Onyx IQ and Centrex both sell MCA funders a system to take in ISO deals, underwrite them, sign contracts, collect by ACH and pay syndicators. Neither publishes a price. The difference is focus: Onyx IQ is built tightly around the funder's workflow, with AI inbox intake, scorecards and collections automation. Centrex is a wider suite that also serves brokers, loan companies and syndicates, with white-label portals and a merchant app.
This comparison is for MCA funders and hybrid shops picking between them, using only what each vendor publishes on its own site. If you run a broker shop rather than a funder, our top pick is Ferrylend, a broker CRM with lender matching and multi-lender submissions at a published per-user price; it doesn't service deals, so funders should stay with this comparison.
Here's the TLDR (checked October 24, 2026):
- Ferrylend (our pick for broker shops): the one we'd look at first for broker shops, because lender matching, stamped submissions, offers and commissions sit on one deal record at $69 or $99 per user per month. It doesn't run ACH, servicing or syndication, so it isn't an Onyx IQ or Centrex replacement for a funder.
- Onyx IQ - Best for: MCA funders with steady ISO deal flow who want submissions read from their inbox, auto-decisioned by their own scorecards, and collected with retry logic and a backup processor. Claims SOC 2 Type II. Quote only.
- Centrex - Best for: hybrid broker-funders and multi-product lenders that want CRM, servicing, syndication, a white-label client portal and a merchant app from one vendor. Quote only, billed per active user.
The verdict
Pick Onyx IQ if you're a pure MCA funder and the pain is volume: ISO submissions piling up in an inbox, underwriters re-keying applications, failed payments falling through the cracks, and investors asking for statements. Onyx IQ documents automation for each of those, plus static pool and GAAP or accrual reporting and a SOC 2 Type II claim, which matter when you report to capital partners. It also connects to the CRM your sales team already uses.
Pick Centrex if you broker as well as fund, or you lend beyond MCA today. Centrex has a broker side (lender matchmaking, multi-lender submissions), live loan servicing, and it sells to mortgage, SBA, equipment-leasing and factoring companies too, while Onyx IQ's commercial-lending edition is behind a waitlist. Centrex also gives you a white-label client portal with your URL and a white-label iOS and Android app for merchants.
Onyx IQ vs Centrex side by side
| Onyx IQ | Centrex | |
|---|---|---|
| Built for | MCA funders and direct lenders (commercial-lending edition on a waitlist) | MCA brokers, funders and syndicates; also loans, mortgage, SBA, equipment, factoring |
| Pricing | Not published; demo only | Not published; billed monthly per user who logged in, with an agreement minimum |
| Free trial | No | No |
| Deal intake | AI reads ISO emails and attachments into deal records; two-way Outlook and Gmail | ISO/broker portal; Lender Submission API for deals sent by Centrex users |
| Decisioning | No-code credit scorecards that auto-approve or auto-decline; up to six approval options | Multi-advance tracking; bank statement and credit integrations |
| ISO offer portal | Branded portal to view approvals, pick offers, upload stips, downsell; lockable fields | ISO portal with branding and email/SMS triggers |
| E-sign | SignIQ (its own) and a DocuSign integration | ClixSign (its own) |
| Collections | Daily ACH with retry logic; backup processor; failed-payment queue with automatic email and text; one-click legal handoff | Four daily status updates; auto NSF; drafts stop on certain return codes; fixed 2:30 PM CST batch |
| Syndication | Participations and fees per investor; payouts on funds received; wallets; investor logins with statements and tax documents | Syndicate portal; batch ACH payouts; optional waterfall; wallets via Cuttlefish |
| Reporting | Collection curves, static pool, month-end funding, GAAP or accrual | Managed Data Cloud (Snowflake every 15 minutes), separate proposal |
| Merchant app and portal | Not described | White-label client portal and iOS/Android app |
| Broker-side CRM | No; connects to HubSpot or Salesforce | Yes |
| Security | SOC 2 Type II listed; AWS across two regions | AES-256 at rest; SOC 2 belongs to its data center |
| Onboarding | "within a two weeks", per its FAQ | Not published; integrations enabled by its team |
Pricing
Both are quote-only. Onyx IQ publishes no pricing page; its FAQ says demos run "roughly 45 minutes to an hour". It does say it connects you to ACH processors, credit bureaus and background-check partners "often at volume pricing below retail", and pulls Experian credit through CRS at bulk pricing, without giving numbers. Its own e-sign tool means you aren't paying by the envelope.
Centrex publishes a billing policy instead of prices. You pay monthly in arrears for every user who logged in the prior month, with an agreement minimum, and add-ons are monthly "enhancement" fees. Many integrations, including credit bureaus, phone systems and SSO, are sold separately. Our pricing comparison covers what every MCA vendor does and doesn't publish.
Intake and underwriting
Onyx IQ's origination module is its headline: "ISOs send deals to your submissions inbox as usual. The email and attachments land inside Onyx IQ automatically", where AI reads them into a deal. No-code scorecards then approve or decline automatically ("Deals below your thresholds decline automatically, and the ISO is notified"), and it can send up to six approval options for the ISO to choose from. Disclosures are generated automatically, and returning merchants are recognized with their prior deals carried over.
Centrex gives ISOs a portal to submit deals, and on the broker side it has lender matchmaking and one-click submissions. Its funder underwriting is described in less detail: multi-advance tracking plus integrations for bank statement validation and credit reports, many of them paid enhancements.
Collections and servicing
Both run ACH, and both are detailed. Onyx IQ's servicing page describes "Automated daily ACH with retry logic", a backup processor that "keeps pulls running if one goes down", pulls that skip bank holidays, a Payment Issues queue that emails and texts the merchant automatically, and one click to package a file for a collection agency or law firm. It also pays ISOs by ACH from the platform.
Centrex's MCA servicing covers CC split or ACH programs, daily to semi-monthly drafts, four daily transaction status updates, auto NSF with an optional fee, and drafts that turn off on certain return codes. It sends a monthly 60-day return-rate report against NACHA thresholds. Batches run at 2:30 PM CST and can't be moved. Centrex also services loans, with amortization and a loan module added in March 2026.
Syndication and investor reporting
Onyx IQ sets participation percentages and management fees per investor, calculates payouts only on funds actually received, keeps virtual wallets with a ledger, and lets investors log in for statements and tax documents. Reporting includes collection curves, static pool and GAAP or accrual reports.
Centrex's syndication includes a syndicate portal, daily syndicate emails, Exhibit A's sent for e-sign, batch ACH payouts, servicing-fee and override fields and an optional waterfall. Investor wallets run through Cuttlefish Payments, and a Supervest integration connects to syndicate capital. For deeper reporting, its Managed Data Cloud syncs your data to Snowflake every 15 minutes, though report building is a paid consulting extra.
Where each one falls short
- Onyx IQ: no published pricing; MCA is the only clearly live edition; no outbound submission or lender matching for brokers; and its e-sign messaging is mixed (SignIQ is marketed, while the FAQ describes a DocuSign integration).
- Centrex: no published pricing; many integrations are paid enhancements its team switches on; fixed batch times; some help articles limit ACH Works and DecisionLogic to the business-loan file type; and its SOC 2 claim is its data center's, not its own.
If you're a broker rather than a funder, neither is aimed at you first.
Where Ferrylend fits
Ferrylend is a newer CRM for MCA and business-funding brokers. It covers the broker's side of the deal: lead import, an application link, bank statement figures, lender matching with a reason for every result, stamped multi-lender submissions, offer comparison with your commission, commissions and renewals. Core is $69 and Pro is $99 per user per month, with a $999 setup fee waived for workspaces created through December 31, 2026.
It doesn't do what this article compares Onyx IQ and Centrex on: its funder page says it doesn't debit merchants, run an ACH schedule or keep a syndication ledger. It's also newer, so it has no independent reviews yet, and its dialer, SMS, bank connect and lender API connectors are coming soon rather than live. See Ferrylend vs Centrex for how it compares with Centrex's broker side.
How to choose
- If you're a broker shop, start with Ferrylend, our pick for brokers.
- If you fund only MCA and want automation from inbox to collections, start with Onyx IQ's demo.
- If you broker too, lend beyond MCA, or want a merchant app under your brand, start with Centrex.
- Ask both for a written quote, onboarding time and how data is exported if you leave.
- If capital partners require SOC 2, ask each for the report itself.
More options: our MCA funder software roundup, Onyx IQ alternatives, Centrex alternatives and Centrex vs LendSaaS. Brokers should start with our best MCA CRM list.
FAQ
How much does Onyx IQ cost?
Onyx IQ doesn't publish pricing as of October 24, 2026. Pricing comes after a demo, and it says some third-party data and ACH costs are passed through at volume rates.
Is Onyx IQ a CRM?
It's a loan management system for funders rather than a sales CRM. It says it connects to HubSpot or Salesforce if your sales team manages ISO relationships there.
Does Centrex or Onyx IQ have SOC 2?
Onyx IQ lists "SOC 2 Type II" under its controls and security. Centrex's security page attributes SOC 2 compliance to its data center, ServerCentral, not to Centrex as a company.
Can brokers use Onyx IQ?
Only as ISOs using a funder's offer portal. Onyx IQ has no outbound multi-funder submission or lender matching, so a broker shop needs a broker CRM.
Short version: an MCA-only funder that wants automation and investor-grade reporting, Onyx IQ; a hybrid or multi-product shop that wants one branded suite, Centrex.
Disclosure: Ferrylend is made by Digital Mundo, a separate company with the same owner as Gold Penguin. We rank it first, and we've kept its drawbacks in plain view.
