FREIGHT FACTORING FOR TRUCKING COMPANIES
Fuel advances and rates as low as 1%. It’s easy to qualify!
Haul and deliver the load. Get paid right away. Freight factoring for trucking companies ensures carriers are paid immediately for loads delivered. It doesn’t matter if your shipper or broker pays on 30+day terms, your trucking company receives the cash in 24 hours or less.
Freight factoring is an easy way to boost your cash flow by selling your invoices to a factoring company for an instant advance. Once you’ve delivered your load, a factoring company purchases your invoices and advances your company the cash on the same day. Funds can be received via direct deposit or placed right onto your fuel card if you prefer. Advances range between 95%-97% of the invoice amount.
Don’t worry about wasting time searching for a reliable factor. Give us a call and we’ll do it for you! Here are just some of the perks included when you use factoring for trucking:
Free fuel card programs – EFS and Comdata fuel cards provide truckers with discounted fuel options at all major truck stops and refueling stations across the US and Canada. Manage driver spending and reload cards at any time to control your fuel costs.
Access to online load boards – maximize profits by finding the best loads to haul. More sales = greater factoring potential.
Free credit check services – your trucking factor will run credit checks on your potential customers so you can haul with confidence.
Fuel advances upon load pickup – receive up to a 50% advance on your freight bill when you pick up a load to cover fuel costs for the haul.
Same day funding – once you are approved, your trucking company can transfer funds the day you submit your freight bill. Less waiting means you can cover your expenses faster.
No minimums – trucking factors offer competitive rates to fund even the smallest freight bills.
No setup fees – start today, free of charge.
No long-term contracts – factoring for trucking is flexible and does not require any lasting commitments.
Non-recourse factoring options – let the factor assume the risk of non-payment with non-recourse factoring. Even if customers fail to pay their freight bills, the factoring company will take the loss.
If you’re waiting to get paid for loads that have already been hauled, your trucking business could be missing out on new opportunities to make money.
Every business experiences highs and lows. It can be difficult for small businesses to deal with a downturn in profits without cutting spending and releasing staff. Luckily, trucking businesses can counteract a lapse in earnings by factoring freight bills.
Start-ups and small businesses are always looking for ways to compete with their larger rivals. But, initial success is rare and businesses often lose a lot of money before they make it back. Small trucking businesses get the funding they need when factoring freight bills. Transportation factors provide cash immediately so trucking companies can invest their funds forward and compete against bigger businesses
Trucking businesses and owner-operators with bad credit may still be eligible for invoice factoring because factoring companies collect payment directly from your customers. Truck factoring companies are only concerned with the credit of your customers so you don’t have to worry about your personal or business financial history.
Banks loans can take months to get approved and charge high interest rates, leaving small businesses in debt and despair. Fortunately, unlike a bank loan, trucking factoring provides businesses and owner-operators money without putting them in debt later. Get funding that is fast, reliable, and all yours by factoring for your trucking company.