Factoring Companies For New Freight Brokers - As a freight broker, you do a lot to help shippers place their cargo with reliable carriers at a reasonable cost.
Waiting to receive payments from customers can slow down your operations, making it difficult to pay carriers and preventing you from accepting new loads.
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Freight broker factoring services allow you to finance new jobs without taking out a high-interest business loan. Upload open freight invoices and get your money instantly!
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Instead of waiting up to 90 days for payment, freight brokers use factoring to pay carriers and cover their business expenses immediately. Freight factoring is a process where a factor buys your outstanding freight bills and pays you up to 98% in cash within 24 hours. A factoring company collects payments from your customers as you go about your business as usual. This hassle-free process is simple and gives you quick cash to run a successful business.
We want to give you what the banks don't. Factoring companies offer freight brokers several advantages that cannot be achieved with traditional financing:
Unlike a traditional loan, auto factoring is flexible and adapts to the development of your company. Freight factoring does not include a static dollar amount and is based on freight invoices submitted. The more your business grows, the more money you get.
We care about convenience, just like your operators. Freight broker factoring companies pay cash advances within 24 hours of receiving the freight bill, allowing you to pay your carriers faster. Take advantage of this advantage by talking to them about a lower price for fast service.
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Load a portion of your prepayment directly onto fuel cards that your carriers can use to fill up at thousands of gas stations across the country. Fuel card programs offer additional discounts and rebates at all major gas stations nationwide, saving you even more money.
Factoring for freight brokers is even faster with electronic submissions. Don't waste time or money sending freight bills overnight - email or fax a legible copy for fast funding!
Our factoring services for freight brokers are ideal for novice brokers as we do not require a minimum factoring amount.
Forget the stress of taking on new clients, factoring companies offer free credit checks to all clients to eliminate the risk of non-payment.
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Track your account status anytime, anywhere with 24/7 online reporting. Your unique login gives you access to detailed information about your latest transactions, debt collection status and other important information.
We are here to help you every step of the way. Your factoring company offers free credit checking and collection services so you can continue to build your customer base and place new loads.
Recourse factoring allows the freight forwarder to take responsibility for unpaid invoices. Recourse factoring is great for large freight brokers who have enough capital to cover risky clients because the interest rates are lower than non-recourse factoring.
Non-recourse factoring assumes that the financing company is responsible for all outstanding invoices. Freight brokers are not responsible if their shipper does not pay. Non-recourse factoring is perfect for start-ups and smaller freight brokers who don't have enough capital to cover risky clients.
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Think about what you could do with more money. The freedom of cash flow offered by commodity broker factoring is unlimited. Use the funds you receive for any aspect of your business - attract new carriers, start shipping in multiple ways, invest the way you want. Additionally, use freight factoring to cover $75,000 per year in federal bonds for freight brokers.
Easy Freight Factoring works with a network of factoring companies that are experts in carrier/shipper relationships. Take advantage of the lowest prices in the industry and expert service tailored to the unique needs of your business.
To get started, complete a short online application and include a valid business application and MC registration information. You can even start factoring now by uploading your current freight invoices!
Click for a free quote or speak to a factoring specialist for financing
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We have software that helps managers upload photos of the show sheet and links to the show sheets.
As long as your company can send invoices to customers with good credit, we can help your shipping company.
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