Alliance One - Invoice Factoring Veterans Memorial Hwy, Hauppauge, New York

Alliance One - Invoice Factoring Reviews

4.1 stars based on 13 reviews

Featured Comments:

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  Matt Murry

  5.0

  Alliance One literally saved my staffing business in March of 2020 when we had a client that was refusing to pay us. That (now former) client thought we were sending them to collections after getting a call and email from Alliance One and sent us a check for $36,000 to pay all outstanding invoices. Alliance didn't charge us a dime for that (and I was hooked!). Since then we have regularly factored our invoices with Alliance One on a weekly basis. While we have paid a substantial amount in factoring fees the last 2 years it is simply money well spent to avoid the heartache of carrying other company's debts. We have experienced exponential growth, we have the flexibility to take on large projects that were unthinkable when we started. As of late it's turned into a competitive advantage because no matter what our invoices need to be accurate and approved by our clients which is a huge help to an HR department if they're ever audited because Alliance One's documenting process required for funding means there's always a paper trail. Our company clients have referred employees to us on purpose because we have a meticulous payroll process that reflects our invoicing practices. The biggest challenge with a growing business is the fiscal squeeze felt as it grows because there is a constant need for more money to cover the various expenses associated with growth (taxes, supplies, advertising, etc.) Dave and his team have been incredibly flexible with me and have fully met my needs whenever I've felt pinched. We have had an excellent experience with Dave, Jaime, and the team and would highly recommend them for any factoring or accounts receivable needs your company may have.

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  Michael Holton

  5.0

  My company has been factoring my invoices with Alliance One LLC for over 10 years, they are a fantastic company. I recommend them at every opportunity that I get. My company is payroll heavy, without Alliance One, I would not be able to pay my staff. A big thank you to Dave and the Team at Alliance!

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  Dexter Price

  1.0

  My reviews are scored based on experience and to either give referrals or advise "buyer beware". I use reviews a lot before making decisions and hope this serves useful to anyone reading. Alliance one seems to be a decent company on surface. It had decent reviews, and Mr. Divinio (sales rep) was very personable. Once my account was "approved" things went downhill when I was assigned an account manager Mrs. Grignon whom often spoke over me and several of my clients referred to as "obnoxious". Based on my experience i I would have to agree with them. When I first contacted AllianceOne, I clearly communicated the expediency in which I needed Factoring to take place and asked whether or not they could do it in said timeframe. I was assured by my account manager and also the CEO Mr. Albrandi that what I communicated could be done in a timely manner. I will take a moment here to say I was very persistent and consistent in communicating said needs to both my account rep and the CEO, which may have been a turn off causing the deal to fall short. Which I was fine with there are plenty of other factoring companies out there, and I was able to get a deal done in a timely manner with another company. The reason why I advise anyone who considers this company to beware before buying is that professionalism can quickly go out of the window when dealing with this company. As mentioned before I communicated my need for funds because i had urgent payroll liabilities to take care of. This company not only fell short on delivering but they held funds from another company for DAYS. They were aware that had a new factoring facility and that a release was coming from my previous one and still held the money knowing that I had a dire need. On top of that, their ability to hold these funds came from the account manager prematurely reaching out to my clients with a Notice of Assignment before the deal was closed out causing my clients to mail them a check directly. This check was for over $7k which may not be much to them but is a significant amount to me. While I could expound upon my disappointment with this company, I will simply leave it at Buyer Beware, and if you do go forward and things go awry "I told you so".

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  Response from the owner

  We do our best to provide excellent service to all of your customers. We are sorry to hear that Mr. Price feels he was treated poorly by Alliance One. In all the years in business, this is something that we do not hear very often. There is a process in getting approved and funded, while there are always small bumps in the road, the system does happen quickly. There are multiple steps that have to take place before we can fund any account for the first time. Some of the steps are not in our control as we need assistance from the customer and their account debtors. We need to verify the invoices and we also need the account debtor to sign off on our “notice of assignment”. There was also another financing company that was owed money and we needed to pay them off, before we can send Mr. Price his funds. During our verification process, we realized that the amount that was verified was not enough to cover the outstanding balance owed to the old finance company. While we were preparing to fund Mr. Price, once we had all the appropriate paperwork, he gave us a hard deadline on Tuesday September 21st, that we needed to fund him by 1pm. Mr. Price told us if we could not meet this deadline that he would go elsewhere. When we are not able to meet Mr. Price’s hard deadline, the file went from approved status to declined status. At this point, we reached out to the other financing company, that was owed money, to inform them that we would not be moving forward with financing of Mr Prices receivables. We did receive payment from Mr. Price’s customer and once the check cleared and we received authorization from the old lender’s attorney, Alliance forwarded the funds to the new lender. From our side, Mr. Price displayed much anger against our company because we could not meet the time table that he set. After his account was declined, Mr Price, in multiple emails apologized for his behavior, which we accepted but he failed to mention this in his complaint. We do not want to include the actual emails in this response because it is not our intention to embarrass Mr. Price. We must follow the banking guidelines before we can fund any account. We never want to disappoint any potential customer. We want to close each and every deal, as fast as we can, but sometimes it’s out of our control. Again, we apologize to Mr. Price if his experience with our company was less than most of our customers feel.

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