Have You Checked Out Universal Funding?

Universal Funding Corporation provides invoice factoring solutions for businesses allowing them to stabilize cash flow. Their clients gain quick access to capital to grow their businesses without taking on new debt. Established in 1998, Universal finances SMEs and enterprise level businesses and are longtime members of the International Factoring Association.  LEARN MORE

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Factoring Company Comparisons

Universal Funding Corp Riviera Finance Paragon Financial Group New Century Financial Charter Capital
Rates & Fees
Minimum Rate Percentage (Percent of enrolled accounts charged to you by the factoring company.) 0.55% 2% 1% 1.25% 1.50%
Can Conditions Affect the Minimum Rate Percentage? (Company health and finances as well as other factors such as general industry health may affect Minimum Rate Percentage)

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Initial Percent Funded (Percentage of total invoice the factor will forward to you. Balance minus factor fees are sent after invoice is collected.) 95% 93% 90% 90% 90%
Can Conditions Affect Initial Percent Funded? (Company financial health and other factors may result in a smaller Initial Percent Funded)



No Startup Fee No fee required to start service.)



No Termination Fee (No required to end service with factor.)


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Maximum Overdue Accounts (Some companies will not work with accounts that exceed a certain number of days of delinquency.) 45 days No Maximum 75 Days Not Verified 45 days
Maximum Accounts Receivable (This is the maximum monthly sales for your business that this company will consider to factor for you. Some do not have a limit. Others do not wish to work with companies that have larger accounts receivable.) $5 million $2 million $3 million Not Verified $10 million
Canada (This company works with your business if it is based out of Canada.) × × ×

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Factoring Process
Nonrecourse Factoring (If a company offers this service, you are not responsible for repaying the fronted percent of the accounts receivable that you signed over to the company.) × × ×
No Invoice Minimum (This company does not require a minimum dollar amount of invoices per month.) ×
No Commitment Minimum (Companies with no commitment minimum do not require that you promise your accounts receivable for any predetermined amount of time.)
Online Application (The application process is entirely online. You may have to email or fax paper work to verify information and forward your accounts receivable.)
Fund Within 24 Hrs. {Factor will make funds available to you within 24 hours of completion of goods or service (Up to their established Minimum Rate Percentage)}

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Dedicated Advisor (Your account is assigned a dedicated advisor for a more personal, direct level of service.) ×
Telephone Support (This company provides a telephone number for you to reach out and contact customer service if you need to.)
Live Chat (There is live chat available on the company’s website so you have quick access to assistance.) ×
Email (This company provides an email address to which you can send inquiries and ask for assistance.) ×
BBB Rating (Better Business Bureau current rating.) A+ NR A+ A+ A+

Many businesses should consider using invoice factoring to finance short-term cash flow shortfalls. Invoice factoring is the act of a firm selling its invoices that will be due some time in the future to a factor, a group that pays money for the invoice upfront today. Basically, the firm receives money now for invoices that will be due in the next 30, 60 or 90 days, allowing them to borrow funds on the promise of forthcoming invoices.

This practice of invoice factoring can especially assist small and mid-sized firms with moderate levels of income because it offers flexibility and working capital. By working with an invoice factoring company, those businesses can be approved and receive funds in less than four days. Larger companies can also benefit from invoice factoring services, but the additional cash flow is often more encouraging for startup and growing businesses.

It is fairly simple for most businesses to qualify for and work with invoice factoring companies. By maintaining good credit scores, a track record of successfully paid invoices and no history of tax or legal problems, most enterprises can be approved by invoice factoring companies, pending a few variable requirements.

Some invoice factoring companies are specially proficient in working with particular industries whereas others have developed contacts and funding for larger clients. Businesses must decide which invoice factoring company is right for them, and there are dozens from which to choose. Here are 30 excellent options for invoice factoring companies:

1. Lendvo

  • Specializing in providing aid to digital businesses and online enterprises that need assistance getting their companies off the ground. By providing value for high search engine rankings and website visitors, Lendvo creates custom loans for each specific digital business’ needs. Approval can be completed within 12 hours after the easy application process has been completed, and those businesses can receive loans for amounts ranging from 5000-100,000 dollars. Because Lendvo understands that online business can be variable, terms, rates and repayment plans are flexible and tailored for each firm no matter their prior debts or FICO scores. Lendvo prefers to work with firms that have demonstrable growth potential.

2. USA Factoring

  • USA Factoring offers free startup and waived application fees. In as little as 24 hours, a business can set up a new account and begin applying for up to 97 percent financing. In addition to being an invoice factoring company, USA also offers services for purchase order financing, recourse factoring and non-recourse factoring. Current USA Financing industries include:
    • Auto
    • Agriculture
    • Cable
    • Construction
    • Freight, freight brokering and trucking
    • Government contracts
    • International assistance
    • Janitorial and maintenance
    • Manufacturing
    • Healthcare and medical staffing
    • Oilfield services
    • Security
    • Telecommunications
    • Staffing and temporary employment

3. Universal Funding Corp.

  • The mission of Universal Funding is to provide low rates and exceptional service so that all businesses can receive the funding that they need to be successful. With easy access to funding reports, including the ability to check A/R balance, this invoice factoring company offers rates starting at just 0.55 percent for up to 5 million dollars. In addition to invoice factoring, payroll and purchase ordering financing is available. Universal Funding indicates that funding can be approved and provided in as little as two days, and the company’s over 75 years of combined experience provides 24/7 online and telephone customer support.

4. RTS Financial

  • RTS Financial serves many different industries:
    • Trucking
    • Oilfield
    • Staffing
    • Manufacturing
    • Textiles
    • Distribution
    With 20 years of factoring experience and same-day monetary transfers, RTS offers highly competitive rates and scalable funding as each business grows and requires more funding. In addition, free credit analysis and collections make this invoice factoring company one of the best options for firms just beginning to try this method of factoring. To assist all enterprises, RTS Financial customers receive daily credit alerts and real-time days-to-pay information on all outstanding accounts.

5. RMP Capital Corp.

  • Priding itself on creative funding services aimed to provide individual business’ needs, RMP Capital works with government contractors, trucking companies and small businesses on a regular basis. Applications and accepted proposals can be completed in about a week, offering up to 90 percent of the capital in invoice financing. With online tracking, RMP Capital does not turn away firms with a history of losses, poor credit or back taxes, working with those companies to find creative solutions for their financing needs.

6. Riviera Finance

  • This invoice factoring company provides simple, flexible and effective funding and account monitoring within 24 hours of verification. Riviera Finance provides up to 95 percent of the invoice funding with proper paperwork submitted, as well as credit services and receivables management. Firms interested in participating in all of these services will receive a full-value package specially designed for their unique financial needs. Currently, Riviera Finance serves clients in these industries:
    • Trucking
    • Temporary staffing
    • Oil and gas
    • Small businesses
    With offices across the United States, as well as in Calgary and Toronto, Canada, Riviera Finance is one of the top invoice factoring companies.

7. Paragon Financial Group

  • Known for its quick turnaround time and effective and available customer service, Paragon Financial Group offers flexible plans and up to 95 percent of invoices for enterprises will to pay their startup and usage fees of at least 1 percent per invoice. Some firms will pay more in fees due to a variance base on the firm’s needs and credit situation. However, Paragon Financial Group specializes in working with companies that have prior tax problems and struggle to find funding in other ways. Most enterprises are approved within 24 hours of application, and Paragon provides nonrecourse funding and a dedicated advisor available for telephone, email and live-chat support.

8. New Century Financial

  • New Century Financial offers instant pre-approval to most applying firms with final approval within 24 hours. Once the firms submit invoices, the funding will be sent equally quickly. Clients of New Century include the following industries:
    • Energy operations
    • Transportation
    • Manufacturing
    • Oil and gas
    • Distribution
    • Staffing and temporary staffing
    • Service
    • Technology
    With advances up to 90 percent of the original invoices, companies can decide which invoices or which parts of invoices they want to fund. In addition, the stream-lined approval process and no-term contract provided by New Century contains no hidden fees or extra charges.

9. Interstate Capital

  • Mainly working with the trucking, staffing, manufacturing and government contract industries, Interstate Capital is a leading member of the North American invoice factoring companies. With rates as low as 0.49 percent per invoice and funding up to 100 percent, this invoice factoring company offers some of the highest payments with the lowest interest rate. In addition, Interstate Capital has a quick and easy set-up with no application fee and instant pre-approval available 24/7. Final approval is available soon after selection and acceptance of the offered proposal.

10. Factor Funding Company

  • Small and growing businesses can receive cash funding within 24-48 hours after official approval from Factor Funding Company. Most of their clients are from the private sector, with many home-based businesses and independent exporters. These businesses must be reputable and with good credit and tangible assets to apply and receive resources. Factor Funding Company offers competitive pricing, experienced and dedicated professionals for support 24/7and no hidden fees. In addition to invoice factoring, the company can also provide purchase order funding, equipment finance and asset-based loans, in addition to several other financial services.

11. Crestmark

  • Crestmark provides invoice factoring, as well as other financial services, to the following industries:
    • Transportation
    • Manufacturing
    • Staffing
    • Apparel and furniture
    • Oil and gas services
    • Hospitality
    • Insurance agencies
    With competitive pricing and clients across the United States, Crestmark is an FDIC-insured bank that provides financial solutions quickly and without the hurdles of a traditional bank. Crestmark offers typical factoring services as well as discount factoring to all sizes of companies. Whether a startup business needs daily advances to get finances moving or an established firm needs one larger advance to secure a big client, Crestmark can provide invoice factoring.

12. CIT Commercial Services

  • With 100 years of financing experience, CIT provides invoice factoring, inventory financing and working capital loans, among other services, to middle market consumer product businesses. With options for notification and non-notification factoring, as well as recourse and non-recourse factoring, CIT Commercial Services works with a wide variety of industries:
    • Textiles, apparel and accessories
    • Footwear
    • Furniture and home furnishings
    • Housewares, hardware and consumer electronics
    • Toys
    • Luggage and handbags
    • Service groups
    CIT works with individual businesses to craft the right package to meet all their financing needs. This could include invoice and payment processing, cash management and bookkeeping with electronic data interchange (EDI).

13. Charter Capital

  • Charter Capital makes invoice factoring simple for its clients, providing low rates on same-day funding. The company uses no-term contracts that include no hidden fees, no maintenance fees and personalized service tailored for each client. Charter Capital pays its residuals weekly, offering assistance with important credit decisions and advance rates of up to 90 percent. Interested firms can pre-qualify for funding following Charter Capital’s simple and user-friendly online application. Once the pre-qualification is complete, a professional from the factoring company makes contact by email or telephone within 24 hours of the initial application. This professional and timely service, as well as daily reporting of receipts, makes Charter Capital a top choice among invoice factoring companies.

14. Capital Plus

  • Specializing in invoice factoring services for the construction industry, Capital Plus helps these businesses pay their contracts and bills on time. In addition to invoices, Capital Plus offers factoring for accounts receivable, government contracts, small businesses and assets. By not requiring long-term contracts or monthly minimums, this invoice factoring company is able to provide services for construction businesses with limited or no credit history. In-house underwriting and all-inclusive fees are another benefit of working with Capital Plus to stop unpredictable cash flow cycles and become more competitive in the construction industry.

15. BlueVine

  • Trusted by thousands of small business across the United States, BlueVine creates financing to fit each business with credit lines for invoice factoring of up to 250,000 dollars. Signing up for services with BlueVine provides immediate and free access to a business dashboard from which users can select which invoices to fund and receive funds with a short turnaround time. With BlueVine, there are no reserves, no hidden fees and no minimums, meaning firms can use the invoice factoring as long as necessary. Rebates at rates up to 90 percent are distributed in the same day, and firms can sync their accounting software with BlueVine to keep all their records in one location.

17. 1st PMF Bancorp

  • The 24-hour response time for each application makes 1st PMF Bancorp one of the leaders in quick approvals for invoice factoring. The company specializes in trade financing in addition to invoice factoring, providing working capital to keep businesses running through ongoing cash flow. Since it has been doing invoice factoring for more than 25 years, 1st PMF Bancorp has successfully funded thousands of companies with prime pricing and advance rates, working with domestic and international clients alike. There are no application, startup or termination fees with this invoice factoring company.

18. Bibby Financial Services

  • Bibby Financial Services provides non-recourse invoice factoring nearly everywhere in North America as well as in Europe at 85 percent. Other financial services offered by this company include accounts receivable financing and export receivables financing. There are minimum commitment requirements, but the ability to meet these necessities leads to approval for funding in as little as 24 hours after application. The majority of this invoice factoring company’s clients are startup businesses that are looking for nontraditional methods of lending and funding. By offering telephone and email support, clients of Bibby Financial Services can always have access to dedicated advisors ready to provide guidance and answer questions.

19. Dealstruck

  • Clients with Dealstruck have access to a wide range of services, including invoice factoring up to 250,000 dollars. By working with clients who are frequently denied by banks and traditional lenders, Dealstruck completes the application process and provides funding in as little as three days. Specialists with this company work to offer financial solutions that are designed to solve the individual issues face each business. Because of this process, Dealstruck is able to boast that its clients have gone on to double their annual revenue and staffing by increasing their cash flow through these invoice factoring contracts.

20. Fundbox

  • Working specifically with small business owners, Fundbox strives to put the control of cash flow back with these individual clients rather than with big banks and lenders. Because Fundbox has no application or approval process, its free accounts are completed quickly and easily, making funding nearly automatic. In addition, this company provides 100 percent of the invoice amount, offering funds on current invoices rather than those that are past-due. Fundbox then collects clearing fees to provide the funds directly into clients’ bank accounts, making it ideal for small businesses hoping to grow and become more independent.

21. Triumph Business Capital

  • Clients of Triumph Business Capital currently include firms in the following industries:
    • Manufacturing
    • Staffing
    • Oil and gas
    • Security
    • Wholesalers and distributors
    • Transportation
    • Business services
    Approved clients submit their invoices to Triumph Business Capital, and in less than 24 hours, 90 percent of the funds have been directly deposited into the clients’ bank accounts. Most rates range from 1 to 4 percent, but these are variable since Triumph is part of a large bank. Other possible services with Triumph Business Capital include back office solutions, asset-based lending and equipment financing. With company leaders part of the invoice factoring business for more than 30 years each, firms appreciate this Dallas-based management company for its very capable staff.

22. AeroFund Financial

  • AeroFund Financial is able to offer invoice factoring approval in less than 24 hours after the initial application process. This one-step approval process can provide eligible firms with up to 3 million dollars in funds for invoices and payroll in only one or two days. In addition to invoice factoring, this company also offers freight bill funding, government contracts and accounts receivable lines of credit. The more than 25 years that AeroFund Financial has been in business makes them knowledgeable and able to work with clients of all sizes and incomes to provide high advance rates and funding.

23. Factor King

  • Businesses in New York and Florida can turn to Factor King for all their invoice factoring needs. Industries served by Factor King include:
    • Construction
    • Manufacturing
    • Food and beverage
    • Government
    • Healthcare
    • Staffing agencies
    • Trucking
    • Textiles
    • International businesses
    The low discount rates but high advance rates make Factor King a leader in factoring services. Funds are available in a matter of minutes thanks to the easy, one-step approval process. Factor King does not rely on personal or business credit scores for application approval, helping companies with less-than-perfect debt or credit histories receive funding. Firms work with Factor King to receive a unique hybrid of factoring, cash processing and world-class customer support.

24. Infusion Funding

  • Based out of New Jersey but serving locations nationwide, Infusion Funding works primarily with the construction and staffing industries although it has clients in other fields. The company offers several different levels of invoice factoring, from all-inclusive factoring to selective factoring. Infusing Funding boasts that its all-inclusive option is best for companies that have a need for predictable cash flow over an extended period of time, whereas selective factoring is more appropriate for clients that are not ready for long-term commitment or monthly minimums. With over 25 years in the finance industry, Infusion Funding has no monthly minimums or time commitments, but it can fund up to 5 million dollars to eligible clients.

25. CBC

  • CBC touts its full-service invoice factoring as its main method of financing, but it also offers discount and advance factoring options. The full-service process allows clients flexibility to make decisions to reduce bad debt and high operating expenses through non-recourse and recourse factoring. By working with companies that range in size from small to large, CBC has built a reputation over the last 30 years of managing invoice factoring accounts that are customized for each client’s needs. CBC has offices world-wide, from Charlotte to Los Angeles in the United States, and from Hong Kong to Shanghai overseas that are prepared to work with distributors, manufacturers and service providers.

26. STAR Funding

  • The focus of STAR Funding is on small and mid-sized businesses that deal with wholesale and manufacturing imports and exports in these industries:
    • Agriculture
    • Construction
    • Distribution
    • Food and beverage
    • Healthcare
    • Government
    • Manufacturing
    • Staffing agencies
    • Textiles
    • Trucking
    • Technology
    Clients in these areas find STAR Funding to be transaction- and collateral-oriented, putting the focus on the process of approval and financing up to 10 million dollars. Utilizing non-recourse invoice factoring, STAR Funding protects its clients against credit risk and improves cash flow and management. Purchase order funding and letters of credit are also available through STAR Funding at low risk and competitive rates.

27. Fostorian Business Capital Corporation

  • As an independent commercial lender, Fostorian Business Capital Corporation is able to provide invoice factoring services to companies that are financially stressed or in the beginning stages of existence. The group can secure funding up to 2 million dollars for clients in a wide variety of industries across the United States. Most Fostorian Business Capital clients have annual sales of more than 10 millions dollars and are experiencing rapid growth or cannot meet the criteria for traditional bank underwriting. Most applications are approved in 2-24 hours, and Fostorian Business Capital Corporation works with every client to manage accounts and services.

28. DSA Factors

  • Established in 1964 and factoring since 1986, DSA Factors is one of the oldest invoice factoring companies in the United States. This group serves businesses in the following industries:
    • Agriculture
    • Construction
    • Food and beverage
    • Manufacturing and distribution
    • Service providers
    • Staffing agencies
    • Technology
    • Trucking
    • Textiles
    Its practice of providing non-recourse factoring makes it a popular choice among clients. After the initial application process online, most funding requests are approved instantly, and DSA Factors boasts a 95 percent approval rate. Funds will be provided within 24 hours of receipt of an invoice, and DSA Factors manages the receivables and collection calls for its clients. The flat-rate fee and lack of long-term commitment contract makes this company perfect for businesses just beginning to try invoice factoring.

29. Catalyst Financial Company

  • Serving small businesses in Texas since 1994, Catalyst Financial Company provide online reporting for all of its invoice factoring clients. The company’s competitive rates and promise of no maintenance fees, as well as its promise to convert inactive assets in under 24 hours, make it a popular choice among small businesses. Catalyst Financial Company personalizes all of its factoring services with rebates paid weekly and assistance with all credit decisions. The company is able to offer its clients advance of up to 90 percent in is recourse and non-recourse factoring programs. The prompt funding and refusal of long-term contracts make Catalyst Financial Company a good choice for many businesses.

30. Merchant Factors

  • Merchant Factors works mainly with firms in the technology, textiles and international markets, but this invoice factoring company has been growing steadily since its establishment in 1985. Other industries served include:
    • Apparel, accessories and shoes
    • Consumer electronics
    • Costume jewelry
    • Toys
    • Luggage
    • Housewares, linens and bedding
    • Furniture
    • Computer consulting
    • Printing
    Bicoastal offices in New York and Los Angeles allow Merchant Factors to provide invoice factoring to businesses ranging in size from startups to those with over 100 million dollars in revenue. Because Merchant Factors encompasses four credit departments, it is able to offer up to 100 percent financing on most invoices, as well as non-recourse factoring services. Other services available to Merchant Factors clients include collections handling, purchase order financing and letters of credit.


  1. RamonPerez June 19, 2016 at 5:19 pm - Reply

    The introduction is a bit confusing, however, is also very dense with information. While confusing, as I mentioned, it is attempting to give a rundown of a complicated topic like factoring. To make it less confusing, I would suggest putting quotations around words the reader may not know, such as “factor” or “capital”.

  2. Mobinur June 19, 2016 at 5:21 pm - Reply

    The list itself is very comprehensive. It gives an excellent rundown of each business and what they offer, but it fails to mention anything lacking from the business. In the list itself, is number thirty any better or worse than number one? Also, I understand the list contains 30 items and it’s difficult to squeeze in the good and the bad regarding each business. If that was the reasoning behind not including any cons, that’s acceptable, I’m merely pointing out that there are no cons, only pros.

  3. Rasel June 19, 2016 at 5:40 pm - Reply

    Like I mentioned, this article is very well written and manages to naturally fit a lot of information without seeming forced. That is a skill that doesn’t often come naturally. However, this article can also be a bit long and it doesn’t lay out any cons to any of these businesses.

  4. Biswas June 19, 2016 at 6:24 pm - Reply

    Businesses considering invoice factoring have many factoring companies to choose from, but that choice will depend on what benefits the business is looking for and which factoring companies specialize in their particular industry. There are many to choose from, so as with any business decision, some homework is called for. For example, USA Factoring operates successfully in a variety of industries including auto, agriculture, cable construction, government contracts and more. Specifically because of HIPAA requirements, healthcare and medical staffing business may turn to USA Factoring because of their compliance.

  5. Ismail June 19, 2016 at 6:24 pm - Reply

    As with any decision, new businesses need to consider what attributes the various factoring companies have to offer and which of those is most appealing. Looking for a factoring company that specializes in your business sector will get you started on the right path. Length of time in the factoring sector is a critical indicator, as is the amount of time they require for approval. Rates are always important and can vary widely as noted in this article, from 0.49 percent to 1 percent. Another consideration is hidden fees. The percentage of invoice funding can range from 80 to 95 percent, and there may be application fees and contracts to consider.

  6. Equat1970 July 16, 2016 at 6:39 am - Reply

    The time and effort put in to find a factoring company that you can potentially work with is extensive. The author of this article just saved me a ton of time. I own and operate a trucking business and my accounts receivable has gotten out of hand. Many of my clients require 30 days or more to pay their bills. This often leaves me short on cash. I will most likely be contacting a couple of companies on this list to see how they can help with my current situation

  7. Comentised47 July 19, 2016 at 1:50 pm - Reply

    If only I had seen this article a short while ago. About six months ago, I came to the decision that I just couldn’t survive among the competition. The working capital was just never there. Too many businesses just take too much time to pay their invoices. I finally gave up after being turned down too many times by traditional lenders. Looking at this list, I see that several of these companies could have probably helped me to keep my business going and actually help me to grow.

  8. Ealow1989 August 12, 2016 at 7:18 pm - Reply

    As the owner of a large retail business, I found this article to be extremely helpful. I have never used factoring as a tool in my business. In the beginning, when cash flow was at the lowest, I borrowed from family members or tried to secure more investors. Had I known about factoring, this is what I would have done. After being in business for over 10 years, I do not have a cash flow problem. However, I am now considering expansion and may actually consider factoring my accounts receivable, so I really appreciate the list of companies in which I could potentially work with on this.

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