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  The Business Backer Invoice Factoring

The Business Backer Invoice Factoring

in Accounts Receivable Financing from The Business Backer

Unaffiliated

The Business Backer Invoice Factoring

Unaffiliated

in Accounts Receivable Financing from The Business Backer

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Highlights
Loan Amount $5,000 - $2,000,000
APR  (Fixed APR) 3.3% - 6%
Minimum Months in Business 12
Minimum Revenue $180,000

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 is 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?

The Business Backer collects payment for invoices directly from clients.

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
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Availability

  Available in 33 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio

Feature Breakdown

No Origination Fee
Origination Fee (%) Starting at 0%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 560 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Invoice Collection Structure Collected By Lender Directly
Invoicing Type B2B
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Months in Business 12
Minimum Revenue $180,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • U.S. Tax Identification Number
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Working Capital
  • Inventory
Approval Speed 48 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Credit/Debit Card
  • Bank Transfer
APR (Fixed APR) 3.3% - 6%
Advance Rate Starting at 90%
Factor Rate 1.2 - 1.47
Invoice Qualifications
  • Net 10 Days
  • Net 15 Days
  • Net 30 Days
Loan Amount $5,000 - $2,000,000
Loan Term 4 - 120 months

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