Accounts receivable financing companies can offer fast, affordable funding to smooth out a little business’s cash flow or provide them with access to short-term functioning capital. Accounts receivable funding is based on variables such as size, credit score, age and if it’s an individual or group. After taking a look at the most well-known options and a number of the latest players in the area, we decided to examine Fundbox, BlueVine, and Fluid. The accounts receivable funding businesses represent some of the best bill funding companies out there and we’ll take a closer look at just how much balances receivable funding you’ll be able to get, how much it will cost, and how quickly you are able to get funded.

Greatest Accounts Receivable Financing Company

	Loan Amount	Advance Rate	Discount Rate
Fundbox	$1K-$100K	100 percent	0.5-0.7% per week	See Fundbox
BlueVine	$20K-$2.5M	85-95%	2.5-5% monthly	See BlueVine
Fluid	N/A	80-90percent	3-4.5% yearly	Visit Fluid

*Last Updated: May, 2018

Greatest Accounts Receivable Financing Company 2017: Fundbox

We recommend Fundbox due to their low rates, fast financing intervals, and since they will advance you 100 percent of the value of your invoices. They supply accounts receivable financing from $1K — $100K and don’t charge any prepayment penalties. You can set up an account with Fundbox at no cost, sync your accounting software, and within minutes pick the invoices you’d like to advance.

Visit Fundbox

Greatest Accounts Receivable Financing Companies: Fundbox vs. BlueVine vs. Fluid

	Fundbox	BlueVine	Fluid
Amount You Can Borrow	$1,000 – $100,000	$20,000 – $2,500,000	N/A
Advance Rate	100%	85% – 95%	80% – 90 percent
Discount Rate	0.5% – 0.7% per week	2.5% – 5% each month	3% – 4.5% per month
Qualification Requirements	Must invoice B2B, B2G, B2C 6+ Months in business	Must invoice B2B or B2G 3+ Months in company	Must invoiceB2B or B2G 6months in company
Required Invoice / Accounting Software	QuickBooks Xero FreshBooks And 8 more	QuickBooks Xero FreshBooks	Must be able to connect online to your own bank account through Plaid.
Repayment Requirements	12 or 24 Weeks	1 – 12 Weeks	90 Days or less
Funding Time	As fast as 1 Business Day	As fast as 1 Business Day	As quick as 1 Business Day
	www.Fundbox.com	www.BlueVine.com	www.Fluid.com

Best Accounts Receivable Financing Company: Fundbox

Fundbox advances you 100 percent of the value of your bills compared to amounts between 80% and 95 percent to Fluid and BlueVine. Fundbox prices a discount rate of 0.5% — 0.7percent per week the bill is outstanding. These prices are more reasonably priced than both BlueVine and Fluid if your repayment period is the exact same for every. The progress works like a line of credit, in order to repay, you can keep borrowing from the credit line.

Fundbox requires one to create weekly installments to pay back the advance for either 12 or 24 weeks. A Fundbox loan can be repaid early with no penalties, and you pay fees only for the time which you borrowed the money. Businesses with at least 6 months of bookkeeping background may qualify and no credit check is required. However you must use a supported online bookkeeping application like QuickBooks, FreshBooks, or Xero. Fundbox has the widest range of available integrations.

Considering that a Fundbox loan is not tied to your client paying the invoice, FundBox will not contact your customers, and your clients can continue to pay you straight. This is different than BlueVine who needs your clients to pay the bill directly to your bank account they set up on your company’s name. Additionally, a Fundbox loan requires no personal guarantee, whereas BlueVine does.

The only down side to Fundbox is they are only able to fund up to $100K. Even though this will be lots of capability for many small businesses, for many others it simply will not be sufficient.

Stop by Fundbox

Best Invoice Financing Company for Advances Over $100K: BlueVine

BlueVine also lets you convert outstanding invoices into immediate operating capital but they provide much bigger financing amounts, capping out at $2.5 million. We enjoy this choice for small and midsize businesses that do a lot of invoicing and will need to bridge gaps in cash flow to make payroll, purchase equipment, etc. in amounts greater than $100,000.

BlueVine also only currently integrates with QuickBooks, Xero, or FreshBooks. That’s fewer companies than Fundbox, that now integrates with 10 online accounting or invoicing software businesses. BlueVine will work together with other accounting software, but their product loses the rate and price benefits of account receivable financing, and they start to work more like conventional bill factoring.

BlueVine charges 2.5% — 5 percent per month with repayment terms of 1-12 weeks. One drawback is that you need to have a 530+ credit score, which is not a necessity for Fundbox. However, BlueVine can approve you for amounts up to $2,500,000, which is much larger than the contest.

Visit BlueVine

Greatest Non-Recourse Invoice Financing: Fluid

Fluid offers a product that’s closer to classic invoice funding. They approve your finances based on your customer’s creditworthiness, not yours, and they require you to assign your outstanding invoice to them (essentially buying the bill from you). The advantage to this is that you don’t need to be concerned about whether your client pays the bill or not. That’s because Fluid offers non-recourse accounts receivable financing.

Non-recourse bill financing usually means that lender can simply collect the money that’s owed from the customer. While that may have given some little company owner reassurance, the process to receive invoices approved through Fluid is more challenging than it’s via Fundbox or even BlueVine. It might also cause lower progress rate (starting at 80%) and higher rates (beginning at 3.5% per month).

While Fluid is generally a more expensive option than BlueVine and Fundbox however there is no minimum or maximum to just how much you can fund. And being able to fund your invoices without being on the hook for the payments afterward might be a big enough benefit that you use their services.

Visit Fluid

In-Depth Accounts Receivable Financing Companies Overview: BlueVine vs. Fundbox vs. Fluid

How Much Can I Borrow?

With accounts receivable financing companies, how much you can borrow is directly tied to how far you are invoicing. Nevertheless, many businesses set minimum amounts you have to hit in order to be considered for financing, and maximum limitations to the financing they will provide. All 3 companies reviewed here have big differences in the amount you may borrow, from as small as $1,000 to $2,000,000+.

Fundbox: Credit lines of $1,000 to $100,000.

BlueVine: Could Buy between $20,000 to $2,500,000.

Fluid: There is no limit to how much you really can have outstanding at any given time because every invoice is accepted individually. However, each of your customers have to be paid in full before getting additional invoices accepted.

Advance Rate

Accounts receivable financing generally gives you your money in two parts. To begin with they give you an advance up front. When your customer makes full payment on the bill, you receive the rest of the balance (minus any fees). The exception here is Fundbox, which improvements you 100% of the invoice value and charges their commission as you possibly repay.

Fundbox: Advances 100% of the bill upfront.

BlueVine: Advances 85% of the bill upfront. Customers with creditworthy debtors that are requesting credit lines over $50,000 may qualify for a 95% advance.

Fluid: Advances 80% — 90% of the invoice upfront.

Discount Rate

The reduction rate is the sum that the accounts receivable financing company charges as their fee and is a percentage of the financed invoice value. For example, a 2% discount rate on $100,000 worth of funded bills would be $2,000. Some reduction prices are billed on a weekly or yearly basis. Other than fees for receiving a wire transfer as a payment, the discount rate is generally the only real cost or fees associated with accounts receivable financing.

Fundbox:0.5percent — 0.7% per week you are in repayment.

BlueVine: 2.5percent — 5 percent per month you are in repayment.

Fluid: 3 percent — 4.5% per 30 days the bill is in repayment.

Qualification Requirements

Contrary to other types of financing, there are just a few qualifications you have to meet. Your credit rating isn’t typically a deciding factor in being accepted for accounts receivable financing. The era of a company is not as important when qualifying for accounts receivable financing.

The most important thing is the creditworthiness of your clients. Creditworthiness could be demonstrated in several of ways, including a business credit check, evidence of payment history to you, and how well known they’re (i.e. the creditworthiness of a well known, big company is usually not in question).

Fundbox:To qualify for a Fundbox loan, you need to be a US-based company with least 6 weeks in operation and use a supported accounting application to deliver invoices to your customers. When you register for a Fundbox accounts, Fundbox will evaluate your business’ financial strength as well as the creditworthiness of your customers. However, no private credit check is necessary.

BlueVine: You must be a US-based company that invoices B2B or B2G clients and possess a 530+ personal credit score. Your customers must be creditworthy.

Fluid: 6+ months in company and your clients have to be approved by Fluid. They do not credit check your clients but they do check that they have a clean online record and evaluate how long they have been in operation and how timely their obligations have been to you.

Accounting & Invoicing Software

One of the largest advantages of account receivable financing over traditional factoring is how fast you can be approved and the ease at which you can choose that bills to fund. This is largely due to the technologies that accounts receivable funding businesses use to finance your bills. Typically this means you have to use an accounting or statement software that your accounts receivable funding company can be used with.

Fundbox: Requires that you use among their harmonious bookkeeping or invoicing software, which now contains: QuickBooks, Xero, Clio, FreshBooks, Zoho Books, InvoiceASAP, Sage One, Kashoo, eBility, Jobber Invoicing, or Harvest.

BlueVine: You must use QuickBooks, Xero, or FreshBooks to benefit from the cost and speed benefits you generally get from an account receivable financing company. They will work with you if you’ve got other accounting applications but the item changes to a product that closely resembles traditional factoring companies.

Fluid: Does not need any special accounting or invoicing software. However, you will need to be able to connect them to your own bank account online through Plaid.

Repayment Conditions

Each accounts receivable financing company requires repayment within about 3 weeks, but all of them do it slightly differently. Fundbox requires one to make weekly payments whereas BlueVine and Fluid work more such as bill factoring only because they do not need any payments until your customer has paid off the bill.

Fundbox: You pay back the advance (plus fees) over a 12-week or 24-week period. You pay their reduction rate fee each week you’re in charge so the longer it takes you to cover back it the more you pay. There’s no charge for paying off the balance early.

BlueVine: You need to repay the amount you borrow within 12 months when the client pays off the bill. BlueVine’s fee is charged each monthup to 3 months, which you’re in repayment.

Fluid: You do not make payments to Fluid while the invoices are in repayment, but all invoices must be repaid within 90 days. After the invoice is paid in full, Fluid takes their gathered discount rate out of the amount of the bill and sends you what’s left over.

Assignment of Invoices & Interaction With Your Clients

Accounts receivable financing is usually structured so that your customer has no interaction with your funding firm. Accounts receivable financing companies don’t typically ask that you transfer or assign your invoices to them, but Fluid is the exception as they do need it. BlueVine needs your customers to pay an account they have setup, but your customer will not know they’re involved if you don’t tell them.

Fundbox: No mission of bill and no communication with your customers.

BlueVine: No communication with your customers and no assignment of invoices. They will require you to alter the accounts your customers make payments , but the accounts will be on your title.

Fluid: They ask you to assign all funded bills to them. They’ll get in touch with your client and let them understand they’re now involved in amassing the invoice and handle all payment communicating with your customers then until the invoice is repaid.

Application & Funding Time

Accounts receivable financing firms typically try to streamline the funding and application process through the use of technologies. By way of instance, Fundbox and BlueVine both have fully electronic application programs, and it’s possible to be approved in 1 business day. There is generally hardly any paperwork that you need to supply, and it’s possible to be fully funded in 1 — 3 business days.

Fundbox: It takes just a couple minutes to make a Fundbox account, and you can be approved within hours and funds take 1-3 business days to attain your account. No paperwork is necessary. You just need to link up your online accounting system, which Fundbox uses to rate your business.

BlueVine: The online application takes just two minutes, and BlueVine can approve your first invoice for funding within 1 business day. Funds generally take 1-3 business days to achieve your account. If you do not use QuickBooks, Xero, or FreshBooks then it’ll take more to be approved and get financed.

Fluid: the entire approval process takes about 3 days, but then you could be funded on approved bills in less than 1 day.

More Accounts Receivable Funding Options

Supplier	Who It’s Ideal For
See Fundbox	Best for companies that need around $100K in financing and do not obey a weekly repayment schedule. Fantastic prices, no prepayment penalty, and also a simple application.
See BlueVine	Best for businesses that want to borrow up to $500K but just need 85-90% of the value of the bills up front. Would prefer not to create daily or weekly payments and instead have their client pay the bill directly to the supplier.
Visit Payability	Finest for Amazon Sellers that want to get paid over a day or two instead of waiting for the normal two weeks for payment. They can advance up to 80 percent of your Amazon earnings to get a 2% commission.
Visit Fluid	Finest for those companies searching for a non-recourse bill financing option that needs no personal assurance.
Visit OnDeck	Best for companies that need a term loan according to all company revenues, not just invoice activity. Revenue based term loans to $500K with repayment period of 3 months to 3 years.
Visit Kabbage	Best for small companies that would prefer a line of credit based on their overall earnings but only need around $100K in short term financing.

Bottom Line

All three of those accounts receivable financing companies reviewed in this article are good alternatives to fill short-term cash gaps. If you need around $100k we recommend Fundbox, however for larger amounts we urge BlueVine. Both can get you funded in 1-3 business days and will let you pick and choose which bills you want to finance. Fluid is a good alternative if you’re you’re searching for financing.

Fundbox is your ideal invoice financing firm for people who need around $100K because they’re extremely quick and relatively cheap. Unlike the competition, they progress 100% of the invoice. The advance has been paid back weekly more than 12 or 24 weeks, and there are no prepayment penalties.