A financial solution tailored for the trucking industry
It allows truckers to receive immediate payment for delivered loads, eliminating the delays of long billing cycles. This ensures a steady cash flow to cover vital expenses like fuel, driver wages, and maintenance.
Four simple steps
1. Deliver a Load: After delivering a load, the trucking company submits the freight invoice to the client.
2. Sell the Invoice: The trucking company sells the freight bill to a factoring company for trucking.
3. Receive the cash: The freight factoring company usually pays you the invoice value, minus a small fee.
4. Client Pays the Factoring Company: The factoring service collects the payment from the customer.
Benefits of Freight Factoring
Consistent Cash Flow: Maintain financial stability with a steady stream of cash to cover operational expenses.
Fuel Advances: Access fuel advances or fuel cards to ease the burden of rising fuel costs.
No Debt Involved: Unlike loans, freight factoring adds no debt, making it perfect for small trucking businesses.
Risk Protection: Non-recourse factoring shields you from customer non-payment, with FactorTek assuming the risk.
Fueling Growth: Instant access to working capital supports expansion by enabling fleet upgrades, driver hiring, or taking on more loads.
