In recent years, factoring companies have witnessed exponential growth. One significant reason is the increasing need for businesses to improve cash flow management. Additionally, the rise of small and medium-sized enterprises (SMEs) seeking alternative financing options contributes to the expansion of factoring firms. The global factoring services market stood at USD 3,566.99 billion in 2022 and is projected to witness a robust CAGR of 9.2% from 2023 to 2030.
As a result of the growing number of factoring companies, selecting the most suitable one necessitates a comprehensive evaluation. Factors to consider include the company's experience, the range of services it offers, available locations, invoice verification process, etc. Each business has unique needs, and aligning with a factoring company that understands these requirements is vital for a successful partnership.
Invensis recognizes the significance of this decision and has compiled a comprehensive list of 10 top factoring companies in USA to guide businesses through the selection process. The compiled list encompasses key criteria to evaluate when choosing a factoring company, facilitating an informed decision-making process for businesses of all sizes.
Before exploring the top 10 factoring companies in USA, let's discuss Invensis and its commitment to aiding businesses in various factoring support operations along with various key specifications.
As a factoring support services provider, Invensis has vast experience in delivering support solutions to factoring companies. Our invoice factoring support solutions have assisted many factoring businesses in making the right decisions in financing their clients. We extend our comprehensive back-end support services, focusing on industries such as logistics, trucking, staffing, healthcare, manufacturing, and more.
Since 2000, Invensis has been a stalwart in factoring support, serving clients in the US and European markets. Our list of services includes invoice audit/validation, pre-purchase verification, collection follow-up, onboarding/underwriting, post-purchase verification, and more. With this expertise, streamlined approach, and industry best practices, we have earned a reputation among our clients.
Here is a list of ten notable factoring companies in the USA:
Founded in 1969, Riviera Finance is a business financing company specializing in full-service, non-recourse invoice factoring. With over 25 offices across the US and Canada, they offer expert accounts receivable management and credit services. Riviera Finance is dedicated to providing face-to-face service and tailored financial solutions to small and medium-sized businesses, ensuring a comprehensive package that includes invoice processing and receivables management.
Since 1995, RTS Financial has been a trusted partner for businesses seeking financial solutions in various industries. With over 25 years of experience, they specialize in accelerating cash flow for trucking, oilfield services, distribution, textiles, staffing, and manufacturing. Offering bundled services, they ensure lower factoring rates, faster payment processing, and improved fuel savings through an industry-leading fuel card program. Their commitment lies in helping companies thrive by efficiently managing operating expenses and meeting payroll obligations, ultimately supporting growth and expansion.
Founded in 1936, The Southern Bank has been a trusted community lender in Northeast Alabama for 88 years. Recognizing the demand for non-traditional commercial credit, the bank introduced altLINE in response. Operating within FDIC-insured and state-regulated parameters, altLINE offers the flexibility of an independent financing company coupled with the cost advantages and service excellence of a community bank. Specializing in working capital solutions, altLINE collaborates with professionals nationwide to deliver invoice factoring and A/R financing services to industries such as staffing, small businesses, professional services, medical receivables, and wholesale and distribution.
Since 1994, Scale Funding has been a premier provider of factoring solutions for small to midsize companies nationwide. Recognized for expertise, they offer swift invoice factoring to fuel business growth. With a distinctive get-it-done culture, Scale Funding stands out for reliability, flexibility, and exceptional customer service. As a division of Scale Bank in Edina, Minnesota, they boast the flexibility and capital to cater to the needs of expanding clients.
Established in 2004 by private investors with notable backgrounds in transportation and commercial finance, Triumph specializes in swift invoice factoring. Serving owner-operators, fleets, and freight brokers, Triumph empowers businesses to efficiently manage cash flow, ensuring financial stability. Offering a comprehensive suite of solutions customized to both immediate requirements and long-term objectives, Triumph has been a trusted financial partner for nearly two decades, assisting thousands of trucking companies in achieving their financial goals.
Since 2006, eCapital has transformed the financial landscape for small to medium-sized businesses, ensuring they access vital funding swiftly. Recognizing the imperative of financial agility, the company blends innovation and expertise to empower businesses in real-time decision-making. Evolving over 15 years, eCapital is now a prominent alternative lender, strategically acquiring resources to prioritize clients' distinct needs.
Founded in 2014, FundThrough empowers businesses with accessible working capital on their terms. A Toronto-based financial services company, FundThrough operates an online lending platform, delivering swift, convenient, and transparent financing solutions to small businesses. Specializing in accounts receivable, it enables businesses to invest in and expedite their growth. FundThrough's mission is to ensure businesses always have the financial support they need to thrive in the dynamic business landscape.
J.P. Morgan's Supply Chain Financing program, established in 1994, has been a global leader in servicing clients and their suppliers. With a proven track record, JPMorgan Chase & Co. stands out as a premier factoring company in the US. Offering comprehensive solutions in working capital management, lending, and factoring services, JPMorgan is dedicated to fostering successful financial partnerships worldwide.
BlueVine, established in 2013 and headquartered in Jersey City, New Jersey, offers crucial working capital to small and medium-sized enterprises. Through its online, cloud-based platform, BlueVine facilitates quick access to funds for purchasing inventory, covering expenses, and expanding operations. Specializing in invoice factoring, the company ensures swift advances on outstanding invoices, empowering businesses with financial flexibility and support.
Established in 2014, Premium Merchant Funding is a New York City-based lending institution catering to small businesses. With a comprehensive suite of services, PMF specializes in merchant cash advances, small business loans, SBA loans, equipment financing, factoring, purchase order financing, and commercial mortgages. Beyond financial solutions, the firm extends support in credit card processing, personal and business credit repair, payroll services, search engine optimization, and web development, demonstrating a commitment to holistic business growth and success.
To know more about Invensis and our factoring support services, contact us today!
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