Transportation Funding Group helps a wide variety of trucking companies. We work with truckers who operate from one truck up to 100 trucks, and more. Our carriers move dry freight, flat-bed freight, refrigerated freight, hopper bottoms, side-dumps and bellies, and specialized freight. Tankers and pneumatics are eligible too. Our carriers move complete loads (truckload) and partials (LTL) anywhere in the U.S. and Canada.
Fees (One Time Discounts)
Transportation Funding Group charges you a one-time discount which is deducted when we buy your freight bills. Our rates are very competitive. Some factoring companies have complex pricing that can be difficult to understand or calculate. Our one-time fee is deducted from your settlement when we purchase your freight bill. There are no additional fees based on collection time. It doesn’t matter if the bill is paid at 30, 40, or 50 days. You never pay more than the one-time discount fee. We believe that might become a motivation to let your bills age a little longer. Our pricing does not motivate us to let the bills age—in fact, the sooner we get the bill collected, the better for everyone.
Advance Rate describes how much of the face value of each freight bill you are paid by TFG when you submit your billing to us. Transportation Funding Group bases your advance rate upon several variables, but generally you can expect an advance rate of between 80% and 90% of the bills purchased. We will need to discuss your volume, financial background, and customer base (and a few other things) before we know the specific advance rate you can expect from us. Call us today, and we can discuss the specific rates TFG will provide to your company.
Long-term contracts are common in the factoring industry. Many factoring companies require a 12 – or 24-month contract. Many long-term factoring contracts will automatically renew. Many long-term factoring contracts have termination penalties and fees if you want to switch to a new factoring company. Transportation Funding Group is different.
With TFG, you won’t have a long-term contract. All our contracts are month-to-month, and because you choose which accounts to factor with us, if you aren’t completely happy with your experience at TFG, you can quit tomorrow. And if you do choose to stop factoring with us, we won’t charge you early termination fees or penalties. That’s how we do business. If we do a good job for you, you will be happy and continue to use our services. We have carriers that have been with us since 1996. This is evidence that we provide excellent customer service and forge strong relationships with our carriers.
Our average carrier has been with TFG for 68 months.
No minimums means: no minimums! You don’t have to hit a certain volume in order to qualify for the rate you are offered. You won’t be charged additional fees if your volume dips this month. We believe in keeping things simple—our carriers appreciate this.
No Application Fees
When you sign up with Transportation Funding Group you won’t be charged any upfront fees. We don’t charge you an application fee in order to do business with us. Your application can be approved in a day and we can typically be ready to fund in three or four days. No surprises!