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Porter Capital Invoice Factoring Review
Porter Capital is an invoice factoring company that was founded in 1991. They’re based in Birmingham, AL, and work with companies in the distribution, food and beverage, government contractor, manufacturing, oil and gas, service, small business, staffing, tech, textiles, and trucking industries.
One of Porter Capital’s greatest attributes is they will frequently provide funding on factored invoices within 24 hours. This speed of deposit can really help protect the revenue stream of your business, and ensures you have the capital you need to complete projects and grow.
Porter Capital is also strong in that 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.
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 Porter Capital. The first is they don’t have much or any information on their site regarding pricing on contract information. As a result you’ll have to get in touch with them if you’re considering their factoring services. much or any information on their site regarding pricing on s that lack transparency are moer likely to have customer service satisfaction issues. s that lack transparency are more likely to have customer satisfaction issues.
Porter Capital also suffers because their fees are more than you would expect from an invoice factoring company, and that may be a deterrent for many small businesses. Moreover, fees usually indicate that there might be other issues with pricing transparency or customer service.
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.
Porter Capital isn’t ready for the big time yet. They need to do a better job of disclose their fee and discount rate ranges, as well as provide more information on their qualifying standards to move into the list of the best invoice factoring companies.