Transportation & Freight Bill Funding
A flexible funding and collection service that enables you to focus on delivering more loads and taking on new customers.
With freight bill funding, we can accelerate the cash flow for transportation and freight companies of any size. You receive fast access to working capital so you can…
- Hire drivers
- Repair or replace an engine
- Make a down payment
- Pay taxes, registration fees, or insurance premiums
- GROW YOUR BUSINESS
How Does It Work?
You send us the freight bill and bill of lading associated with the load you delivered. We will pay up to 97% of the total value of that bill, usually within 24 hours.
We provide an account manager to take over the collection process while you find your next load. Once the bill is paid in full, you receive the balance of your money minus a small fee.
Invoice delivery is flexible and there are no hidden costs to our transportation factoring services.
Do You Need Credit Protection?
Recourse and non-recourse factoring are available options.
Recourse factoring means you take on the risk of having to reimburse the freight factoring company if the shipper or broker delays or refuses to pay.
Non-recourse factoring means we take on the credit risk if the bill is not paid. This option maximizes your flexibility and reduces your paperwork. . You receive total credit protection against loss due to shippers going out of business or other credit problem.
We tailor our solution to fit your needs.
Solutions
Freight Broker Factoring
Whether you are a startup or an established brokerage, you can improve your credit rating with Freight Broker Factoring.
You receive back office support:
- Payment in 24 hours or less
- Collection management services
- 24/7 online monitoring system
Carrier benefits include:
- A variety of quick pay options
- Multiple payment methods
- Timely and consistent payments
Broker benefits include:
- Immediate cash availability
- Increased capacity
- Business growth
Recourse Factoring
We collect for you while maximizing your savings. Our recourse freight factoring solution gives you our best rates with the highest advance and the lowest fees.
Reduce your paperwork and get fast access to cash:
- We handle invoicing and collections
- Application takes five minutes
- You can be approved within a single day
- Funding can be available within 24 hours of receipt of your freight bills
- You can get electronic copies with debtor acceptance
Non-Recourse Factoring
You can stop chasing invoices and let us take the credit risk. We handle invoicing and collections. You reduce your liability.
Maximum flexibility:
- No term contract
- No reserve
- No minimum
- No setup fees
Get fast access to cash:
- Application takes five minutes
- You can be approved in one day
- You can receive funding within eight hours of receipt of your freight bills
Freight factoring quickly improves cash flow if your customers tend to pay 30, 60, or 90 days after you deliver the load. Instead of waiting, freight factoring gets you cash in 24 to 48 hours of receipt of your freight bills. Once the bills are paid in full, you receive another shot of cash as the factoring company pays you the remaining balance minus a small fee.
Knowing you can get payment quickly and on a regular basis allows you to retain drivers, deliver more loads, and implement a business strategy to grow.
You don’t have to make collection calls.
Calling repeatedly to ask for payment is stressful and unproductive. We provide invoice and collections services so you no longer have to chase down delinquent accounts.
Never again turn away business because of a cash flow problem or because you need to spend time making sure you get paid.
Creative funding with credit cards will be a thing of the past.
Have you been trying to plug the gaps with credit cards or bank loans? Freight factoring is less expensive than paying interest on credit card balances and bank loans. It’s also easier to apply for.
Factoring for the trucking industry is a better option.
If your freight company is a startup, or a minority or woman-owned business, we are dedicated to helping you grow and thrive in the highly competitive trucking industry.
All you need to do is submit an application along with documents to support your business registration, ownership, and load volume. Most of the time there is no term limit required and your credit is only limited by how much business you do.
Freight factoring is an alternative to borrowing without encumbering other valuable assets.
A regular business loan would require you to use your business or personal assets as collateral. If your cash flow is squeezed and you miss loan payments, your assets may have a lien placed against them. Factor funding keeps your cash flowing without endangering your property.