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Tetra Capital Invoice Factoring Review
Tetra Capital is an invoice factoring company that focuses exclusively on the trucking industry. They are based in Midvale, UT, and offer collections, credit reports, fuel card programs, and online reporting services in addition to invoice factoring.
One of Tetra Capital’s greatest attributes is 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.
Tetra Capital also shines in that they provide fast cash for companies that are facing cash issues. This can help a business grow by providing it the capital needed to complete more advanced and lucrative projects.
Finally, they have a number of complaints about the pace of funding. Many factoring companies offer 24 hour funding, so slow deposits really undermine their ability to be among the best invoice factoring companies we looked at.
However, there are some issues with Tetra Capital. The first is 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.
Tetra Capital also loses points because 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.
Finally, 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.
Tetra Capital isn’t up to the challenge of being one of the top companes that we reviewed. They need to offer more information on their rates, and their initial funding range of 65%-95% is too broad to be useful. You can probably find a better company for your invoice