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Fostorian Business Capital Corporation Invoice Factoring Review
Fostorian Business Capital Corporation is based in Chicago, Illinois. They offer funding through the form of accounts receivable factoring. They focus on clients who can’t yet get bank loans but have a foundation that indicates a strong likelihood for growth.
The best aspect of Fotorian invoice factoring is the quick turnaround when it comes to getting funding. Their website boasts that money can be received in 2-24 hours. They base their decisions on things like rates, fees, and approval on the credit worthiness of your customers, which makes them a good place to go for startups and new small businesses that may not have an established credit background. Moreover, their accounts receivable credit line products come with a complete accounts receivable management service, which means Fostorian will help with things like collections as well as analytics reports and data. They also do all of the invoice tracking you need, and their claim to take care of collections leads us to believe that they offer nonrecourse invoice factoring, which is preferable for merchants because they don’t have to worry about a chargeback for invoices that weren’t collected.
There are two major issues with Fostorian Business Capital Corporation. The first is their website. It is sorely outdated and doesn’t provide much of the information that business owners and managers are looking for. There’s no live chat support option, nor is there a phone number listed for companies to get over the phone help or answers to inquiries. The second issue facing Fostorian is their lack of pricing transparency. While they advertise a number of specialized factoring programs for different niches, there’s no information about the rates or fees associated with each package, making it hard for businesses to know what they’re getting into.
Fostrorian Business Capital Corporation doesn’t seem like the best place to go for invoice factoring. Companies should probably look elsewhere for their factoring needs based on what we can see.