Factoring for Owner Operators

Factoring Services for Owner Operators

If you can’t afford to wait 30, 45, or even 60 days to be paid, truck factoring is the answer to your cash flow problemsFreight factoring isn’t a loan; it’s a fast and reliable way to get paid sooner for the loads you’ve already delivered.

Motor carriers have a lot of upfront costs to cover. Steady cash flow is critical to keeping trucks on the road. That’s why factoring helps owner-operators like you address costs such as fuel, payroll, insurance, tolls, and maintenance without worrying about cash being tied up in outstanding freight bills.

Benefits of Factoring for Carriers

The advantages of truck factoring for owner-operators are more than just getting your cash faster. By choosing the right truck factoring company for your business you have benefits such as:

  • Same day funding on copies
  • No startup fees
  • Easy funding approval
  • Choose which brokers & shippers to factor
  • Fuel cards
  • Same day funding on copies
  • Amount of available funding grows with your trucking company
  • Flat fee programs
  • High advance rates up to 100%
  • Free credit checks so you can haul loads with confidence
  • No long term factoring contracts
  • Recourse & non-recourse truck factoring options

Flexible Truck Factoring on Your Terms

We provide factoring services for owner-operators who need to maintain positive cash flow but don’t want the stress of dealing with minimum volume requirements. Start-up trucking companies are welcome. Even if you don’t have your MC number yet and haven‘t hauled a single load, you can benefit from truck factoring.

Small trucking companies can start factoring with no minimum volume requirements, month-to-month contracts, and the freedom to choose which customers to factor. There are lots of factoring companies for truckers, so isn’t it time to find a truck factor that works on your terms?

Flat Fee Factoring for Extra Peace of Mind

Truck factoring fees for owner-operators can range from 1%-5% depending on the program. Most factoring fees are determined by volume — the more freight bills you factor, the less you’ll pay in fees. These fees can be flat or variable, but flat is becoming more popular.

Flat fee factoring provides the highest upfront payment and makes it easy to keep track of your budget. Since no money is held in reserve, owner-operators receive a full advance on all freight bills factored. Flat fee programs are available for both recourse and non-recourse factoring terms.  Learn about recourse vs. non-recourse factoring here.

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Fuel Cards

Owner-operators and trucking companies can save big on fuel costs with free fuel card programs. Fuel cards can be used at nearly all major truck stops in the US and Canada.

Fuel Advances

When your tank is empty, count on fuel advances to get you back on the road. Advances up to 50% are available upon pickup!

Discover How Factoring Can Grow Your Trucking Business

Factoring for owner-operators is easy! Here’s how it works:

  1. The truck driver delivers the load.
  2. Truck driver submits the freight bill to the factoring company & receives the money within 24 hours. Factoring advances can be funded by wire, ACH, or applied directly to a fuel card.
  3. The factoring company collects payment from freight brokers or shippers.

Because there aren’t setup fees and the application process easy and fast, you’ll be able to factor freight bills within just a few short days.

After you’ve been approved, your trucking company can take advantage of same-day funding on copies, fuel advances, and free fuel cards that offer big discounts at the pump. Not to mention free credit checks, so you can haul with confidence knowing that you’ll always get paid. If you need cash and need it fast, contact us to find the perfect truck factoring company for your business.

Fast Cash to Grow Your Trucking Business

We’ll help you find a factoring program that works for you! Contact us to get started.

Why Choose Truck Invoice Factoring?

Truckers choose factoring is because it’s one of the most flexible financing methods available. Since it’s not a loan, no debt is added to your business.

Factoring approval is quick and easy compared to traditional bank financing. A loan won’t offer the flexibility and 24-hour funding that’s available with freight factoring. Did we mention that it’s easy to be approved? Truck factoring approval is based on the credit strength of your customers. If you don’t have great credit, you can still qualify.

We’re dedicated to finding you the perfect freight factoring program to grow your trucking business. We work with a large number of truck factoring companies in the US and Canada; and, we have the ability to find what you’re looking for with fees at industry-lows. The truck factoring services we provide are 100% free to you.

Factoring for freight brokers is also available.

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