B2B Payments

A Factoring Search Engine, Just For SMEs

The B2B payments cycle is not always kind to small suppliers, which often need help with financing as they wait to get paid and have their invoices settled. Factoring has emerged as an industry to help companies better manage their cash flow, but with today’s saturated alternative small business lending market, SMEs may struggle to find the right option for their financing.

Factoring Club launched its new platform Tuesday (Aug. 4) to help small businesses in their search for working capital. FactoringClub.com offers SMEs a way to bypass search engines by comparing side-by-side dozens of lenders that offer invoice financing, purchase order financing and other types of loans.

“Businesses frequently face the challenge of finding the right factoring company,” the company said in its announcement. “Search engine results commonly skew results that favor certain criteria. FactoringClub.com provides borrowers a way to find lenders based on location, industry or product type.”

The more than 70 lenders on the platform each get their own “mini-website,” the company said, to provide a quick and thorough review of a small business’s choices.

“FactoringClub.com is committed to providing information necessary for small business looking for financing,” said the company’s founder and CEO Rick Hultz in a statement. He added that the firm has “partnered with the best factoring companies” to ensure SMEs in need to financing can find the right match.

The majority of FactoringClub.com’s lenders, the company said, are based in major cities like Los Angeles, Chicago and New York City. On average, each lender offers up to $3 million in financing, though some are able to provide $10 million or more. Each factoring company profile includes a breakdown of their loan terms, location, and industry specialty.

For Hultz, the platform is a destination for SMEs that cannot access traditional bank loans. “A major objective of Factoring Club is to broaden awareness to businesses that factoring can meet their financial needs,” he said.

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The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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