An Easy Guide to our Freight Bill Factoring Program

FactorLoads is an innovator in the world of freight bill factoring. We have changed all the rules and provide you with a service that allows you to become and remain financially independent. Here is how it works.

1. Find a load you want to factor. We aren’t concerned with where you find loads, only that the customer meets our credit standards. However we would like to suggest that you try a free account on the TruckBuzz load board.

2. Check the customer’s credit status. You can login to our system and search our customer database. Our database contains thousands of customers; if your customer isn’t listed we will run credit on them for free.

3. Fill out the Factoring Application. After finding your approved customer in the database you can click on their name and you will be brought directly to the Factoring Application. Then just fill out the basic information regarding the load.

4. Send us the original freight bills for the load as well as your rate confirmation and all other paperwork. Consider using our Fedex Discount Program.

That is it. Simple. You don’t need to create invoices, we will do that for you. The day we receive your freight bills we will process your paperwork and load the money on your Comdata card. You can then use your card to purchase fuel at a discount.

Any trucking company can get approved. We only require some basic documentation to verify you are who you say you are. You can be setup in less than an hour!

Factor on a customer-by-customer, load-by-load basis. Unlike traditional freight bill factoring companies, we don’t force you to send us all your freight bills, we allow you to choose which customers you want to factor and which you want to invoice on your own. To give you an extra level of control we even allow you to factor on a load-by-load basis. You can choose to factor a freight bill for a customer and then have us bill the rest of that customer’s freight bills for you. For more information reference our billing option

We don’t demand you send us any minimum dollar volume per month. This is great for small trucking companies who don’t produce much volume and for all trucking companies who only want to factor when they need money in a crunch. We want you to use us only when you need us.

Our freight bill factoring company is non-recourse. This means that if the customer goes bankrupt you will not be charged back for the money owed. We will protect you from bad debt, not pass it on to you. Since we are non-recourse there is no holdback or reserve account for us to take monies out of should a company go bankrupt, therefore you will receive all of your money upfront the same day we receive your freight bills.

No long term contracts. Unlike other freight bill factoring companies we don’t lock you into 6 or 12-month contracts. Use us for only as long as you need us whenever you need us.