Unpaid Invoices? Get Paid Today with Freight Factoring!
Tired of waiting for your freight bills to be paid? Need money for fuel? Consider freight factoring.
Freight factoring companies provide same day cash for freight bills. Our transportation factoring services can help you obtain the necessary cash for fuel, insurance, repairs, equipment, and all your on-the-road expenses today. With the most competitive factoring rates and no monthly minimums, Factor Finders is a leading factoring service provider to trucking companies of all sizes.
Owner-operators shouldn’t have to bypass high paying loads because they’re short on cash. With factoring, truckers can haul every load with confidence. If you run a large fleet of trucks or operate a single truck, we’ve got your cash flow needs covered. You can rely on Factor Finders to help secure the funding you need with our freight factoring services. Freight broker factoring is also available.
It’s your money, we just help you get it faster.
How Does Freight Factoring Work?
For truckers, the factoring process is pretty simple.
1. To apply for transportation factoring, you’ll need to complete an application and submit the following documentation:
- Operating authority
- Proof of insurance
2. Once you’ve been approved, submit copies of the freight bills you wish to factor.
3. Receive cash within 24 hours.
Get a Fast Quote
Rates from 1%. Easy approval.
Grow Your Trucking Company with Freight Factoring
Flexible Truck Factoring Services
When choosing a truck factoring company – flexibility is key. Whether you want non-recourse freight factoring, the freedom to choose which clients to factor, or no monthly volume requirements – you can have it all. Factor freight bills when you want and for however long you want. No long term contracts are required.
- Recourse & Non-Recourse Programs
- Month-to-Month Contract Terms
- No Minimum Volume Requirements
- No Set-up Fees
- No Hidden Fees
- Same Day Funding
- Flat Rate Structure
- Choose Which Customers to Factor
- Free Credit Checks
Get Paid Faster
Steady funds are necessary to haul more lucrative loads. You won’t have to worry about whether or not you’ll have the cash for fuel and other expenses. Factoring freight invoices works for all types of transportation businesses.
- Freight Brokers
- Auto Haulers
- Dump Truck Services
- Oilfield Transportation
- Hot Shot Trucking
- OTR & Local Carriers
- Intermodal & Containerized Freight
Fuel advances up to 50% are available for trucking companies. Factoring companies will provide between 40% – 50% of the freight bill amount upon pick up of the load.This means you’ll always have money to cover any upfront costs.
When you start working with a freight factoring company, you’ll be eligible to enroll in a free discount fuel card program. Fuel cards offer big discounts on fuel at all major truck stops in the U.S. and Canada.
“I was very pleased to find the information on the Factor Finders website. All of the reviews, as well as the selection of the companies was most helpful to our small company in our search for the right factoring solution. I had initially contacted a company based on personal recommendation, but the rates were unfavorable for us. So, I went to the internet and found Factor Finders. Within a few hours, I had the right fit for us. Thank you.”
— Susan, Trucking, Illinois
Truck Factoring Rates – What Should Carriers Expect?
Factoring rates are calculated based on various factors, including your monthly billing volume and type of program (recourse or non-recourse) and fee structure (flat or variable). When it comes to volume, a company with 8 trucks billing $75,000 per week will likely pay a lower fee than a company with 1 truck billing $3,000 per week. Most factoring companies for trucking build in volume discounts, so your rates should come down as you grow.
Every factor structures their rates differently. We always recommend comparing truck factoring companies to ensure you’re getting a fair deal. In some cases, super-low factoring rates are misleading and often made up for with an assortment of hidden fees. Any fees for additional services should be transparent in your contract and priced fairly.
Truck factoring service fees to avoid include minimum volume fees, early termination fees, and application/setup fees. There are plenty of factoring companies that DO NOT require these.
Is Freight Factoring Right for You?
If you own a trucking business and are tired of waiting for customers and brokers to pay, you’re an excellent candidate for factoring. Even if you’re currently working with a freight factoring company, contact us to get a better deal.
- Bad credit is OK because truck factoring approval relies on your customers’ credit worthiness
- No need to worry about cash flow patterns slowing you down
- Initial funding does not dictate your credit line
- Amount of available cash is unlimited and grows with your business
- Cash is available on the same day
- Fuel advances & fuel card programs are available for trucking companies & freight brokers
Interested in fuel advances? Learn how you can get a cash advance for fuel when factoring loads.
It's Your Cash--We Just Help You Get it Faster
Call us today! 855-322-8671
Find a Factoring Program That Works for YOU
We work with a nationwide network of freight factoring companies with extensive experience in the trucking industry. We pride ourselves in getting to know your business in order to match you with the best freight factor for your needs. If you’re looking for the lowest fees and the most competitive funding programs, then you’ve come to the right place. Contact us today to customize a truck factoring program that works on your terms. Tell us what you’re looking for & we’ll do our best to fit you with the perfect factoring service for your trucking company.
Transport your business to the next level. Even if you’re currently factoring your trucking invoices, let us get you a better deal!