Amerifactors reviews

8.9

Overall

8.9/10

Funding Speed

9.0/10

Advance Amount and Fees

8.8/10

Transparency

8.8/10

Service and Support

9.0/10

Pros

  • Incredibly long track record of financing (nearly 30 years).
  • Very strong management team.
  • Provide a ‘dedicated finance team’ to help with both receivables AND payables.
  • Can fund loans up to $20 million.
  • Also offers business cash advances.

Cons

  • Must have gross revenues of $150,000.
  • Require a personal guarantee from the business owner.
  • Loans are not available in the state of Vermont.

Amerifactors Reviews

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Amerifactors is an experienced factoring company with offices in Celebration, Florida. The company has been factoring invoices since 1991 so they have obviously been doing a few things right.

They offer the typical alternative funding options like invoice factoring and asset based lending. But they also offer business cash advances and DIP (debtor in possession) financing for businesses facing bankruptcy.* 

As such, the company offers a broader range of small businesses services; not just associated with high-growth needs but also entities with serious financial struggles. It also speaks to Amerifactors level of sophistication with financial matters.

Since 1991, Amerifactors reports providing funding for thousands of small businesses with total funding volume of over $5 billion as of 2015. Such loans have provided much needed net working capital to businesses in the Central Florida area and nationally.  

Their location near Walt Disney World and other tourist attractions has created a deeper level of expertise working with hospitality/service industries and food and beverage distributors. Not considered among common trucking factoring companies, Amerifactors nonetheless has funded many transportation names, as well as construction companies.

How is Amerifactors Different from other Factoring Companies?

It is a bit unusual to see cash advances offered by a factoring company but this is what makes Amerifactors different from others. Of course, MCAs and factoring are similar-they are funding transaction that do not incur debt and are asset sales (accounts receivable and future credit card sales).

Amerifactors is a wholly-owned subsidiary of Gulf Coast Bank and Trust, so they have access to some deep pockets which helps its small business customers. It’s not uncommon for factors to derive some of the funding from a traditional bank. But they are not typically wholly-owned subsidiaries.

When a business receives financing through Amerifactors ABL team, they are aided by financial advisors who assist in financial issues for the client moving forward. This is a powerful value-add that we don’t normally see offered by factoring companies. This speaks to their commitment to helping a company throughout their lifecycle.

Their ABL team expands on just accounts receivable, obviously focused on by A/R factors, to also include machinery and equipment. Amerifactors also offers CAPEX lines of credit for equipment purchases.

The company also has a track record of community and philanthropic efforts, such as generous donations and support for Orlando’s Pulse nightclub tragedy.

Amerifactors Pros and Cons

In addition to the Amerifactors reviews above, we list a few pros and cons:

Main Pros:

·       Incredibly long track record of financing (nearly 30 years).

·       Very strong management team.

·       Provide a ‘dedicated finance team’ to help with both receivables AND payables.

·       Can fund loans up to $20 million.

·       Also offers business cash advances.

Main Cons:

·       Must have gross revenues of $150,000.

·       Require a personal guarantee from the business owner.

·       Loans are not available in the state of Vermont.

 

For more information on Amerifactors:

Who Uses Amerifactors?

Where does their funding come from?

Do they offer specialty financing options?

 

*https://www.abi.org/abi-journal/obtaining-dip-financing-and-using-cash-collateral