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Facteon Invoice Factoring Review
Facteon is an Atlanta, GA based invoice factoring company that focuses on serving small businesses. They offer a helpful online reporting program and low minimum volume requirements compared to some of the other invoice factoring companies we looked into.
One of Facteon’s strongest advantages is 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.
Facteon has the added benefit of the fact that they provide invoice factoring services for companies in a range of different industries. As a result, they have the experience that your business needs when it comes to dealing with your specific cash flow situation.
Finally, they received excellent marks for customer service. We found their representatives to be well informed and knoweldgeable, and were able to answer our questions. Better customer service usually leads to better customer satisfaction according to our researc
However, there are some issues with Facteon. The first is their website leaves much to be desired. It is difficult to navigate and doesn’t have the features or information that one would expect when researching invoice factoring companies.
Facteon also loses points because 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.
Finally, they only offer recourse factoring. This means if a client doesn’t pay their invoice the factoring service will charge back their initial funding, an event which can leave many businesses in a capital crunch.
Facteon isn’t yet ready to be among the giants in the invoice factoring industry. They need to get their website issues under control and enhance their transparency before they can even be an average factoring company.