Freight Bill Factoring - Carriers and Brokers
Waiting up to 60 days to get paid? Don't!
Waiting 30 to 60 days to get paid for your freight bills can be very difficult, especially for growing carriers and freight brokers. Slow payments can create cash flow problems and impact your ability to pay your own expenses. If you are working with reputable clients, shippers and freight brokers, we can help get your invoices funded quickly. We work with trucking companies and freight brokers in the USA and in Canada.
What can freight bill factoring do for you?
Factoring your freight bills allows you to turn your invoices into immediate funds. It eliminates having to wait for slow paying customers. It gives you the working capital to pay drivers, fuel, repairs and other expenses that keep your carrier running. Our programs are easy to qualify for, quick to set up and inexpensive to use.
Factoring rates as low as 1.5%. Advances as high as 95%.
Click here for a quick quote or call (866) 730 1922!
(subject to monthly volume and industry).
The main benefit of using our services is that your transportation company will get money for it's invoices - quickly. In turn, this will help you grow as you take on new shippers and customers without worrying about slow payments. Additional benefits include:
- Eliminate the worry of guessing when you will be paid
- Take new loads with confidence
- Optimize costs using fuel cards
- Get money to pay drivers, buy fuel and pay for repairs
- Minimize collection worries
- Flexible financing that grows with your carrier/brokerage
- Quick setup
How does freight factoring work?
Freight bill factoring is easy to use and widely accepted in the transportation industry. It can be deployed easily by most carriers and brokers. Here is how it works:
- You deliver a load and submit the paperwork
- You get a first advance of 90% - 97% of the invoice/bill of lading.
- We handle all collection activities and settlement
- Once the freight bill is paid, you get the amount that was not advanced, less the fee
Note that freight brokerages can only qualify for a maximum advance of 90%. The remaining 10%, less the funding fee, is advanced once the invoice is paid in full by the shipper/customer.
Want to learn more about our transportation financing program? You can get additional information at our Freight Factoring Resource Center or by calling us at (866) 730 1922.
Additional transportation factoring resources:
- How to finance your transportation company with freight bill factoring
- Freight factoring for trucking companies
- What is freight bill factoring? (Video)
- Your shipper won't offer a quick pay? One solution for transportation companies
- Financing for freight brokers
- Freight bill factoring for Canadian trucking companies
- How to use factoring to finance a trucking company
Get funded quickly! Get an instant quote. Or call us at (866) 730 1922.