Factoring Basics

Factoring is simple: It’s "quickpay". Rather than send your invoices to your brokers and shippers who may take 30, 60 or even 90 days to pay, we buy your invoices from you for a nominal fee and you get paid within 24 hours. We then forward those invoices to your customer and we do the waiting, so you don’t have to! Best of all, it allows you to accept higher-paying loads from brokers and shippers whom you might not normally load for because their payment terms are too long.

Most truckers can’t afford to wait 30 to 60 days to be paid. They need strong cash flow to meet immediate financial demands such as payroll each Friday, insurance, fuel, tags, driver advances, etc. Factoring provides this cash quickly, and is very affordable (typically just a few cents per dollar). As an added benefit, your customers will appreciate the better credit terms you give them by allowing them to pay the factor later than they may have paid you, making it a win-win for both you, and your customers.

Freight Capital works with any size carrier - - from one truck owner-operators to larger truck fleets. We provide rates and programs customized to fit your needs. Our trucking experience helps us understand that your cash flow will vary depending on the market and the size of your business. With this information we help you set up a program that makes sense for you and ultimately helps you become more successful.

There is some basic information that we need but we’ve made that easy too, with an Express Sign Up on this website that requires little documentation. We will begin setting up your account immediately. Typically, we can email your agreement and have you signed up in less than an hour. By using the Express Sign Up, you could be paid as quickly as tomorrow! As an initial convenience to you, we will accept invoices you’ve already billed out to your customers, so long as you can provide copies of the paperwork (BOL, Rate Confirmation, Invoice).

NO! There are no volume or minimum requirements. Unlike other factoring companies, Freight Capital does not increase your rate if you do not meet minimums. Be careful of this. Many factors will tease you with what appears to be a low rate and then subsequently raise that rate when you fail to meet minimum volumes. At Freight Capital, we offer you a low, flat, fixed rate that will never increase, regardless of volume!

Never! At Freight Capital, you decide which customers you’d like to factor. Add new brokers or shippers as you please and as your customer base grows. We work with each of your customers in a professional and courteous manner and want to make this process as simple as possible. Your customers will appreciate Freight Capital’s extended credit terms since many good-paying shippers and brokers do not offer a quick-pay solution.

Within 24 hours of receiving your application, we will send you a rate proposal. If it is accepted by you, we conduct due diligence and may request some documentation. Initial funding can be the next day. The faster we receive all the documents we need and have the necessary signed documents returned, the faster we get you funded.

We provide all our clients with a FREE 24-hour Credit Check service that is available via our client website. Most companies are already in our database, however an occasional broker or shipper may not be listed. If this is the case, call us at 800.720.4918 ext 8003 if you have questions about a debtor before you haul a load.

Freight Capital is one of the few factoring companies that offer a Non-Recourse Credit Guarantee so you will not suffer any loss if your customer goes bankrupt and cannot pay you. Freight Capital will take the credit risk of non-payment for you, so you don’t have to!

Typically it’s just a few cents of each dollar. Freight Capital will outline a couple of options and you pick what works best for you and your company! We are here to help you along the way and it’s important to us that you have all your questions answered and options to choose from. We pride ourselves on offering the lowest rates in the industry. If you come across rates lower than ours, we will be happy to match any competitor’s price!

All factoring companies are NOT the same. We are the #1 factoring company so we have the financial strength and programs to weather any economic crisis while serving our Clients. We have the BEST fuel program that saves carriers thousands of dollars every month. Recently, Freight Capital was chosen by the ATA as Vendor of the Year and their exclusive factoring partner for the Carrier Savings Program because of our ethical, practical and fair financial programs. You can count on us for cash flow assistance, but also for the exceptional personal service we give to each Client, whether large or small, because we want you to succeed and grow.