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The Best Factoring Services of 2019

Lori Fairbanks, Staff
March 28, 2019

Invoice factoring can improve your cash flow by unlocking the cash tied up in your pending receivables. The best factoring services approve businesses quickly, fund a high percentage of invoice value upfront and charge low fees. They also provide funding promptly so you have the cash flow you need to take advantage of time-sensitive growth opportunities.

Below is a roundup of our 2019 best picks for factoring services and details about how we chose them. For an in-depth look at which features to consider as you choose the right factoring service for your business, check out our buyer's guide: Factoring: What It Is and How to Choose a Service

Our Best Picks

To help you find the right factoring service, we examined dozens of options. Here is a roundup of the services we think are best in 2019.

Best Factoring Service for SMBs

Best Factoring Service for SMBs
Discount rate: Starts at 0.8 percent of invoice amount per 30 days

Best Factoring Service for Very Small Businesses

Best Factoring Service for Very Small Businesses
Discount or interest rate: Starts at 4.66 percent of invoice amount per week (for its 12-week repayment plan)

Best B2B Factoring Service

Best B2B Factoring Service
Discount or interest rate: 0.25 - 1.1 percent per week

Editor's Note: Looking for information on factoring services? Use the questionnaire below and our vendor partners will contact you to provide you with the information you need:

American Receivable

Best Factoring Service for SMBs


Advance: Up to 95 percent of invoice value; balance (less fees) paid after customers pay invoice

Additional fees: No application or due diligence fees; no monthly minimum

American Receivable has been providing factoring services to small businesses since 1979, so you know you're working with a company that has a proven track record. It charges low rates, starting at 0.8 percent, and gives you fast access to your funds, providing advances within 24 hours of your request. It advances up to 95 percent of invoice amounts, which is better than the industry average of 70 to 90 percent. American Receivable approves businesses within 24 hours, and there are no startup, application, maintenance or repayment fees.
Read our full review of American Receivable


Best Factoring Service for Very Small Businesses


Advance: 100 percent of invoice value; fees added to weekly repayment

Additional fees: Late fees; no application or subscription fees, no early repayment penalty

Fundbox is a newer company that's changing the way factoring is done – and that's great news for very small businesses. Fundbox has a low barrier to entry, so even microbusinesses may qualify for invoice financing from this company. Fundbox's application process is simple: You sign up for a free account and connect your accounting software. Once approved, you can use your online account to draw advances against your unpaid invoices – no paperwork required. Fundbox is rare in that it advances 100 percent of invoices and has friendly repayment terms that reward you for repaying advances early. Current customers rave about Fundbox's excellent support team and quick funding time, as the company wires advances to your bank within 24 hours of approval.
Read our full review of Fundbox


Best B2B Factoring Service


Advance: 85 to 95 percent of invoice value; balance paid after customers pay, minus fees

Additional fees: No application or monthly service fee; no monthly minimum

BlueVine is another factoring company that's modernizing how invoice financing is done. Its minimum requirements are very simple: You must have been in business for at least three months, with revenues of at least $10,000 per month, and have a personal credit score of 530 or better. The company offers flexible factoring, allowing you to request as many invoice advances as you wish within your available credit line, which may be up to $5,000,000. BlueVine also offers lines of credit up to $100,000, though the minimum requirements are higher. BlueVine provides fast, friendly customer service that has earned it five-star ratings from Trustpilot and QuickBooks.
Read our full review of BlueVine

Our Methodology

To help you find the right factoring service, we researched and analyzed dozens of options. Here is an explanation of how we chose our 2019 best picks.

Locating the Best Services

We began by pinpointing companies that are well known in the industry and have positive feedback from customers. We then added companies that appear on reputable online sources, such as review sites and business websites.

Choosing the Best Services

To grow our list, we asked small business owners which factoring companies they use or have worked with in the past. We also asked them what they liked and disliked about these vendors, and whether they'd recommend them to other small businesses.

Researching Each Service

Next, we extensively researched the companies, reviewing each factoring company's website, studying its history and reputation, watching videos, and reading both customer and business reviews before narrowing our list.

Analyzing Each Service

Our review also entailed reaching out to companies as potential customers in search of a factoring service. We spoke to sales and customer service representatives and asked about service terms, pricing details and contract requirements.


Full List of Factoring Services

Here's a full list of factoring services and a summary of what each company claims to offer. This alphabetical list also includes our best picks.

1st PMF Bancorp – 1st PMF Bancorp offers domestic and foreign factoring services. It also provides other financing options such as business loans, trade financing and credit insurance. You can apply online, and the company can approve your application within 24 hours. If your account is approved, you can receive funding within 48 hours. invoicefactoringus.com

Accutrac Capital – Accutrac Capital specializes in serving American and Canadian businesses in the trucking and transportation industry. In addition to receivables invoice factoring, the company provides cash advances, bulk-buy discounts and equipment financing. accutraccapital.com

Alliance One – Alliance One offers factoring services to both small and midsize companies, newly formed or well established, across a variety of industries, including B2B, manufacturing, freight and staffing. Whereas some factoring services are only available in certain regions, Alliance One provides funding services to all 50 states. allianceonellc.com

altLINE – A service of The Southern Bank Company, altLINE provides invoice factoring for many business types, including manufacturing, textile and apparel, staffing, consulting and professional services. The bank offers a free application, same-day funding and competitive rates. AltLINE fits businesses that prefer working with an FDIC-regulated bank, even if they've been turned down by their own bank for a business loan. The invoice factoring program considers the creditworthiness of your customers and works with young businesses, including startups. altline.sobanco.com

AmeriFactors – AmeriFactors has been in business for over 25 years and partners with Gulf Coast Bank & Trust Company. It provides asset-based loans, accounts receivable financing (factoring) and business cash advances. You can apply online and receive a response, or the money transfer, within 24 hours. Once you're an established client, the company can fund your factored invoices in as few as four hours. amerifactors.com

*American Receivable – American Receivable is our pick for the best factoring service for small businesses. It has low fees – starting at 0.8 percent – and advances up to 95 percent of invoice amounts. There are no startup or application fees, long-term contract, or early repayment penalties. You can apply online and receive approval within 24 hours and next-day funding. Read our full review hereamericanreceivable.com

Apex Capital Corp – Apex Capital Corp offers full-service freight factoring to small and midsize trucking companies. It allows you to choose between recourse and nonrecourse factoring and doesn't require you to sign a long-term contract. It provides same-day or next-day funding via ACH, wire, check or Apex fuel card. apexcapitalcorp.com/factoring

Bay View Funding – Bay View Funding offers invoice factoring for businesses in many industries, including manufacturing, oil and gas, trucking, and those with government contracts. It has an online application, and once your account is approved, it can fund your invoice advances in as little as 24 hours. bayviewfunding.com

*BlueVine – Our pick for the best B2B factoring service, BlueVine offers 24-hour approval and no long-term contracts, minimums or hidden fees. To qualify, you must be in business for at least three months, have revenues greater than $10,000 per month, and have a personal credit score of 530 or better. In addition to factoring, a traditional line of credit is available from BlueVine. Read our full review herebluevine.com

CapitalPlus – If your business is in the construction industry and has limited or no credit history, CapitalPlus can help. It advances 80 percent of invoice amounts and provides same- and next-day funding via wire or ACH. It has no long-term contract, no monthly minimums and an all-inclusive fee. capitalplus.com

Charter Capital – Charter Capital offers factoring services for various industries, including trucking and freight services, staffing, manufacturing, and security firms. It has low rates and same-day funding with no long-term contracts, and you can apply online for a quote. chartercapitalusa.com

CIT Commercial Services – CIT Commercial Services is the factoring arm of the CIT Group, which provides numerous banking services, such as commercial lending and consumer banking. Its factoring services include both notification and non-notification factoring, international factoring for businesses that import and export goods, and select credit accounts receivable protection. cit.com

Commercial Funding Inc. – Commercial Funding offers factoring and business funding options. The company serves a wide range of industries, including construction and transportation. commercialfund.com

Coral Capital Solutions – Coral Capital Solutions provides customers with working capital through purchase order and accounts receivable factoring, asset-based loans, contract financing, and specialty financing. The company uses its own equity to quickly provide funding. coralcapitalsolutions.com

Creative Capital Associates – Creative Capital Associates provides factoring services for a variety of businesses, including those in the technology industry and government contractors. It works with small businesses nationwide, including new companies that lack a credit history. Although it can take seven to 10 days for initial funding, which is longer than most factoring companies, later funding can be provided on the same or next day. ccassociates.com

Crestmark – Crestmark is an FDIC-insured bank that offers discount (recourse) and traditional (nonrecourse) factoring services to businesses of all sizes, from startups to those with $100 million in annual sales. You can get advances daily if necessary, and they provide accounts receivable bookkeeping, web-based reporting, customer investigation and approval, and more. crestmark.com

Factor Funding Co. – Factor Funding Co. provides multiple financing services for small businesses, including factoring. It doesn't have a set minimum or maximum factoring volume, and you can choose which invoices to factor. There are no startup or application fees, but it requires a personal guarantee, there may be due diligence fees, and you may have to sign a contract. factorfunding.com

*Fundbox – Our pick for the best factoring service for very small businesses, Fundbox has an easy application process, transparent pricing, small business-friendly repayment terms and top-rated customer support. It's easy to qualify for Fundbox, making it a great choice for very small businesses that may not meet most factoring services' revenue and operational requirements. Read our full review herefundbox.com

Interstate Capital – Interstate Capital offers same-day funding, 24/7 automatic credit approvals and rates starting at 0.49 percent per invoice. The company provides factoring services for a variety of industries, including trucking and freight services, manufacturing and distribution, and staffing. There's no application fee, and customers can apply online. interstatecapital.com

Gateway Commercial Finance – Offering both recourse and nonrecourse factoring services, Gateway Commercial Finance works with businesses in many industries, such as construction, farming, manufacturing and services, including businesses with government contracts. Once your application is approved, initial funding takes up to three days, with subsequent funding provided within 24 hours. There are no invoice minimums or minimum balance requirements. gatewaycfs.com

Harper Partners – Harper Partners provides factoring services to businesses that plan to factor $5,000 or more of invoices per month. It works with many different business types in the U.S. and Canada, including those in media and advertising, B2B software, business services, and hardware technology. Its rates range from 1 to 3 percent per month, and it advances 70 to 90 percent of invoice amounts. joinharper.com

New Century Financial – New Century Financial charges no application or startup fees, has no long-term contracts or termination fees, and lets you choose which invoices you want funded. You can apply online to be approved within 24 hours. The company advances up to 90 percent of invoice amounts, based on the credit of your customers. newcenturyfinancial.com

Paragon Financial Group – Paragon Financial Group provides factoring services for fast-growing businesses in many different industries, including construction supply, manufacturing, distributing and staffing. It offers 80 to 90 percent cash advancement, depending on your industry, and can approve your application in 24 hours. The company also offers credit protection, payroll funding and more. paragonfinancial.net

Porter Capital Corporation – Porter Capital offers accounts receivables factoring and inventory financing to many business types, including staffing, manufacturing and distributing, and oil field services. Its sister company, Porter Billing Services, provides factoring services to the transportation industry, with both recourse and nonrecourse factoring options. portercap.netporterbillingservices.com

Riviera Finance – Riviera Finance has been financing small businesses, including startups, since 1969 and has more than 20 regional offices in the U.S. and Canada. It offers 24-hour funding and a standard cash advance of 92 percent of invoices. Using its online account management system, you can check the status of your accounts and submit invoices for payment 24/7. rivierafinance.com

RMP Capital Corp. – RMP Capital Corp. has different factoring services tailored to specific businesses, including public works contractors, service providers, trucking companies, small businesses and other factoring companies. It offers advances up to 90 percent of invoice amounts and works with both new and established companies, as well as those with poor credit. rmpcapital.com

RTS Financial – RTS Financial provides factoring services for businesses in many industries, including trucking and transportation, oil field services, and textile and apparel. It offers funding within 24 hours and advances up to 97 percent of invoice amounts. rtsfinancial.com

TCI Business Capital – TCI Business Capital offers invoice factoring, accounts-receivable financing, lines of credit, and business loans to small and midsize companies in the U.S. and Canada. It works with businesses in many industries, such as technology, renewable energy, trucking and freight, staffing, oil field services, and government contractors. Its invoice factoring lines are between $50,000 and $20,000,000. It can approve most factoring applications in 30 minutes or less, and once your account is set up, you can get invoice advances within 24 hours. tcicapital.com

Universal Funding Corporation – Universal Funding provides factoring services to businesses in many industries, including manufacturing, wholesale and distributing, oil and gas, and trucking. It has no startup or application fees, though it charges for credit approvals and has a lockbox fee. Its rates range from 0.55 to 2 percent for the first 30 days, and it advances 95 percent of invoice amounts. Approval can take as little as two business days. universalfunding.com

USA Factoring – USA Factoring offers recourse and nonrecourse factoring services for many industries, including agriculture, construction, trucking and health care. Its rates start at 0.59 percent, and it advances up to 97 percent of invoice amounts. It doesn't charge an application fee, and once your account is established, it can provide funding within 24 hours. usafactoring.com

Best Picks

Full List of Factoring Services


American Receivable

American Receivable offers competitive rates, high advances and fast, reliable funding.


Fundbox offers fast funding, an easy application process, transparent pricing and small-business-friendly repayment terms.


BlueVine offers invoice financing and lines of credit for B2B businesses. It has an easy application process, good rates and doesn't require a contract.

Editor's Note: Looking for information on factoring services? Use the questionnaire below and our vendor partners will contact you to provide you with the information you need:

Lori Fairbanks
Lori Fairbanks, Staff

Lori Fairbanks has years of experience writing and editing for both print and online publications. After graduating from Brigham Young University with a Bachelor of Arts in English, she worked as a magazine editor and then as a freelance writer and editor for a variety of companies, including marketing firms and a medical university. She now writes for Business.com and Business News Daily about financial systems and services for small businesses, such as accounting software, credit card processing and point-of-sale systems.