Pros

There are many advantages to using Lendvo for your invoice factoring needs. They offer a rapid approval process which can take as little as 12 hours, and they offer loans from $5,000- $100,000. Lendvo takes great pride in working with each business as an individual case, and offers variable rates and fee structures depending on the nature of the business in question. This makes them a good option for merchants who are afraid that banks and other traditional sources of capital aren’t the right option for them.

Another advantage that businesses get with Lendvo is that their repayment terms are also flexible. While most invoice factoring loans give the net of your invoices as the repayment period, Lendvo has options that allow businesses to stretch repayment to up to two years. This can be incredibly beneficial for businesses that have long revenue cycles or are using a large contract to fund a business expansion.

Cons

There are some things to look for when it comes to Lendvo invoice factoring. Because each business is treated separately, your business may have fees or other rate issues that others don’t face. Make sure you read your contract thoroughly before agreeing to it so that you know exactly how much your invoice factoring is going to cost overall. Additionally, if your customer base consists of businesses with bad or no credit, then your rates will be higher, so you can wind up paying more because of your customer’s bad decisions.