Turn Your Invoices Into Cash Today
Quick Funding (24 hours)
Star Funding Invoice Factoring Review
Star Funding is a non-bank business funding service that offers account receivable credit options, including invoice factoring. They work with manufacturing, apparel, international import/export, government contractors, and small business markets.
The best aspect about Star Funding is the number of different customizable programs they offer for different industries. Many of the industries they service have access to a number of factoring services to fit specific needs. For example, for manufacturers, they offer finished goods financing, work in progress financing, and purchase order financing. The result is that business can get access to the credit they need to grow their business in a way that is designed to resolve the challenges that company is currently facing. They have been in business for more than 15 years, which means that they have an established client base and offer reasonably competitive rates.
The biggest issue we could find with Star Funding invoice factoring was a lack of transparency. While they say that they offer complete transparency, we couldn’t find information on their specific rates and fees, which means customers will have to contact them and wait for a reply. Even allowing for the fact that many of the rates and fees will differ based on the type of business asking for invoice factoring, Star still doesn’t offer any base information. They do say that initial funding will be between 70% and 90%, but that is a wide range and much of the range is on the lower end of what the industry is offering as standard. Moreover, we can’t find information related to contract term lengths or any kind of start-up or termination fees, which makes us hesitant to give a more enthusiastic recommendation.
Star Funding seems to be a good option for the industries that they specialize in, especially those looking for purchase order financing as well as invoice financing, but the lack of information makes it hard to fully recommend them.