FActorloads Canadian
Freight Factoring
Freight factoring is a service that allows a trucking company’s outstanding invoices to be paid almost immediately. At FactorLoads, we can provide invoice factoring solutions for your trucking company to keep your business in motion.
Freight Factoring
Services in Canada
Running a trucking business is hard enough when you have a large operation that includes steady and dependable cash flow. When you’re a small- to mid-size trucking company, it’s that much harder to establish regular cash flow and to remain competitive with larger providers. One of the most challenging aspects is billing and invoicing. Without timely, prompt billing and invoicing, payments come in at an unpredictable and volatile rate — making it hard to manage the financial side of the business.
The Importance of Factoring for Canadian Truck Drivers
The trucking industry relies on paid invoices to drive revenue and company growth — especially small businesses. Factoring allows your company to get paid for your deliveries or services and pay your truck drivers accordingly. Specifically, freight factoring:
- Improves cash flow: Factoring turns accounts receivable into immediate cash, helping trucking companies maintain the steady operations needed in the transportation industry.
- Encourages financial stability: With a higher cash flow and financial stability, your company can focus on keeping your trucks up-to-date, expanding your fleet or covering the next load.
- Reduces accounting workload: By going through another company, your accounting team can focus on more critical aspects of your financials instead of invoicing or making follow-up calls.
Why Choose
Load Factoring?
What does it mean to choose freight factoring services in Canada? When you choose to work with FactorLoads, you gain access to a range of benefits, including:
Access to full freight factoring services 24 hours a day, seven days a week
Spot factoring services that allow you to choose in real-time whether to factor a load or bill it yourself
Paid advances of between 40 and 60 percent the moment you pick up a load
Both non-recourse and recourse programs
Flat rates and zero reserves
Free and unlimited credit checks around the clock
Access to a database where you can see which customers are pre-approved
A free Load Board account to get started
The ability to design a custom factoring program that meets your company’s unique needs
That last point is incredibly important. Many freight broker factoring companies offer an off-the-shelf solution to all customers. At FactorLoads, we take a different approach by taking the time to understand your unique needs and then creating a freight factoring program to meet them. Make sure your trucking business gets the services it needs when you choose load factoring and spot factoring from FactorLoads.
True and Dependable
Spot Factoring 24/7
What exactly is spot factoring? Some freight factoring services in Canada force you to go all-in or all-out. That is, you either factor all of your invoices or none of them. At FactorLoads, we provide spot factoring services that allow you to choose on an invoice-by-invoice basis what gets factored and what does not.
This is essential to helping our clients and their businesses thrive. With spot factoring, you can choose to factor or not based on your cash flow and financial situation at any given moment. In short, this is a responsive approach to factoring that puts the power into your hands and allows you to make sound financial decisions for your business.
Many of our customers choose spot factoring when they have one large order or when they need short-term flexibility. No matter your situation and needs, spot factoring can be a helpful tool that takes the financial pressure out of your day-to-day operations.
The Process of
freight factoring in canada
Freight factoring makes it easy for your trucking company to get paid for your services without handling the details. Here’s a closer look at the simple process:
- Complete the delivery as you usually would.
- Submit the unpaid invoice to us as your factoring company.
- We pay an advance on the invoices.
- We handle your client’s payment collection.
- We directly pay you the remaining balance with subtracted fees once the customer pays the invoice.
Choosing Factorloads for
Canadian Freight Factoring Solutions
FactorLoads is a trusted partner to your trucking company team. Our spot factoring services are available 24/7, allowing you to decide which invoices we factor. This way, you can control your cash flow and financial situation, making the most informed decisions for your company.
We are passionate about our honest approach to load factoring. The FactorLoads team understands that freight factoring rates in Canada are high, which is why we offer reasonable prices without hidden fees and without locking you into a contract. We’re upfront about our terms, so you can use us when and how you need us.
Contact FactorLoads for
Invoice Factoring in Canada
FactorLoads serves trucking companies across Canada. Together, we can design a custom factoring program to meet your company’s needs. To learn more about our freight factoring services, contact FactorLoads online or call 1-866-218-0030 today.