Below we presented the list of the 5 largest factoring companies in the world. For a more comprehensive list, please see the 10 largest factoring companies in the world.
5. Universal Funding Corporation
Revenue: $68.60 M
Number of employees: 88
Minimum Rate Percentage: 0.55%
Maximum Account Receivable: $5 million
Universal Funding Corporation is one of the largest factoring companies that provide business owners with a low-rate, quick, and easy invoice factoring. Universal Funding Corporation is the best option for you especially if you have experienced maxed-out lines of credit, tax problems, and terminated lines of credit. The company was founded in 1998 and since then has supported more than thousands of businesses and more than $2 billion in transactions.
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4. New Century Financial (NYSE: NEW)
Revenue: $78 M
Number of employees: 22
Market cap: 2,245056 M
Asset: 26.15 B
Market Value: 2.18 B
Minimum Rate Percentage: 1.25 %
Maximum Account Receivable: $10 million
New Century Financial is a Houston-based factoring company founded in 1985 and since then has been providing innovative factoring services for small to medium-sized businesses with annual revenues ranging from $250,000 to $50 million. They offer services to manufacturing, oil and gas, distribution, staffing, service, energy, and transportation industries. The good thing about New Century Financial is they don’t offer any start-up fee and there is no lock-in contract. Not to mention that a business can sell maximum account receivables amounting to $10 million!
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3. TCI Business Capital
Revenue: $170.50 M
Number of employees: 40
Minimum Rate Percentage: 1% to 4%
Maximum Account Receivable: $10 million
TCI Business Capital is headquartered in Minnesota and has been working in the factoring industry since 1994. In 2018, TCI Business Capital Fidelity Bank was acquired by a leading commercial bank, Fidelity Bank of Edina. This helped TCI develop low-cost funding solutions for small and midsized businesses. Some of the industries they factor in are trucking and freight, staffing agencies, oilfield services, telecom and wireless, manufacturing, distribution and wholesale, and janitorial and maintenance. One of the recognizable traits TCI Business Capital has is its customized factoring programs for your specific needs. They also rely on your sales volume and not focus on your company’s value.
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2. Riviera Finance
Revenue: $264.80 M
Number of employees: 159
Market cap: 13.84 M
Minimum Rate Percentage: 2%
Maximum Account Receivable: $5 million
Riviera Finance (RVRA US: OTC) was founded in 1969 and is well-known for its 20 business development centers nationwide. The top leading factoring company operates in all 50 states of the US and Canada. One of the best deals the company offers is their FastCredit that provides businesses the cash they need in 24 hours. A lot of businesses take advantage of this quick turnaround time. Riviera Finance handles 20,000 customer accounts every month. The company provides factoring services to a variety of industries that sells products or services on terms not exceeding 60 days such as temporary staffing agencies, printing companies, manufacturers, wholesalers, and trucking.
Riviera Financing does not require any start-up fees and gives preliminary approvals within 24-48 hours. Plus, you don’t need to have an established business to get approved. Small and medium enterprises are encouraged to apply for a factoring service is able to help their business grow. The only downside is Riviera Financing will ask you to sign a contract for six months. Nevertheless, you can adjust this term depending on your needs.
1. Triumph Business Capital (NASDAQ: TBK)
Revenue: $311.9 M
Number of employees: 166
Minimum Rate Percentage: 1% to 4%
Maximum Account Receivable: $5 million
Topping the list of the 5 largest factoring companies in the world is Triumph Business Capital, a member of Bancorp and their rate starts from 1% and could go as high as 4%. Founded in 2004, Triumph Business Capital was formerly known as Advance Business Capital. Triumph Bancorp, on the other hand, is a reliable financial holding company with diversified financing services such as commercial finance and asset management activities. The Dallas-based company is reputable for factoring industries such as trucking, staffing, oil and gas, government contractors, and freight brokers. They are also popular for their invoice management; an easy access web portal and support from the Triumph Business Capital team.
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Note: We have amended the rankings to correctly reflect the revenue of Triumph Business Capital.
