Custom freight factoring programs for trucking fleets of all sizes.
Freight factoring is a popular funding method for the transportation industry. By factoring freight bills, truckers are able to maintain steady cash flow and increase working capital – with zero debt.
Freight Factoring Rates from 1%
Low freight factoring rates start at 1%. Getting approved for freight factoring is easy– even with bad credit, or lack of business history. If your business has been turned down by banks, you can still get funding by factoring freight bills.
Factoring for Owner-Operators
Factoring services designed with small trucking companies in mind. Owner-operators can factor freight bills with no monthly minimums and no long term contract. With no minimums, you will not be required to factor every shipper and/or broker you work with.
Recourse & Non-Recourse Factoring
We offer recourse and non-recourse freight factoring so you can pick which program works best for you. With a non-recourse factoring agreement, the factor assumes the risk of nonpayment, protecting you from unreliable customers. Non-recourse freight factoring fees tend to be a bit higher, typically between 4% – 5%. Recourse factoring fees are lower – and can start as low as 1%.
Both recourse and non-recourse programs offer a flat fee structure with a full advance. This means you’ll get 100% of the funds upfront.
More Freight Factoring Benefits
- No setup fees to start factoring
- Quick application process
- Fuel card discounts
- Bad credit or no credit is a-ok!
- Cash flow to grow your trucking company
Yes, You Can Qualify for Freight Factoring
Approval is based on your customers. If your trucking company hauls for creditworthy shippers and brokers, you’ll be approved within 3-5 days – even if you have poor credit. Freight factoring helps start up trucking companies get the money they need to grow. But factoring isn’t just for start-ups. Plenty of truckers factor freight bills because they like the upfront cash and it gives them the cushion to accommodate any highs and lows in sales patterns.