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SouthStar Capital Invoice Factoring Review
SouthStar Capital is an invoice factoring company based in Mount Pleasant, SC. They were founded in 2008 and work with a number of industries, including agriculture, constructon, distribution, food and beverage, government contracting, manufacturing, oil and gas, service, staffing, small business, tech, textiles, and trucking industries.
One of SouthStar Capital’s strongest advantages is they provide non-recourse funding, which means that there’s no risk of a chargeback if your client doesn’t pay their invoice. Non-recourse factoring provides a more secure revenue stream that recourse factoring, making it preferable in almost every instan
SouthStar Capital also shines in that they offer 24 hour funding, which ensures that your business will have the resources on hand to grow your business, complete projects, and meet your payroll obligations, which can be a burden for some businesses.
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 SouthStar 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.
SouthStar Capital also suffers because their discount rate is on the high end, reducing the amount of money your company gets from its invoices. This can be a problem if your business runs on a tight profit margin, and knocks them down a bit in our review.
Finally, 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.
SouthStar Capital has a great deal of information regarding factoring and other receivables products, but they fall behind in transparency, preventing us from doing a proper apples-to-apples comparison. This moves them to the middle of the pack for invoice factoring companies.