As a new or small established business, it is difficult to get a bank loan. When banks turn down companies there is still a choice Factoring or Fintech. These are two very different types of companies. Factoring buys invoices at a discount, and Fintech offers loans with high interest rates. Recently, many Fintechs have begun to offer factoring; unfortunately, it’s a watered down version and charges higher rates while providing poor customer service. Most Fintechs are new to the lending space and are mostly startups. Fintech has not been around as long as factoring. Factoring has been around since the early Romans and has an incredible success rate compared to Fintech.