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Flat Rate Funding Group Invoice Factoring Review
Flat Rate Funding Group is a factoring company that focuses exclusively on the trucking industry. They have some of the highest initial funding out of the companies we’ve reviewed, 95%, and maintain a flat 1.5% discount rate for 90 days, something very few factoring companies are willing to match.
One of Flat Rate Funding Group’s greatest attributes is they operate a very easy to use website, which lets customers know the important information they’re looking for when researching factoring companies. Our research equates this with a higher level of customer service.
Flat Rate Funding Group sports another positive trait, which is 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 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.
However, there are some issues with Flat Rate Funding Group. 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.
Flat Rate Funding Group also loses points because they have more complaints about their customer service than most of the invoice factoring companies we looked into. Lowercustomer service marks generally also go with lower grades for overall customer satisfaction.
Finally, they don’t provide non-recourse factoring options. As a result you can be liable for a chargeback if your client doesn’t pay the invoice. This introduces more unpredictability for your revenue than non-recourse funding, and isn’t as desirable.
Flat Rate Funding Group might be appealing for some customers, but they aren’t right for most trucking businesses. Clear rates would allow us to make an apples to apples comparison to better evaluate how they stack up.