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Trucking Factoring

At factoringquotes.com, trucking factoring is easy. We offer trucking factoring programs in which your freight bills are purchased, and then we advance you the cash within 24 hours. When you factor your freight bills with us, you know you're getting advance rates up to 99% with fee structures that are some of the lowest in the industry. Trucking factoring rates start as low as 1% for our largest customers and top out at 5% for one truck customers. We also allow trucking factoring customers to choose which freight bills they want to factor, providing the flexibility that most smaller trucking companies need.

We can even provide fuel advances if needed off your rate confirmations. The fuel advance is typically around 40% of the total rate confirmation. Very few transportation factoring companies and provide funds for fuel before the load has been delivered!

We can handle a wide range of trucking factoring needs. We have great programs for one truck owner operators, but we can also handle monthly freight bill factoring needs in excess of $25 million for larger customers. We also offer all the bells and whistles which include paperless funding via the trip pack scanning program and free online real time reporting. You can even get 24 hour online load credit checks so you know the credit quality of the load any time of the day. I really don't know any trucking company that only works business hours so why would you work with a factoring company that cannot approve loads around the clock?

Want a quick quote? Please click here to get a great rate.

Questions? Call us at 1 (877) 876 2803 now (toll free).

Click here to get a quick quote.

Take a look at some of reasons hundreds of trucking companies decided to factor freight bills with us.

  • No up-front fees in most cases.
  • Advances made within 24 hours.
  • Free quick credit checks for your new customers.
  • No add-on fees - your factoring fee is your total cost.
  • Rates as low as 1%.
  • Advances on freight bills up to 99%.
  • Free electronic bank transfers and bank rate wires. Believe it or not, most factoring companies actually inflate the wire fee as an extra "hidden charge" to you.
  • Freight Brokers are welcome!

Are delayed payments putting a strain on your trucking company? We can help with a transportation factoring program custom tailored for your needs.

How Does the Freight Bill Factoring Process Work?

  1. Apply for a quote via our online application or by calling 1 (877) 876-2803.
  2. After getting your approval on our terms, we will overnight your final documents.
  3. You send your original invoices and bills with any other back up items that your customer may require for billing. We also offer fax and image scanning to reduce paper work in some cases.
  4. Before funding occurs, we will perform Due Diligence and confirm your company does not have any liens or legal issues.
  5. We verify your bills and make the advance electronically to your existing checking account. The advance is normally 80% to 98% depending on the credit worthiness of your customers. Your customer then sends the payment directly to us. After receipt of payment, we make the remaining amount in reserve available to you less the factoring fee.

Get Started With Trucking Factoring Now!

Give us a call at 1-877-876-2803, and we can start the process for you. You can also fill out our quick trucking factoring application form by clicking here. We respond to all online inquires within one business day or less.

We are currently offering trucking factoring nationwide, including the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

We also provide this service in Canada: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Umlaut, Ontario, Prince Edward Island, Quebec, Saskatchewan, and Yukon.

Want a quick quote? Please click here to get a great rate.

Questions? Call us at 1 (877) 876 2803 now (toll free).

 

Additional Information on Trucking Factoring from the owners view.

Trucking Factoring is a very common means of funding for today's trucking companies. The business climate today tends to make the trucking company act as the bank for all the customers. When customers expect you to perform your service and then extend 30, 40, or even 50 days of credit your acting as a bank. Truck factoring can allow you to outsource the bank function to the factoring company and this improves your cash position.

If your like most trucking companies you did not start your business with the expectation of being the bank for your customers. Truck factoring can get you back to what you do best and leave the banking up to the truck factoring company. What makes this the most irritating for the trucking company is that the larger companies are the ones that like to use your money the most. They expect the use of your hard earned trucking business money at no cost to them. These larger firms in the trucking industry often use "keeping the business" as a means to keep stretching out the credit terms on the small truck companies. Truck factoring will allow you to operate effectively in this environment even with the bigger firms.

Every freight hauling and trucking company needs to decide if factoring the freight bills makes sense. If your business is passing up business by waiting to get paid then it may make sense to try truck factoring. Maybe the trucking business could use the funds productively within the business if the payments came in the same day you billed the customer. With trucking and freight bill factoring you will get paid the within 24 hours of issuing the freight bill and invoice. Many transportation companies discover that they can be more profitable when they are paid sooner rather than a month or so later.

Trucking factoring is now becoming very common as customers continue to pay later and later. We have helped thousands of trucking companies get back to predictable cash flow and leave behind managing the mail box for payments. With today's banking environment we have helped these trucking companies obtain the working capital they need by factoring freight bills. Most banks do not fully understand the trucking business and often cannot provide the needed working capital. Since we specialize in truck factoring we are able to provide working capital by evaluating the credit of your customers so we can get your trucking company the needed operating cash flow.

We are proud to provide truck factoring services to the companies that keep the goods moving. Freight movement is the basis for the entire economy to keep moving ahead and we need to keep the cash flowing as our trucking clients keep the goods moving.

If you would like to discuss trucking factoring with a former over the road driver feel free to give us a call at 1-877-876-2803.

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