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Hennessey Capital Invoice Factoring Review
Hennessey Capital is a company specializing in invoice factoring and other receivables-based financial products. They are based in Rochester, MI, and work in the distribution, healthcare, manufacturing, staffing, and trucking industries. In addition to their invoice factoring services, they offer collections services and online reporting.
One of Hennessey Capital’s strongest aspects is they offer non-recourse factoring. This works out well for companies because they don’t have to worry about a chargeback if the client doesn’t pay their invoice. These chargebacks can create serious revenue issues, and may impair business operations.
Hennessey Capital is also strong in 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 had solid reviews from cutomers relating to their customer service. Invoice factoring companies with strong customer service also frequenty had better scores for customer satisfaction.
However, there are some issues with Hennessey Capital. The first is their website is easy to use and has helpful information explaining what factoring is, how it works, and how companies can benefit from it. Our research indicates that companys with better websites are more likely to have high marks for customer service and satisfaction.
Hennessey Capital also loses points because they lack the information that businesses interested in factoring need to be able to compare their services to their competitors. As a result, we don’t have the information we need to do a fair apples to apples comparison, costing them points in our review.
Finally, they don’t give the impression of professionalism that you would expect from a company providing finanical or business services. This takes them down a bit compared to other companies we’ve looked at.
Hennessey Capital isn’t ready for the big time yet. The company needs to get their web presence sorted out and has to do a better job having clearly posted rates and fees so that businesses can understand the range of prices they’re looking at.