Gateway Commercial Finance Review for 2024

Gateway Commercial Finance is an nationwide invoice factoring company with a management team having more than 60 years of factoring experience, and five consecutive years of being included in the INC 500/5000 list of fastest growing companies.

Our in-depth review will cover the features and services offered by Gateway Commercial Finance, as well as compare the quality of the offer to other leading invoice factoring companies on the market.

Gateway Commercial Finance Overview

Gateway Commercial Finance was founded in 2007, and specializes in supporting small to middle market businesses in order to overcome the common hurdle of delayed payments.

The company’s mission is to provide thoughtful, timely, flexible and transparent financial solutions that enable businesses to maintain steady cash flow, invest in growth opportunities, and manage their cash flow more effectively.

Key Features

Gateway Commercial Finance prides itself on its industry-specific expertise, offering tailored financial services to meet the unique needs of various sectors.

Whether it's manufacturing, distribution, service providers, temporary staffing, sub-contractors, or any other industry, Gateway understands the specific challenges and opportunities present and provides customized invoice factoring services to ensure businesses can thrive and grow.

Invoice Factoring

At the heart of Gateway's offerings is their invoice factoring service, designed to address immediate cash flow needs by converting your outstanding invoices into immediate working capital.

The service allows businesses to access up to 90% of the invoice value within 24 hours, improving liquidity.

In order to be eligible for invoice factoring, you will have to be a B2B firm, meaning that you sell to businesses rather than consumers. Your customers will also have to be creditworthy, and you will have to give them between 30-120 days to pay.

Another important requirement is that the monthly sales of your business are $25,000 or more, and that you are incorporated in the US, with limited or no access to bank financing.

If you meet these requirements, you can request a factoring quote from the company, and will usually wait just around 30 minutes for a proposal from a Gateway director.

The company prides itself on quick funding and flexible agreements, so you can easily get funded the same day, with factoring fees as low as 0.5%.

The most common factoring rates typically range between 1% and 1.75% every 30 days, and the company offers both recourse and non-recourse factoring agreements, allowing businesses to choose the option that best suits their risk management preferences

You also have the option to go with short or long-term contracts, set low monthly sales minimums or maximum amounts.

The maximum factoring lines and credit limits are up to $10 million, which, along with Gateway’s transparent and competitive offer ensures your business can navigate the financial challenges with confidence.

Professional Receivables Management and Credit Monitoring

With Gateway, businesses benefit from professional receivables management and credit evaluation services, ensuring efficient collections and minimizing the risk of delinquencies.

The company's credit monitoring process uses sophisticated tools to evaluate and monitor the creditworthiness of clients' customers, providing these valuable insights at no additional charge.

A/R Management Platform

The company's advanced A/R Management Platform facilitates paperless submissions and integrates seamlessly with clients' accounting software.

This platform simplifies the process of selling invoices and offers comprehensive, transparent reporting on invoice status and activity, available 24/7.

Industries Served

Gateway Commercial Finance serves a wide range of industries, demonstrating its ability to understand and adapt to the unique challenges and cash flow dynamics of different sectors. 

Some of the main industries Gateway specializes in include:

• Manufacturing: Offering solutions to manage production cycles and supply chain demands.
• Temporary Staffing:  Providing the critical support to cover payroll and associated obligations. 
• Wholesale and Distribution: Assisting wholesalers and distributors in managing the gap between delivering products and receiving payments.

Customer Experience

One of the most significant aspects of Gateway's customer service is the direct access clients have to decision-makers.

Unlike many other factoring companies where clients might deal with brokers, salespeople, or automated systems, Gateway ensures that business owners work directly with the company's owners and managing directors.

This makes the company stand out from the competition, as it ensures that needs from both parties are clearly understood, decisions are made quickly and efficiently, without bureaucracy, and keeping the client’s best interest in mind.

Gateway's business model success is evidenced by the company’s retention rate, which is almost twice the industry average.

By prioritizing the quality of its client portfolio over short-term profits and actively avoiding practices that could harm a client's long-term success, Gateway has fostered a culture of trust between the company and its clients, which reflects in the number of long-term customers.

Bottom Line

Gateway Commercial Finance is more than just a financial service provider; it is a strategic partner committed to supporting the success and growth of businesses. 

With its comprehensive range of services, deep industry expertise, and unwavering focus on customer satisfaction, Gateway is a great choice for small businesses who want to navigate their financial challenges with confidence.