcellent
Ease of ApplicationExcellentExcellentExcellentGoodGood
Borrower Qualifications
Required Time in Business3 months9 monthsN/AN/A12 months
Required Credit Score530550N/AN/AN/A
Required Business Revenue$10K/monthN/A$50K/yearN/A$500K/year
Product Details
Product TypeInvoice factoringBusiness finance aggregator; offers invoice factoring/financingInvoice financingInvoice factoringAsset-backed Line of Credit
Credit Facility Size$20K - $5MVariesUp to $100K$5K - $2M$250K - $1M
Advance Rate85% - 90%Varies100%Up to 95%N/A
Max Overdue Account12 weeksVaries90 days60 daysN/A
Discount or Interest Rate0.25% - 1.7% per weekVaries$52 - $82 for every $1KStarts at 2%High teens
Additional FeesNoneVariesNonePossible early termination fee1.5% origination fee; possible early termination fee
Contract LengthN/AVariesN/AUsually 6 months1 year
Monthly Minimums/MaximumsNoneVariesNoneNoneN/A
Factor All Invoices?NoVariesNoNoN/A
Recourse or Non-recourseRecourseBothN/ANon-recourseN/A
Notification or Non-notificationBothBothN/ANotificationN/A
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Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

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