Katie: How long have you been a client of Capital Now?
Rathe: Since March of 2018.
Katie: In 1 word, how would you describe your experience with Capital Now?
Katie: Did you have any hesitations before partnering with Capital Now?
Rathe: I did. But more the Factoring Industry itself. Both from a reputation and a cost perspective. Capital Now seemed to be the best choice.
Katie: What was the turning point that got you to take action?
Rathe: Speaking with Natalie and Gerry on the phone. I was all set to go with another company, but they were both so friendly and helpful Capital Now seemed a better choice.
Katie: And then what happened?
Rathe: I was turned over to other members of the team that were very helpful in making the process as painless as possible.
Katie: Has your business changed as a result of your partnership with Capital Now?
Rathe: It has helped me with cash flow in the very difficult start-up phase of my business. Without Capital Now, I’m not really sure what I would have done.
Katie: Tell me about a situation where Capital Now went out of their way to help?
Rathe: I was able to arrange payment for one of my larger invoices. Michelle actually met me right outside my client’s business to pick up the cheque from me and get it processed as quickly as possible.
Katie: Can you think of a situation where Capital Now was difficult to deal with?
Rathe: I wouldn’t say “difficult” is the correct word. But I was having some difficulty getting one of my clients to complete the paperwork. I have recently found out there is a workaround that we may have been able to use. I wish it had been brought to my attention at the time. I actually ended up losing that company as a client, in part to the pushing that I had to do to get the paperwork completed. But that is really on me, not Capital Now.
Katie: What, if anything, would you change about your experience with Capital Now?
Rathe: I understand why there has to be so much rigor around the handling of the invoices to ensure there is no fraud and you do get paid. It would be great that if over time, once some trust has been built that the controls could be less structured. A product I would really like to see would be a revolving line of credit based on my accounts receivables.
Katie: What would you say to prospective clients of Capital Now?
Rathe: If factoring is the tool you are wanting to use, then Capital Now is who you need to be talking to.
Capital Now is who you need to be talking to. — Rathe
Katie: What can we do to surprise you? What can we do, not to make this better, but to make you tell everyone about it?
Rathe: Be more competitive on the rates. You are truly competitive with other factoring companies, but not with other forms of lending. Funding my business through a factoring company feels a little like a last resort. Give me a rate that doesn’t eventually drive me elsewhere.
Katie: Do you have any additional feedback or suggestions for Capital Now ?
Rathe: Make other products available for your clients. As my business grows and my cashflow improves I will be able to find other sources of lending that are less expensive. It would be nice if Capital Now had products that would continue to serve me.
Also published on Medium.