Even if you’re currently with a freight factor, contact us to see if we can beat your current factoring deal! We have the ability to do the legwork for you to find low fees and competitive programs that fit your exact needs. There are lots of factors our there, so it’s a smart move to get multiple quotes. It’s important to know what to look for when choosing a freight factoring company. You can track their progress using their online reporting services, which are available 24/7. Our freight factoring partners offer credit and background checks when you begin hauling for a new customer and can spearhead collections efforts. Save money and time with back office support & free credit checksĭon’t waste your valuable resting time trying to collect from your customers or qualify new ones. Typically, fuel advance rates range between 40% – 50% of the freight bill value. Monitor your drivers’ spending and take advantage of additional discounts from refueling partners.Īnother option is a fuel advance – the factoring company advances a smaller portion of the freight bill when you pick up the load, instead of when you deliver, so you can pay for the gas to get to your destination. Many non-recourse factors offer discount fuel cards that you can use at thousands of refueling stations nationwide. Use fuel benefits to keep your trucks running There are no minimum or maximum amounts to factor, so you can submit only the freight bills necessary to maintain your cash flow on the road. Control your factoring costs by factoring when and how much you want Scan or fax a copy to receive your funds. Only a clear copy of the freight bill is required. If advances within hours and a risk-free guarantee have not already swayed you, consider the following additional benefits of a non-recourse freight factoring relationship: Factor your freight invoices from copiesĭon’t waste time and money sending originals. How Can Non-Recourse Factoring Help Your Trucking Company? If you’re looking for the best factoring rate out there, we know where to find it. You will have more cash on hand without adding to your debt and without limits on how to spend it. We work with freight factoring companies nationwide that offer competitive, industry-low rates for non-recourse freight factoring. Flat fee factoring prevents you from paying more no matter how long your freight bill remains open and means that you can easily incorporate your factoring costs into your operating budget. There are no hidden costs with a non-recourse option. You will always know what you are paying thanks to flat rates When you choose a non-recourse program, the trucking factoring company assumes the risk of nonpayment so you can keep your working capital even if your clients fail to pay outstanding invoices. Slow and non-paying customers are a risk in any industry. You get the cash you need, even if your customers fail to pay Non-recourse factoring is best for small trucking companies that haul for a variety of shippers and brokers, and would take a big hit by non-payment. By factoring with non-recourse, if your customers don’t pay the invoice, the factoring company takes the loss. Do you need a guaranteed alternative financing option to cover your trucking company’s expenses? Non-recourse factoring ensures that you’ll always get paid no matter what.
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