The Best Invoice Factoring Companies For Any Small Business in 2023

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Home Best Small Business Loans in 2023 Best Invoice Factoring Companies in 2023

Best Invoice Factoring Companies

Lendio carefully selects the lenders it works with in its marketplace, then works with you to find the best invoice factoring options for your unique situation. Read on for stats on each lender and what each lender is best at.
Learn about our methodology for lender selection here.

Lender/Funder*Loan/FInancing AmountMin. Time in BusinessLoan/Financing TermMin. Credit ScoreTime to Funds
(After Approval)
Raistone Capital$50,000-$50 million1 year30-180+ daysN/AAs soon as next day
Gillman-Baguley$50,000-$10 million3 months30 daysN/AAs soon as same day
Eagle Business FundingUp to $5 millionAnyNone, they take on the invoice repaymentN/AAs fast as 48 hours
TBS Capital FundingUp to $10 millionAnyN/AN/ALess than 24 hours

The Best Invoice Factoring Options – All In One Marketplace

Continue reading for detailed information about the lenders listed above.
Ready to apply for a loan? Lendio works with 75+ lenders to find the right option for your business. Click “Apply Now” to fill out our simple application.

Best for Invoice Factoring

Raistone Capital – Invoice Factoring

Funding amount

$50,000-$50 million

Term

30-180 days

Min. credit score

None, based on your accounts receivable

Time to funding

As little as one-day

For businesses looking to pass their unpaid invoices off to another company to collect on, Raistone Capital could be the solution. This allows your working relationship with your customers to stay the same, while essentially getting paid earlier through Raistone, at a discounted rate.

Pros

  • Best for large facility needs
  • Faster access to cash, less waiting
  • Relationship with your customers stays the same

Cons 

  • Minimum funding amount of $50,000
  • Doesn’t build business credit (business owner may be able to self-report)

1% facility fee

Raistone Logo

Raistone Capital – Invoice Factoring

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Funding amount

$50,000-$50 million

Term

30-180 days

Min. credit score

None, based on your accounts receivable

Time to funding

As little as one-day

For businesses looking to pass their unpaid invoices off to another company to collect on, Raistone Capital could be the solution. This allows your working relationship with your customers to stay the same, while essentially getting paid earlier through Raistone, at a discounted rate.

Pros

  • Best for large facility needs
  • Faster access to cash, less waiting
  • Relationship with your customers stays the same

Cons 

  • Minimum funding amount of $50,000
  • Doesn’t build business credit (business owner may be able to self-report)

1% facility fee

Gillman-Bagley – Invoice Factoring

Funding amount

$50,000-$10 million

Term

30 days

Min. credit score

None, based on account receivables

Time to funding

As soon as same day

Gillman-Baguley offers invoice factoring, meaning you could sell them your unpaid invoices and they would pay you a percentage of what those are worth. In this scenario, collection is then out of your hands, and Gallman-Baguley goes on to handle the collection of those invoices. As this happens, your customers know another company is involved in your collections. Result: you accelerate your cash flow and spend less time and resources tracking down clients for payment.

Pros

  • Best for customer experience
  • No minimum credit score
  • No minimum amount of time in business
  • Builds business credit

Cons

  • Minimum funding amount of $50,000
  • Doesn’t work with medical offices or construction

No facility or processing fees

Gillman Bagley

Gillman-Bagley – Invoice Factoring

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Funding amount

$50,000-$10 million

Term

30 days

Min. credit score

None, based on account receivables

Time to funding

As soon as same day

Gillman-Baguley offers invoice factoring, meaning you could sell them your unpaid invoices and they would pay you a percentage of what those are worth. In this scenario, collection is then out of your hands, and Gallman-Baguley goes on to handle the collection of those invoices. As this happens, your customers know another company is involved in your collections. Result: you accelerate your cash flow and spend less time and resources tracking down clients for payment.

Pros

  • Best for customer experience
  • No minimum credit score
  • No minimum amount of time in business
  • Builds business credit

Cons

  • Minimum funding amount of $50,000
  • Doesn’t work with medical offices or construction

No facility or processing fees

Eagle Business Funding – Invoice Factoring

Funding amount

Up to $5 million (No minimum)

Term

No term

Min. credit score

None, based on invoices

Time to funding

As little as 48 hours after approval

Invoice factoring allows you to sell your outstanding invoices to a company for a lump sum of cash. They, of course, take a percentage of those invoices, but then they handle the collection. Eagle Business Funding can do exactly that for your business if you decide to pass your invoices along to a third party.

 

Pros

  • Best for transportation and trucking
  • No waiting around for your customers to pay
  • Fast funding
  • No credit score requirement

Cons

  • Doesn’t build business credit (business owner may be able to self-report)
  • Don’t operate in California

No additional fees

 

 

Eagle Business Funding – Invoice Factoring

Apply Now

Funding amount

Up to $5 million (No minimum)

Term

No term

Min. credit score

None, based on invoices

Time to funding

As little as 48 hours after approval

Invoice factoring allows you to sell your outstanding invoices to a company for a lump sum of cash. They, of course, take a percentage of those invoices, but then they handle the collection. Eagle Business Funding can do exactly that for your business if you decide to pass your invoices along to a third party.

 

Pros

  • Best for transportation and trucking
  • No waiting around for your customers to pay
  • Fast funding
  • No credit score requirement

Cons

  • Doesn’t build business credit (business owner may be able to self-report)
  • Don’t operate in California

No additional fees

 

 

TBS Capital Funding – Invoice Factoring

Funding amount

Up to $10 million (No minimum)

Term

No term

Min. credit score

None

Time to funding

Within 24 hours or less

One of the best invoice factoring companies for varying industries, TBS Capital Funding lets you factor up to $10 million in invoices each month. Plus, the application and approval process is fast, and there’s no minimum requirement for time in business.

Pros

  • Best for varying industries
  • Works with construction, manufacturing and gas industries
  • Fast funding
  • No time in business requirement 

Cons 

  • Restricted industries include medical billing and attorneys

Unknown

 

 

TBS Capital Funding – Invoice Factoring

Apply Now

Funding amount

Up to $10 million (No minimum)

Term

No term

Min. credit score

None

Time to funding

Within 24 hours or less

One of the best invoice factoring companies for varying industries, TBS Capital Funding lets you factor up to $10 million in invoices each month. Plus, the application and approval process is fast, and there’s no minimum requirement for time in business.

Pros

  • Best for varying industries
  • Works with construction, manufacturing and gas industries
  • Fast funding
  • No time in business requirement 

Cons 

  • Restricted industries include medical billing and attorneys

Unknown

 

 

Lendio’s methodology

Wondering how we chose the best? Here’s how we went about evaluating the lenders in our network.

  • Lenders with fast funding time (i.e., those with non-SBA loans that fund in under one week and SBA funding that funds in 2-3 weeks)
  • Lenders with a maximum loan amount of $2 million or less
  • Lenders with a minimum loan amount of $5,000
  • Lenders with fees that are comparable to other similar lenders (Ex:online lenders that have similar fees and traditional lenders with similar fees)
  • Requirements:
    • More flexible lenders:
      • Credit Score: 600
      • Time in Business: 6 months
      • $8,000-$10,000 gross monthly revenue
    • Average lender:
      • Credit Score: 700
      • Time in Business: 1-2 years
      • $20,000-$50,000 gross monthly revenue
  • Flexible repayment options (i.e., early repayment options with daily, weekly, and monthly payment options)
  • Reviews on external websites (an average of 4.5 or higher on TrustPilot)

*The information contained in this page is Lendio’s opinion based on Lendio’s research, methodology, evaluation, and other factors. The information provided is accurate at the time of the initial publishing of the page (November 28, 2022). While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.

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