Expand your operating capital
Our process is simple, our people are friendly and professional, and our goal is the same as yours: financial stability for your business.
The factoring industry has been helping freight carriers for thousands of years, and our goal is to continue this tradition by making it as simple and straightforward a process as we can. Here’s how we factor your bills:
Once you’ve finished moving a load for a customer, you’ll generate an invoice — just like you do now. Instead of sending it for payment to your customer, though, you’ll send it to us. Once we receive your invoice, we’ll process it, send you payment for it, and forward it on to your customer, along with a notice indicating that payment for the invoice should be made out to us instead of your company. As the invoice ages out, we’ll continue to monitor it, and if anything additional is required for your customer to process payment for it, our collections department will take care of it. Once your customer processes payment and we receive it, we’ll let you know that it’s been paid in full.
The fee we charge is generally around 2-3% of the face value of your invoice, and we typically advance about 90% of it on the day of purchase (the remaining portion is held in reserve until we receive payment). But these numbers vary based on the specifics of your business and the credit profile of your customers. We know how tight margins are, though, so we’ll work with you to try to find a price that works for both us.
Contact us today to learn more how our factoring can help your business. Feel free to read more about how our business operates by visiting pages at our main website for Transportation Funding Group–that’s our truck factoring business, and our original business–and learn what makes us different and what our clients say about us.