Invoice Factoring

Top Invoice Factoring Companies in Michigan

As business owners, we’re all too familiar with the challenges of maintaining cash flow. Waiting for accounts receivable can slow your business’s progress and ability to seize new opportunities. In cases where you need more reliable cash flow for payroll, big projects that will grow your company, equipment, or any other expense, factoring can be the solution. Partnering with a reputable Michigan factoring company, particularly in the Detroit area, can unlock cash trapped in invoices and help you regain control of your cash flow.

A reliable Michigan factoring company can pay your outstanding invoices promptly, saving you from waiting on net terms for months. 

In this article, we’ll discuss the pros and cons of some top Michigan factoring companies and outline the criteria for finding the best factoring partner for your business based on our experience. Each company offers flexible factoring programs tailored to your specific needs. Here are the advantages and disadvantages of each option.

Top Invoice Factoring Companies in Michigan


FundThrough is an AI-powered invoice factoring platform that provides business owners with flexible access to working capital tailored to their needs. With FundThrough, you can enjoy unlimited funding based on the size of your outstanding customer accounts, ensuring that your funding grows as your business grows. Quick access to capital is reliable, with invoices typically paid within days. The FundThrough platform is designed with advanced AI and automation features, offering a quick and seamless funding experience. Additionally, you’ll benefit from dedicated support from our team, ensuring you have a trusted partner dedicated to maintaining a strong relationship. We also offer accounting integrations with popular software like QuickBooks and Enverus, so you can pull invoices eligible invoices into your account with no effort.


Quick access to capital: Get your invoices paid in days with FundThrough’s efficient funding process.

Flexible funding: Access funding whenever you need it, with no minimum funding volume required after your initial funding. You do not have to factor all your invoices; rather you can get funding for the ones you choose.

Easy funding process: Submitting an invoice for funding is as simple as a single click after customer setup.

No long-term commitment: FundThrough doesn’t require long-term contracts, providing you with the freedom to fund only when you want to. Once your customer pays their invoice, there is no more obligation.

One up-front fee: Our pricing structure features a transparent, single up-front fee. For specific pricing details, refer to our pricing page.

Dedicated support: Your dedicated account manager is here to help you with personalized support at every step of the funding process.

Accounting integrations: FundThrough offers integration with popular accounting software like QuickBooks and Enverus, enabling you to pull eligible invoices directly from your accounts.

100% advance rates: FundThrough advances the entire invoice less one fee.

Unlimited funding: Get as much funding as you have invoices for.


Technology requirements: To work with FundThrough, you are required to use our platform, which may not be suitable for businesses relying on other systems or processes.

Limited to invoice factoring: FundThrough specializes in invoice factoring and does not offer invoice financing options, which may not align with the needs of businesses seeking financing alternatives.

See if you qualify for FundThrough in less than 2 minutes

Prestige Capital

Prestige Capital is a leading commercial finance company that has been directly funding clients since 1985. They specialize in providing accounts receivable financing or invoice financing solutions to a wide range of companies, with annual sales spanning from $2 million to $300 million. They serve a range of industries in the Midwest region of the United States.


Quick Access to Cash: Convert your accounts receivable into immediate cash, enabling you to meet payroll and other immediate cash flow requirements.

Flexible Funding: Enjoy a line of credit based on your sales, not your net worth, with no limits and no monthly minimum obligations.

Simple Process: With no tax returns or financial statements required, our streamlined financing solution saves you time and effort.

No Traditional Guarantees: Avoid personal guarantees and operational audits, providing you with financial support without unnecessary restrictions.

Customizable Funding: Choose which receivables to fund, and Prestige will assume the credit risk for most deals, safeguarding you from bad debt costs, particularly if you have risky customers.

Short-Term Commitment: No long-term contract requirements; you can start with as little as a three-month agreement.

Cost-Effective: Benefit from no closing costs, no minimum fee requirements, and no monthly obligations, making it a budget-friendly option.


Due Diligence Fee: Upon accepting the proposal, a nominal due diligence fee is required to cover credit investigations and legal documentation, which adds an initial cost to the factoring process.

Processing Time for Reserves: After collecting payment for the factored invoice(s), it may take 3-5 days for the remaining balance (reserves) to be remitted back to you, causing a slight wait for the full amount.


Sterling Commercial Credit

As a leading commercial lending partner, Sterling Commercial Credit provides asset based lending from $2,000,000 to over $30,000,000. Their mission is to be a one-stop shop for growth-minded entrepreneurs, private equity firms, and M&A professionals, offering transparent and industry-leading commercial lending services through their invoice factoring program.


Diverse Financing Options: Sterling Commercial Credit offers ABL Revolvers, term loans, Unitranche Loans, Senior Stretch & Junior Capital to meet various commercial financing needs.

Strong Leadership: With executives boasting over 150 years of combined experience, Sterling brings expertise from both bank and non-bank environments to support clients effectively.

Targeted Clientele: Sterling focuses on fast-growing companies with strong experienced leaders, investors in M&A, firms seeking alternatives to traditional bank financing, and debtors in possession (DIP).


Limited Information: Detailed information about Sterling’s lending terms, rates, factoring fees and eligibility criteria may require direct contact with the company.

Equity Stake Sale: The recent equity stake sale to Great Elm Capital Corp may potentially impact Sterling’s operations or terms in the future, warranting attention to any changes.



Pathward specializes in providing working capital solutions that cater to the diverse needs of businesses. As a trusted commercial finance company, they offer customized financial services based on your assets, including accounts receivable, inventory, machinery, and equipment. Pathward serves a variety of industries across the U.S. and Canada, including manufacturing, staffing, alternative energy, insurance, transportation, oil & gas services, and more. 


Customized Solutions: Pathward tailors working capital solutions to specific needs and goals. With diverse financing options, they offer Equipment Financing, Insurance Premium Finance, and Structured Finance, to align with unique business necessities and aspirations

Flexible Lending Plan: Their asset-based lending allows for increased or decreased funding based on your current business size and objectives, giving you access to your line of credit when needed.

Retain Equity: By leveraging your company’s eligible accounts receivable, inventory, and/or machinery and equipment as collateral, you retain your business equity while securing necessary funds.


Limited Information: For detailed information about Pathward’s financing terms, rates, and eligibility criteria, direct contact with the company may be required.


TCI Business Capital

TCI Business Capital stands as a trusted ally for businesses in Michigan, spanning diverse sectors such as telecom, construction, trucking, energy, and more. Offering comprehensive invoice factoring and accounts receivable financing, TCI ensures steady cash flow for businesses, bolstering their business finances and facilitating growth. 


Immediate access to funds: TCI Business Capital provides rapid cash flow by offering same-day funding on receivables.

Customized programs: TCI offers tailored factoring agreements to meet the unique needs of each business, providing flexible funding.

Month-to-month contracts: TCI does not require long-term commitments, giving businesses the freedom to utilize factoring only when needed.

Clear pricing structure: TCI offers competitive factoring fees with no hidden costs, ensuring a transparent pricing model.

Dedicated support: Businesses receive personalized assistance from dedicated AR specialists throughout the funding process.

Extensive industry expertise: With over 20 years of experience, TCI brings a wealth of industry knowledge to the table.


Specific focus: TCI specializes in invoice factoring, potentially limiting businesses looking for other types of financing solutions.

Advance rates vary: The amount can vary, but they typically advance up to 90% of the invoice.

Monthly invoice minimum: TCI requires an average of at least $50,000 in monthly invoices to qualify for their programs, which may not be suitable for smaller business

Choosing the Right Factoring Company in Michigan

When selecting the best factoring company for your Michigan business, consider the following key factors:

  1. Funding limits: Look for a factoring company that can accommodate your funding requirements, especially if you have a large dollar amount in unpaid invoices you’d like funded.
  2. Flexibility: Find out if the companies you’re considering require minimum funding each month or require you to fund all your invoices.
  3. Invoice factoring advance rate: Choose a company that offers a competitive upfront percentage of your invoices, as this injection of cash can be crucial for meeting your financial obligations.
  4. Factoring fees: Evaluate the cost of factoring, including any potential hidden fees. Understand the full pricing structure to determine if the services provided align with your needs.
  5. Level of commitment: Assess your obligations expected by the factoring provider in their contract and choose a partner that aligns with your business’s specific requirements.
  6. Experience and track record: Consider a factoring company with a solid track record and experience in your industry, as this familiarity can be valuable in understanding your invoicing and payment terms.
  7. Speed: Look for a company that uses technology to streamline the factoring process, making it more efficient and user-friendly.

By considering these factors and reviewing the advantages and disadvantages of each option, you can make an informed decision that best suits your business’s cash flow needs.

How Invoice Factoring Works

Every company has its unique process when it comes to receivable factoring services. FundThrough has developed a quick and easy approach to help companies get paid on their terms and get back to focusing on their core operations. While each factor you’re considering may have specific requirements and circumstances, here is an overview of how receivable factoring works with FundThrough:

  1. Create or connect your account in minutes: Sign up for a free account with FundThrough or connect your existing QuickBooks or OpenInvoice account for quick and easy set up. Get started here.
  2. Select invoices to fund: Upload your outstanding invoices or sync them automatically from your QuickBooks or OpenInvoice account. Our accounting software integrations make the process seamless and efficient, allowing you to choose the invoices you want to fund.
  3. Get paid: FundThrough works with your customer to redirect payment to us and verifies the invoices. Once the approval is complete, you can expect next-day payment directly to your linked bank account. See how we work with your customers.
  4. Get back to business: Once your customer pays the invoice to FundThrough based on the net terms, your commitment ends. You can fully focus on your business, knowing that you have the option to receive quick and easy payments for your outstanding invoices through our platform whenever you need to cover business expenses.

We know the significance of managing business expenses and maintaining healthy cash flow. As a trusted partner, we aim to provide efficient receivable factoring services to help your business thrive. Benefit from getting paid in days, empowering you to cover expenses, invest in growth, and keep moving forward.

With competitive invoice factoring rates, you can address outstanding amounts without relying on bank loans. Turn your factored invoices into immediate cash, gaining quick access to funds and improving cash flow management.

We Serve Businesses Across Michigan

FundThrough serves companies throughout North America, including the United States and Canada. From staffing companies to other sectors requiring business financing, we are here to fuel your business growth in Michigan. Whether your operations are based in Detroit, Grand Rapids, Lansing, or any other major city in Michigan, FundThrough is ready to provide invoice factoring services tailored to your specific needs. Explore some of the major areas in Michigan where we serve our valued clients.

  • Detroit
  • Grand Rapids
  • Lansing
  • Ann Arbor
  • Flint
  • Kalamazoo
  • Dearborn
  • Livonia
  • Troy
  • Sterling Heights
  • Warren
  • Saginaw
  • Muskegon
  • Traverse City
  • And many more!


No matter where your business is located in Michigan, FundThrough is dedicated to helping you unlock the capital you need to succeed. 

Industries we Serve with Invoice Factoring Across Michigan

Our company services cater to a diverse range of sectors, including startups, advanced manufacturing, information technology, and staffing. Additionally, we understand the significance of the automotive industry in Michigan and provide financial support to manufacturers supporting this sector.

Whether you need working capital to pursue growth opportunities, manage operational expenses, or invest in resources, our invoice factoring is the ideal alternative to traditional business loans. 

Visit our Industries page for a full list of sectors, including automotive industry and advanced manufacturing, that benefit from our invoice factoring financial solutions.

Startups: As Detroit becomes a burgeoning hub for startups and innovation, our invoice factoring services provide these dynamic ventures with the working capital they need to thrive in the competitive landscape.

Manufacturing: In recognition of the significance of the manufacturing sector in Michigan, particularly in support of the renowned auto industry, we offer financial flexibility to manufacturers to invest in resources and stay ahead in this ever-evolving industry.

Staffing: Staffing agencies can benefit from our invoice factoring solution to maintain smooth cash flow while meeting payroll and other operational expenses.

Information Technology: IT companies can leverage our services to unlock the cash trapped in their outstanding invoices, enabling them to pursue growth opportunities and remain at the forefront of technology innovation.

Export: For businesses engaged in exporting goods, our invoice factoring solution helps bridge the gap between invoicing and receiving payments, supporting international trade endeavors.

Wholesale: Wholesalers can optimize their cash flow by converting unpaid invoices into working capital, allowing them to manage inventory and expand their business operations.

Oil and Gas: Companies in the oil and gas sector can access timely funds through invoice factoring to maintain operations and capitalize on market opportunities.

And more: Our commitment extends to various B2B industries in Michigan, empowering businesses to focus on their core operations while we take care of their cash flow needs.


Here are some frequently asked questions about invoice factoring:

Factoring approval, or seeing if you’re a candidate for factoring, involves evaluating your business, clients’ credit, and verifying invoices. At FundThrough, check if you qualify in under 2 minutes.

Payment speed varies.Most factoring companies, including FundThrough, pay as quickly as the next business day after customer setup.

Factoring rates typically range from 1% to 6%. The actual rates can vary between factoring companies, and additional fees may apply. At FundThrough, our transparent invoice factoring rate in Michigan is 2.75% per 30 days, with no hidden fees. Visit our pricing page to learn more.

No, invoice factoring does not typically require good credit. The approval process focuses more on the creditworthiness of your customers, as they are responsible for paying the invoices. By evaluating your customers’ credit history and payment track record, factoring companies determine the eligibility for factoring.

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