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We tried all the top factoring companies and narrowed it down to three.
Based on
Together, they cover the widest range of features needed by small businesses.
Qualification How Much CanYou Borrow
Timeframe Advanced Cash For You
∂Best
Factoring Companyfor more than $25K
Apply forBlueVine
NOW
∂Work with new businesses.
Reasonable prices. Higher credit lines requested = better price.
Full Review Here
∂Best
Factoring Companyfor under $25K
TryFundbox
NOW
∂Ideal for small, recurring cash
flow gaps. They advance 100% of invoice, pay it off in 12 weeks.
Full Review Here
∂
Why We Chose BlueVinefor more than $25k
credit lines
Overcome cash flow gaps with
large amounts of money
Don’thave to pay week over
week
Allows to convert unpaid
invoices into immediate
workingcapital
Full Review Here
∂Why We Chose Fundboxfor advances under $25k
Advances100% of invoice
vaule. Pay in12 weeks
installment.
No credit check is required.
At least6 months of accounting history to
qualify.Full Review Here
∂When to useCommercial Capital LLC
Factoringrates rangefrom 1.5%to 5%/mo.
Advancefrom 70 to
98.5% of invoice upfront
Like a traditional
invoice factor
Pricing structure is
based highly on industry and
volume.
Full Review Here
∂
BlueVine vs. Fundboxvs. Commercial Capital
In-Depth Review
∂Will I Qualify?
Two requirements that apply across
the board are:
2. Your customers must be creditworthy.
Nextivalets you send a script for their production team to record it professionally
Direct callersto the right department
1. Must invoice customers for goods or services.
Full Review Here
US-based business with at
least 6 months in operation
Use a supported bookkeeping application
to send invoices
No personal credit checkis required
Full Review Here
US-based business & sell
products/services in the US or Canada
Invoices must be due/payable within 90
days or less
Works with startups. Does not
work with medical orhealth businesses
Have at least
530 credit score
Full Review Here
Clients must have good commercial credit.
Invoice must be due and payable within 90 days or less
Invoices must be free of encumbrances/liens.
Full Review Here
∂How Long It Will TakeTo Get Your Money
You can be approved within hours
Funds takes 1-3 business
days to reach your account
You select which invoices you
want to submit for funding.
Full Review Here
Your first invoice for funding
can be approved within 1 business day
Funds take 1-3 business
days to reach your account
Bluevine offers ACH (Free) and
Wire Transfer ($15/wire)
Full Review Here
You must apply by phone to
get a quote and send required
docs via email, fax or mail
Approval process takes
about 1 week.
Funds takes 1-3 business
days to reach your account
Full Review Here
∂How Much Can You Borrow?
As you repay, you can continue to borrow against
your credit line
Credit line represents the
max. amount of capital you can borrow at once
Credit lines of $100 to $25,000
Full Review Here
Credit lines of $100 to $25,000
As you repay, you can continue
to borrow against your credit
line
Credit line represents the
max. amount of capital you can borrow at once
Full Review Here
Theyadvance you
70 - 98% ofthe invoice
upfront It depends on the size of the
transaction, industry and other risk
parametersYou’ll receive the
balance of the invoice when your
client pays
Full Review Here
∂Costs
1.5% to 5%per month
Dont Change the colors
Learn more about Length of factoring period and
Advance rate Here.
DiscountRate
Conclusion
Based on their superior service if you need above
or under $25k respectively.
After reviewing the top factoring companies we
chose Bluevine & Fundbox as the best
companies
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