Do your shippers and customers take up to 60 days to pay freight bills? Working with shippers or brokers who pay slowly can create cash flow problems. In turn, this delay affects your ability to run your business and pay for fuel, repairs, or drivers.
You can solve this problem with freight bill factoring. This solution provides you with financing for your slow-paying freight bills. You get immediate funds to pay your expenses and grow.
We can finance your company quickly. We offer low rates, high advances, and fuel cards. For an instant quote, fill out this form. To speak to an expert, call us toll-free at (877) 300 3258.
Working with a freight factoring company has a number of advantages. The most important advantage is that you get quick payments for your freight bills, which gives you predictable cash flow. Other benefits include:
- Money to pay drivers, repairs, and other expenses
- Flexible financing that grows with your company
- Quick approvals
- Easy use and set up
- Additional services such as fuel cards
How does freight bill factoring work?
Our program is fairly simple. Most transactions proceed like this:
- You deliver the load.
- You send the freight bill to the customer or broker.
- Your company gets an advance of up to 90% (this amount varies).
- The customer pays the freight bill.
- You get the remaining 10%, less the service fee.
You can find additional information by reading “What is Freight Bill Factoring?”
The cost of the program varies based on the volume of your transactions and the credit quality of your shippers and brokers. The cost ranges between 1.5% and 4% per month.
We offer low rates, high advances, and fuel cards. For an instant quote, fill out this form. To speak to an expert, call us toll-free at (877) 300 3258.
We offer high advances to carriers and owner-operators. Our advances for carriers average from 90% – 95% based on their size, needs, and overall risk.
Works with fuel cards
The freight bill factoring program works with fuel cards. Your factoring advances can be loaded directly on to the fuel cards. This feature gives you greater control over your expenses and how you use your funds.
We finance freight brokers as well
Our program can also be used to finance freight brokers. Freight bill factoring provides brokers with funds and allows them to pay carriers and other expenses.
Learn more about our programs
We are a leading freight bill factoring company in Canada and would like the opportunity to earn your business. We have a comprehensive resource centre and blog where you can learn about our services. Popular articles include:
- How to Grow a New Trucking Company
- How to Use a Load Board to Grow Your Trucking Business
- Factoring for Small Transportation Carriers
- What to do if Your Shippers Don’t Offer Quick-Pays
- Owner-Operator Financing Alternatives
As a leading factoring company, we offer services in provinces across Canada. For specific information, please visit: