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Capital Plus Invoice Factoring Review
Capital Plus is a working capital lender that opened its doors in 1990. While it works with a variety of different business types it specializes in the construction industry, and does most of its business in that niche.
One of the best aspects about Capital Plus is that they don’t have any startup or termination fees, a rarity in the invoice factoring industry. There is no maximum for how much you can factor through Capital Plus, and that can be a huge boon to busy businesses that want to factor many invoice. Additionally, Capital Plus does not have any invoice minimums or commitment minimums, which makes them a flexible option for many companies, especially those in the construction industry. Many invoice factoring firms aren’t willing to work with construction companies, and so Capital Plus definitely gets points there. They have a dedicated advisor to answer any questions and offer customer support through the phone or email. Applications can be approved within 24 hours of submitting them to Capital Plus, and funding can be received within 24 hours of an invoice being purchased.
The biggest drawback for Capital Plus is that they do not offer nonrecourse invoice factoring. The result is that companies will have to buy back any invoices that Capital Plus wasn’t able to collect on, and that can be a serious blow to a company’s cash flow and revenue stream. They buy invoices that are up to 60 days overdue, which is standard for the industry and nothing special, and their minimum discount rate is 1.5%, which is on the higher end of where the industry operates. Initial funding is also lower than many companies we looked at, coming in at 80%
Capital Plus is a good choice for companies that don’t have access to many other factoring services, the lack of a minimum and no monthly commitments also make them appealing.