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Commonwealth Capital Invoice Factoring Review
Commonwealth Capital is an invoice factoring company that operates out of Bloomington, MN. The business started in 2011, and works with a range of industries, including construction, distribution, food and beverage, government contractors, small businesses, staffing agencies, and more.
One of Commonwealth Capital’s best features is they offer an initial funding rate of up to 90%, which is more than many other companies in the invoice factoring market. This higher advanced funding means tat your company is more likely to have the resources it needs to grow and expand.
Commonwealth Capital is also strong in that they provide funding incredibly quickly once you factor an invoice. You can use this capital to meet payroll, invest in new technologies, or anything else that might help grow your business.
Finally, they have a very professional and easy to use website. Our research indicates that this is a solid predictor of the type of service customers receive, and helps them move up a bit relative to other companies we reviewed.
However, there are some issues with Commonwealth Capital. The first is they fail to provide clear, detailed information about important aspects of their services, forcing businesses to call them for more details. Our research generally equates this with lower marks for customer satisfaction and service.
Commonwealth Capital also suffers because their fees are more than you would expect from an invoice factoring company, and that may be a deterrent for many small businesses. Moreover, fees usually indicate that there might be other issues with pricing transparency or customer service.
Finally, they don’t offer many of the services or features that companies interested in invoice factoring are looking for. This limits their appeal to a select group of companies, and knocks them down a bit in our review.
Commonwealth Capital are an average invoice factoring company. More information on their rates and fees, as well as a more detailed description of how companies can ensure the best initial funding rate could push them into the elite invoice factoring companies.