Pros

The first interesting feature for Dealstruck is their Dealmaker application. It collects your business’s most recent tax returns and primary owner’s FICO score, and then offers a customized packaged to fit the needs of the particular business. This makes the application process easy. The way that Dealstruck is different is that instead of traditional invoice factoring, Dealstruck offers an accounts receivable credit line. They lend you money against your invoices, and you use your customer’s payments to pay the loan. This places the burden of collections on the business rather than the invoice factor company. The result of this is that they can offer better rates than many of the other companies we reviewed, as they are taking a smaller risk because they haven’t purchased the invoices directly.

Cons

Dealstruck’s invoice based-lending isn’t right for all businesses. If your customers don’t pay in time then you’re going to fall behind on your payments with Dealstruck, and that can lead to a number of financial issues for your business. Moreover, Dealstruck will determine how much credit you can get based on your business’s growth rate. This is an attempt to make sure that businesses don’t take on more credit than they can deal with, but some reviews indicated they thought the limits that Dealstruck set were too low. Moreover, the business must have been open for at least one year and done at least $150,000 in annual revenue before it can qualify, so it might not be the best place for startups.