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Freight Bill Factoring For Trucking Companies

With the average wait of 30 to 60 days to receive payment on a freight bill it can cause financial strain on trucking companies. Meeting payroll obligations, making repairs to ensure that trucks are safe to drive and fueling these trucks can be a huge financial burden. With Freight bill factoring, trucking companies do not need to wait the traditional 30 to 60 days. Selling their freight bill, accounts receivables, to a factoring company can get the company cash in just days rather than waiting until the customer pays. Freight bill factoring is cost effective for trucking companies as well, with rates of 1 to 4% for the first 30 days. Factoring companies on average can get money to the trucking business within 24 hours, fast cash!

What is Freight Bill Factoring?

Freight bill factoring is the sales of the trucking companies accounts receivables to the factoring company. On average factoring companies will give up to 70 to 85% of the freight bill. When the bill is paid in full by the customer the factoring company gives the remain balance, minus a factoring fee, back to the trucking company. Factoring companies will charge 1 to 4% for the first 30 days and 1% for every 10 days there after until the payment is received. Processing often only takes 24 hours but can take up to 3 days for some.

Freight Bill Factoring Advantages

  • Fast approval processing, usually within 24 hours
  • 70 to 85% of freight bill in advance
  • Low rates, 1 to 4% for 30 days
  • No wait!
  • Fast Cash!

Terms and Conditions

Freight bill factoring companies often do a monthly contract with the trucking company. When the company has accounts that they want fast cash from they submit the information to the factoring company, it is processed within 24 hours. Typically the fee is 1 to 4% of the freight bill total for the first 30 days and then an additional 1% every 10 days there after. When using a freight company it is important to look for any hidden fees. Many freight bill factoring companies require 3 months notice for termination of their services to avoid any unwanted fees.

How to use Freight Bill Factoring
  • Find a Factoring company that offers Freight Bill Factoring services
  • Submit your businesses information as well as your accounts receivables
  • Approval can happen within 24 hours, but can take up to 3 days.
  • Negotiate the terms and conditions of the contract, if possible.
  • Sign the contract and submit your businesses bank account information for direct deposit of the funds.
When You Are Ready, We Are Here

Factoring.net is ready when you are. If you’re running low on working capital or just need some extra funds, Factoring is a great way to leverage your already existing assets – your receivables. Fill out the short application now or give us a call.

  • Factoring is not a Loan, it's a sale of YOUR receivables!
  • Our rates are the lowest in the industry, starting at 1.5 %.
  • We offer a non-recourse factgoring. Sleep soundly at night!
  • We fund approved deals within 48 hours.
First time factoring?Learn about Factoring

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Answer these basic questions about your business and start the application right now. The whole process takes less than 5 minutes.

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Don't take our word for it

Everyone was very helpful to our company throughout the process. We really needed to get cash for invoices immediately, and Kris along with the rest of his team delivered.

- Kristin Wintum Charles Town, WV testimonial
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