The Business Backer Invoice Factoring

The Business Backer Invoice Factoring Review

The Business Backer Invoice Factoring is offered by The Business Backer, a financial services company founded in 2007 and based in Cincinnati, OH. The Business Backer Invoice Factoring are available in 33 states (and Washington, DC).

The Business Backer Invoice Factoring FAQ

What APRs does The Business Backer 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.

The Business Backer has a factoring rate starting from 1.2% to 1.47%. This is a fixed APR product with an estimated equivalent APR that ranges from 3.3% up to 6%.

How often does The Business Backer Invoice Factoring process payments?

The Business Backer Invoice Factoring receives the payment through the Merchant's monthly invoice receivables, which means The Business Backer Invoice Factoring collect the payment through the merchant's customer invoices.

Does The Business Backer Invoice Factoring charge an origination fee?

No, The Business Backer Invoice Factoring does not charge an origination fee. An origination fee is what some lenders charge for processing, underwriting, and funding a business financing product. Typically fees range from 0.5% to 5% of the total amount advanced. Whenever possible, go with lenders that don’t charge origination fees.

How much cash can you get from The Business Backer Invoice Factoring?

The Business Backer Invoice Factoring advances 90% of the total account receivables amounts, with cash amounts start at $5,000 and go up to $2,000,000.

What type of invoice collection structure does The Business Backer Invoice Factoring offers?

What types of invoices does The Business Backer accept?

The Business Backer Invoice Factoring accepts the following invoice type when applying for accounts receivable financing.

• Business-to-business invoices (B2B).

What trade credit terms does The Business Backer accept?

The Business Backer 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 10 days.
• Net 15 days.
• Net 30 days.

What are the business financing requirements for The Business Backer Invoice Factoring?

To apply for The Business Backer Invoice Factoring, the borrower needs to provide the following business document:

• Business license
• Business bank account

What limitations does The Business Backer Invoice Factoring set on the purpose of the loan?

The Business Backer Invoice Factoring considers accounts receivable financing applications for business purposes, such as:

• Equipment purchase
• Inventory
• Lease improvement
• New location
• Working capital