Pros

The most appealing aspect of Merchant Factors is that they are willing to work with businesses that other funding solutions won’t work with. This makes them especially appealing to companies that have applied for funding support but been turned down elsewhere. In addition to this, they also offer non-recourse funding, which is tremendously beneficial to business, as they won’t be forced to buy back invoices that Merchant Factors isn’t able to collect on. Moreover, their funding mechanisms allow companies to get funding for their invoices in a short timeframe, as little as 24 hours after submitting an invoice. Their rates are reasonably competitive because of the sheer number of businesses that the work with, which gives them an advantage for many businesses versus other invoice factoring companies.

Cons

There have been some complaints regarding Merchant Factors sales strategy as well as their customer service. Customers reporting having problems reaching the company through email, and taking days to get a response to inquiries. Moreover, other customers have complained that they are repeatedly called by sales reps who are using false information about their attempts to secure funding. It isn’t clear if these sales reps were working on behalf of Merchant Factors or if they were merely provided information sold by Merchant Factors, but either way can be a red flag for some small businesses.