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What is the criteria used to rank these companies as the top 5 in the article published 2/12/2020.

2 months ago

I’ve re-read the article titled “Top invoice factoring companies for contractors in the US” a couple times now and don’t see the criteria that was used to determine these to be the top companies. What sort of criteria was used to rank these 5 out of all the others out there? I see their advance amounts and rates, but why these 5? Do they have the best rate’s? More upfront advance? What’s this based on?

Jonny Finity
User

That’s a great question, thank you for reaching out! The article,  Top Invoice Factoring Companies for Contractors, is an ongoing, evolving resource for construction businesses who have heard about factoring, but aren’t sure where to start. We’ll continue to research and update this article with factoring companies that serve the construction industry.

Because factoring is such a broad, largely unregulated field, there’s not a lot of transparency into the process. It can be difficult to figure out what discount or advance rates a company is willing to offer – or whether they are even interested in factoring construction invoices.

These factoring companies made this list primarily due to their focus on serving the construction industry. There are plenty of factors out there that serve trucking or manufacturing, but consider construction factoring too risky. The companies in the article aren’t ranked by their rates or advance amounts – we simply publish that information as a starting point for a contractor’s own research into their options.

We will update the article as our research continues. If you work with or know of a factoring company that serves the construction industry, please let me know! We would love to include them in the options available to contractors.

Additionally, if you have knowledge to share, I encourage you to join our Expert Center and help contractors, suppliers, and property owners with the questions they ask about construction factoring.

Guest
Anonymous

Thanks for the info Jonny.  Still a little confused to the explanation saying these are just a list of some factors that do construction based on the title that indicates top 5 construction factors, but all good.

To answer your question, yes, we are a construction factor, in fact a long time customer of Levelset and have used you guys for years.

Curious if there would be a any chance in speaking with the article writer directly?

Jonny Finity
User

Yes, definitely – I believe the writer spoke with someone from your company for our next update to the article, coming this week.

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