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  Rapid Finance Invoice Factoring

Rapid Finance Invoice Factoring

in Accounts Receivable Financing from Rapid Financial Services

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Rapid Finance Invoice Factoring

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in Accounts Receivable Financing from Rapid Financial Services

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Highlights
Loan Amount $25,000 - $10,000,000
APR  (Fee or Charge Based Product) N/A
Minimum Months in Business 6
Minimum Revenue $5,000

Rapid Finance Invoice Factoring Review

Rapid Finance Invoice Factoring is offered by Rapid Financial Services, a direct lender founded in 2005 and based in Bethesda, MD. Rapid Finance Invoice Factoring is available in 50 states (and Washington, DC).

Rapid Finance Invoice Factoring FAQ

What APRs does Rapid Finance Invoice Factoring offer?

The cost of accounts receivable financing is typically calculated as a percentage of the invoice value, which is charged monthly. Pricing varies widely depending on several factors, such as how long you it takes to repay the invoice advance.

Does Rapid Finance Invoice Factoring charge an origination fee?

Yes, Rapid Finance Invoice Factoring charges a origination fee of 0% to 10% of the total amount advanced. Rapid Finance Invoice Factoring deducts the fee directly from your merchant cash advance amount before disbursing merchant cash advance proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

How much cash can you get from Rapid Finance Invoice Factoring?

Rapid Finance Invoice Factoring advances with cash amounts start at $25,000 and go up to $10,000,000.

What type of invoice collection structure does Rapid Finance Invoice Factoring offers?

Rapid Financial Services collects payment for invoices directly from clients.

What types of invoices does Rapid Financial Services accept?

Rapid Finance Invoice Factoring accepts the following invoice type when applying for accounts receivable financing.

  • Business-to-business invoices (B2B).

What trade credit terms does Rapid Financial Services accept?

Rapid Financial Services accepts the following trade credit term. Trade credit terms are usually expressed as Net D, where D stands for the numbers days after which payment of the invoice is expected.

  • Net 30 days.
  • Net 60 days.

What is the estimated funding time?

Rapid Finance Invoice Factoring can approve (or deny) an application within 24 hours and fund within 1 business day of approval.

What are the business financing requirements for Rapid Finance Invoice Factoring?

To apply for Rapid Finance Invoice Factoring, the borrower needs to provide the following business document:

  • Business license
  • Business bank account

What limitations does Rapid Finance Invoice Factoring set on the purpose of the loan?

Rapid Finance Invoice Factoring considers accounts receivable financing applications for business purposes, such as:

  • Business debt refinance
  • Equipment purchase
  • Hiring
  • Inventory
  • New location
  • Payroll
  • Product or service expansion
  • Technology investment
  • Working capital
Rapid Finance Invoice Factoring Disclosure: Depending on the product, RapidAdvance offers a range of terms. For term loans and merchant cash advances, the average time frame is 3-24 months. However, SBA loans have longer terms between 1-10 years and commercial real estate loans range from 15-30 years. RapidAdvance requires businesses to be in business for at least 12 months for its loan products and as little as 6 months for its merchant cash advance products. RapidAdvance charges a fixed fee for its financing regardless of the time it takes to pay-off the product. Because of this, there is no pre-payment fee; however, you will still be required to pay the entire amount owed, including the fixed fee, regardless if you pay off the financing sooner.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee Amount $0
Origination Fee (%) 0% - 10%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 500 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Invoice Collection Structure Collected By Lender Directly
Invoicing Type B2B
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Months in Business 6
Minimum Revenue $5,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Approval Speed 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
Funding Time Range Starting at 1 day
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Credit/Debit Card
  • Bank Transfer
Invoice Qualifications
  • Net 30 Days
  • Net 60 Days
Loan Amount $25,000 - $10,000,000
Loan Term 3 - 60 months

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