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Triumph Business Capital Invoice Factoring Review
Triumph Business Capital has been in business since 2004. They work with the trucking, government services, oil and gas, staffing, and other small to medium sized business markets. They have mixed reviews online from customers, and a number of potentially attractive products.
Triumph’s biggest asset is the fact that they have a number of industry specific invoice factoring solutions to help businesses grow. This includes options for things like insurance solutions for trucking, and same day payment on invoices for other industries that they work with. The same day financing can be a boon to companies that need a steady revenue stream and can’t wait for customers to pay their invoices and then for the money to clear if they want to grow at a faster rate than the competition. In addition to invoice factoring, they also offer a number of other business solutions that are specific to the industries that they operate within.
There are a number of complaints related to Triumph’s invoice factoring services. The most frequent complaint had to deal with customer service. Many customers complained that they were transferred from department to department, and each transfer was supposed to send them to “their team.” Other complaints noted that the cutoff time for same day financing was incredibly early, which made that feature next to useless. Still others reported that it could take as many as 3-5 days for the money to appear in their account. Moreover, we had issues with Triumphs pricing transparency. There isn’t any information available on their rates or fee structure, which makes it hard for us to give them an enthusiastic recommendation for them.
Triumph isn’t the best option for invoice factoring. They do offer some bonuses for trucking companies in terms of insurance help, load management, and DAT pads, but for most industries there are better options out there.