When considering financing options, invoice factoring is usually the easiest one for which to qualify. However, even within invoice factoring, there are differences. Some invoice factoring companies even require a minimum credit score. We selected the easiest invoice factoring companies to qualify for based on credit score, time in business, and annual revenue.
The easiest way to find the right factoring company is by working with a financing broker like Lendio. You simply submit some basic information and receive financing offers from up to five lenders, including easy factoring providers, that are willing to work with your business.
Easy Invoice Factoring Providers
Providers | Minimum Credit Score | Minimum Time in Business | Minimum Annual Revenue |
|---|---|---|---|
None | None | None | |
530 | 3 months | $100,000 | |
None | 3 months | $360,000 |
We could not identify any easy invoice factoring companies with no Uniform Commercial Code (UCC) filing requirements.
How We Evaluated
To select the easiest invoice factoring companies to qualify for, we focused on the basic requirements first, like minimum credit score. Then, we considered the simplicity and accessibility of the application process. Finally, we selected providers that offer fair terms and costs on funding to small business owners.
FundThrough: Best Overall
 | |||
Maximum Funding | Unlimited | Advance Rate | Up to 95% |
Discount Rate | 1% or more per transaction | Minimum Annual Revenue | None |
Expected APR | 10% to 80% | Funding Speed | Next day |
FundThrough has a simple application process and offers an unlimited amount of funding for small business owners with virtually no minimum requirements. It doesn’t have a minimum credit score requirement or a time-in-business requirement. FundThrough stands out because it also doesn’t have a minimum annual revenue requirement, making it accessible to businesses of any size.
BlueVine: Best for Small Businesses
| |||
Maximum Funding | $5 million | Advance Rate | 85% to 90% |
Discount Rate | 0.25% to 1.35% weekly | Minimum Annual Revenue | $100,000 |
Expected APR | 13% to 70% | Funding Speed | 1 day |
BlueVine offers small business owners an opportunity to qualify even if they have low annual revenue. However, unlike most invoice factoring providers, it does require a minimum credit score of 530. BlueVine made our list of the easiest invoice factoring companies because of its combined low revenue requirement, simple online application, and quick funding process.
Paragon Financial: Best Experienced Provider
 | |||
Maximum Funding | $10 million | Advance Rate | 80% to 90% |
Discount Rate | 1.25% to 2.5% per 30 days | Minimum Annual Revenue | $360,000 |
Expected APR | 16% to 55% | Funding Speed | Up to 10 days |
Paragon Financial offers slower funding than the other providers on our list, but it has no minimum credit score or time-in-business requirement. It does require a large amount of annual revenue. Paragon Financial made our list because it offers a large amount of funding and has more than two decades of experience in factoring and invoice collections.
Bottom Line
Finding an invoice factoring provider that’s easy to qualify for isn’t very difficult. For some small business owners, an easy provider will have low minimum requirements. For others, it will be a quick and simple application process. In some cases, the easiest provider is the one with the most experience and the most streamlined ongoing relationship, even if the immediate qualifications are more difficult to meet.
Submit Your Comment
You must be logged in to comment. Click a "Log in" button below to connect instantly and comment.
LOG IN