If you’re considering freight factoring for your business, we’ve got the ultimate Q&A to help you make an informed decision.
Read on as we answer all your frequently asked questions about factoring.
What will EZ Freight Factoring do for my trucking business?
Consider EZ Freight Factoring a matchmaker. We will pair your trucking business with a factoring company that best fits your wants and needs. Instead of your business spending hours trying to find the lowest rates or the fastest turnaround, you can sit back and focus on your business while we do the work for you.
Are startups eligible for freight invoice factoring?
Yes, start-ups are eligible for freight invoice factoring. Factoring even provides funding for owner-operators who are just starting up!
Does freight factoring require a sign-up fee?
No, freight factoring does not require you to pay a sign-up fee.
Does my credit score affect my ability to factor?
No, your credit doesn’t affect your ability to factor. Freight factoring companies collect payment from your customers, so even those with poor credit can freight factor.
Do I have to factor all of my freight bills?
No. You choose which loads to factor. Freight bill factoring provides trucking companies with flexibility and does not have any minimum volume requirements.
Will I be locked into a long-term factoring contract?
No, you will not be locked into a long-term factoring contract. If you want to stop factoring, you will just have to give the factoring company a 30-day notice.
How is the money sent to me?
Money is typically sent directly into your account electronically by bank wire or ACH. Direct deposit and wire transfer provide immediate cash. Clients can also have funds sent directly to fuel card accounts.
How can I start?
Fill out our quick online application or call us to get started immediately. Simply answer a few questions and we’ll match you with a freight factoring company that fits your business’ wants and needs.