3 Same-day Invoice Factoring Providers

Getting a same-day invoice factoring solution is more difficult than a business loan or line of credit. Factoring companies have a higher due diligence requirement because they need to check into the creditworthiness of your debtors or customers. We analyzed the top factoring providers and selected three that offer same-day funding or at least same-day approval for small business owners.

Same day business loans are available to business owners that need immediate funding to cover a pressing cash shortage. While invoice factoring is rarely the quickest funding solution, it is certainly an option for most small business owners. Consider that rates may be higher if a lender has less time to process and review your application, so getting a loan quicker may be more costly than other options. 

Best Same-day Invoice Factoring Providers

We could not find any same-day invoice factoring companies with no Uniform Commercial Code (UCC) filing requirements.

How We Evaluated

When reviewing invoice factoring providers we concentrated first on the ease of the application process and the speed of approval and funding. Then, we considered the maximum loan amount, total cost of funding, and any fees that are applicable. Finally, we took into consideration the minimum requirements that each lender sets.

BlueVine: Best Next-day Online Funding

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%	Funding Speed	1 day
Get Started

BlueVine offers small business owners a simple online application and funding the next day. It does so by integrating with a business’s accounting software or analyzing uploaded invoices. Small business owners should note that unlike the other providers on this list, BlueVine does have a minimum credit score requirement of 530.

BlueVine Review

FundThrough: Easiest Application Process

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
Get Started

FundThrough is a new invoice factoring provider that also offers a simple online application and next-day funding. The application process is so simple that all you need is an internet connection and a copy of the invoice to complete it. As a newer lender, in some cases, FundThrough may delay funding or require that only invoices of more than $50,000 are funded.

FundThrough Review

Paragon Financial: Most Lending Experience

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
Get Started

Paragon Financial is the most established lender on our list and it made the top three because it offers same-day approval. It’s best for small business owners who want to work with an experienced factoring company and establish a long-term relationship. However, while most applications can get funded in three to five days, it can take as long as 10 days for the initial deposit.

Paragon Financial Review

Bottom Line

Getting funding from an invoice factoring company the same day you apply can be challenging. Lenders must complete a deep due diligence process that includes checking the business applying and the business that owes the invoice to ensure that there’s sufficient creditworthiness to lend against. There are also terms and other details to go over before you receive funding, but it is possible to get funding the next day in some circumstances.