TRUCKING INVOICE FACTORING FREE

However, one of their biggest customers required 45 – 60 day terms before paying their invoices.

A Freight Factoring Success StoryĪlexis Group Logistics, a trucking company located in Baton Rouge, Louisiana, was growing quickly. It’s convenient to have all of your financing in one place by adding equipment term loans into your working capital line of credit. Trucking companies can finance up to 90% of their equipment purchases and receive loans with terms up to 48 months. From trailers to lifts to cargo straps, equipment loans can help fuel growth and meet customer demands. Many factoring companies, like Catalyst Financial, can also offer equipment loans to help grow your fleet. With the flexible nature of freight factoring, small businesses can factor as few or as many invoices as they need to operate efficiently. Factoring services help you seize the business opportunities quickly. This is especially important in the current landscape where freight companies have new opportunities every day. As long as the freight company works with credit-worthy brokers and shippers, the factoring company can grow quickly with the freight company. No Set Limitsīank lines have limits, and companies have to request increases that take time for approval. Vendors know that working capital allows for negotiation of terms and savings that are more favorable for them. This helps freight companies get to know their customers, lowers costs, and provides a sense of security before hauling.įreight factoring also gives suppliers and vendors a sense of security in the freight companies. This means that, as part of setting up your account with the factoring company, they run your customer’s credit for you. Instead, it is based on the credit of the company the freight company is hauling for.

TRUCKING INVOICE FACTORING FREE

Free Credit Checksįreight factoring is not based on the freight company’s credit. For larger businesses, freight factoring can help to maintain a positive cash flow.īecause funds are received quickly, trucking company owner-operators can spend more time on areas of their business that allow for greater profitability. For small or startup businesses, freight factoring means more working capital and cash flow. Once a freight company has an established relationship with a factoring company, they can provide funding as soon as a load is delivered. And because this funding happens quickly, these tasks can be accomplished on-time. This allows business owners to pay drivers, buy fuel, pay for repairs, and pull more loads. Then fill up at an in-network truck stop and the savings you make could very easily offset the entire cost of factoring.Freight factoring funds flow directly into the freight company’s bank account. Get one of our fuel discount cards and have some of your available funds applied to the card. So, factoring with Eagle Business Credit/Cashway is already a great deal, but did you know there is a way that you could potential offset the cost entirely? That would be like getting everything for free! What a deal. Choose a non-recourse factoring plan and you’ll be protected from potential bad debt losses if your customer fails or files for bankruptcy, included as a standard feature of the program. Credit protection? Now that’s got to be expensive right? Wrong. Plus, we have industry leading rates, with no hidden fees to surprise you. There is never a cost to apply and set your account up and we do all your invoicing and collections work for you too, also free of charge as part of your factoring facility.

Think the cost of factoring is expensive? Think again. We also offer access to many different load boards or can recommend a dispatcher to help find runs. Account information is available to clients 24/7 via their personal online account.We also offer fuel advances to clients in good standing that have been with us for more than 3 months.You let us know how you want to get your money and we’ll make it happen. Options include Wire or ACH, fuel cards, debit cards, Comchek (or a combo of them all). If all paperwork is received by 3PM EST we provide free, same day funding.We are easy to do business with! We use electronic documents for on-boarding new clients and simple systems to submit your rate confirmation sheet and signed bill of lading when you need funding.In the unlikely event a client is not happy, they are free to leave whenever they want to, penalty free. Our clients stay with us because they want to not because they have to. All of our standard rate plans have no long term contract terms.Our clients are serviced by friendly and experienced staff, based in our Woodstock, GA offices, who are available to speak to you when you need them.

Trucking invoice factoring