Freight Factoring
Do clients take up to 60 days to pay their freight bills? This puts carriers and freight brokers in a position where they must juggle between fuel, repair and driver payments. Many times, unpredictable cash flow can also prevent the company from capitalizing on new growth opportunities.
The solution is to factor freight bills. Freight bill factoring can provide you with a quick pay on all your qualifying accounts. Your company gets the resources to pay for drivers fuel and repairs, while gaining financial stability to grow.
Rates as low as 1.5% (based on volume). Get and instant online factoring quote by click here or calling 877-300 3258 (toll free in Canada)
Freight factoring benefits
Factoring your freight bills has a number of advantages. Some of them are:
- Predictable cash flow. Quick payment on your freight bills.
- Money to pay drivers, repairs and other expenses
- Flexible financing that grows with your company
- Quick approvals
- Easy use and set up
- Additional services such as fuel cards
How does it work?
Putting freight bill factoring to use is fairly simple and does not require a lot of work. Here is how it works:
- You deliver the load
- The freight bill is sent to the customer (or broker)
- Your company gets an advance of up to 90% (or more)
- The customer pays the freight bill
- You get the remaining 10%, less the service fee
Freight bill factoring costs
The cost of freight factoring varies based on the volume that you do and the financial stability of your clients. The cost can range between 1.5% and 4% per month. You can get a better idea of cost by using our online quote system.
Want an instant online quote?
Rates as low as 1.5% (based on volume). Get and instant online factoring quote by click here or calling 877-300 3258 (toll free in Canada)
Additional resources
If you would like to learn more about freight factoring, please visit our transportation factoring resource center. Additionally, you can also review the following articles:
