Freight Factoring Services
FactorLoads is the premier freight bill factoring service for trucking companies. We will give you up to 60% of your pay when you pick up the load and we will pay you the rest within minutes of delivery. Now offering military discounts.
In today’s uncertain economy, nothing is more important than getting paid for the work you do. FactorLoads provides reliable, safe and fast payment via freight factoring, giving you peace of mind and timely compensation for your work.
What is freight factoring?
Freight factoring is a means for truckers to be paid immediately for the work they have done whether or not the shipper they are working for pays on time. A freight bill factoring company like FactorLoads purchases trucking industry invoices at a discount and then funds the carriers for the receivables purchased. Many trucking companies rely on freight factoring because even in good economic times they cannot afford for their invoices to go unpaid for 30 to 45 days or more.
Freight Factoring Can Increase Cash Flow
By selling your invoices to FactorLoads, your cash flow worries are lessened significantly. We worry about collecting the funds. You have the cash you need to meet the immediate financial demands of your business, such as payroll and fuel.
Better than a Bank Loan
Freight bill factoring allows you to get cash without creating any debt. While you could secure a bank loan instead of factoring, there are significant and important differences between factoring and bank loans. Obtaining a bank loan to fund your receivables may prohibit you from getting more loans for trucks or other necessary equipment. Or credit problems might prevent you or your company from qualifying for bank loans entirely. With freight factoring, our decision to provide you with money is based on the credit worthiness of the freight customers you use not your credit. Also, with a bank loan your company is on its own; the bank will not help with billing, collections, posting checks, carrier settlements and credit checks on new accounts. At FactorLoads we do all of these activities for you at no extra charge.
Back Office Support
Signing up with FactorLoads gives you the full support of our organization. We handle for you many of the duties you would typically have to perform on your own. For no extra charge, FactorLoads will do your company’s billing, collection calls, posting of incoming checks, carrier settlements and credit checks on new freight factoring accounts.
Financial Relief of Freight Factoring
Carriers who factor their freight bills through FactorLoads often realize an immediate sense of relief. After receiving your paperwork we issue your funds to you. Your work is done. FactorLoads’ back-office support team handles everything else related to the invoice so you can focus your attention on moving more freight and earning more money.