CKT 11 · Freight Factoring
High factoring rate?
Switch to a lower one.
Paying a high factoring rate — or don’t have factoring yet? Contact us: we help you switch to a reliable provider at a lower rate.
Waiting weeks for brokers and shippers to pay can put unnecessary pressure on a trucking business.
Every trucking company has different customers, invoice volumes and payment terms — the provider that works well for one carrier may not be the right fit for another. We learn about your business, understand what you’re looking for and help you navigate the available options.
From comparing options to getting connected with the right provider, we simplify the process and stay involved when support is needed.
What’s included
What we
help with.
Factoring doesn’t have to be complicated.
- 11.1
Provider matching
We help identify factoring providers that may fit your operation — fleet size, freight volume, customer base, invoice structure and overall needs. The goal is not to put every carrier with the same provider.
- 11.2
Compare your options
Providers differ in advance rates, factoring fees, contract structures, recourse options, customer requirements, funding terms, technology and support. We help you understand the differences so you choose with confidence.
- 11.3
Provider connection
Once you’ve selected a solution, we connect your company with the provider. The provider handles the actual factoring relationship; we help coordinate the connection.
- 11.4
Application support
Factoring applications can require detailed business and customer information. We help you understand what may be required and coordinate the application with the provider.
- 11.5
Setup & onboarding
Getting approved is only part of the process. We help keep communication and documentation organized while the provider completes its onboarding.
Factoring
What to consider when
choosing a provider.
These details can vary significantly between providers — which is why choosing the right fit matters.
- 11.6
Advance rate
How much of an eligible invoice can be advanced upfront?
- 11.7
Factoring fee
What fee does the provider charge for factoring the invoice?
- 11.8
Reserve
How is the remaining invoice balance handled after the initial advance?
- 11.9
Recourse
What happens if the customer does not pay an invoice?
- 11.10
Contract terms
What are the agreement’s requirements, minimums and termination conditions?
- 11.11
Customer eligibility
Which brokers and shippers does the provider approve?
- 11.12
Funding speed
How quickly are eligible invoices typically funded?
- 11.13
Technology
How are invoices submitted, tracked and managed?
- 11.14
Customer support
Who do you contact when an issue occurs?
Choose right the first time
Don’t sign the wrong
factoring contract.
Many trucking companies choose the wrong factoring — and once the contract is signed, you are bound by its terms. Send us yours — we compare it with offers from the factoring providers we work with.
- 11.15
Every clause checked
We go through every point of the contract before you sign — fees, reserve, recourse, minimums and termination.
- 11.16
A lower rate, negotiated
We negotiate for a lower rate with a reliable factoring provider.
- 11.17
Lower-rate yearly contracts
Yearly contracts at a lower rate are available through the providers we work with.
- 11.18
Truck & trailer financing
A good payment history with your factoring provider can help you qualify for truck and trailer financing.
- 11.19
Rate too high? Switch.
Already factoring at a high rate? We help you look for a lower one.
- 11.20
No factoring yet?
Contact us — we set you up with the right provider from the start.
Already factoring?
When you already have
a factoring provider.
You don’t have to start from zero. If you’re having problems or considering other options, we can help you evaluate the situation.
- 11.21
Issues with your provider?
We help you understand the issue and coordinate communication when appropriate.
- 11.22
Considering a different provider?
We can help you review other available options.
- 11.23
Not sure about your terms?
We help you understand the key factors to review when comparing factoring arrangements.
- 11.24
Want to switch?
We help you evaluate another provider before making a change.
Ongoing support
Factoring support
when you need it.
Our involvement doesn’t end after the introduction. We help connect the right people and keep the process moving.
- 11.25
Invoice questions
Need clarification about an invoice or its status?
- 11.26
Funding questions
Need to understand where an eligible invoice stands in the process?
- 11.27
Documentation issues
Missing or incorrect documentation causing a delay?
- 11.28
Provider communication
Need help communicating with your factoring provider?
- 11.29
Account questions
Need clarification about your factoring relationship or process?
Factoring
Built around your
trucking business.
Owner-operators
Find a factoring option that fits the needs of a single-truck operation.
Small fleets
Compare solutions that support multiple trucks, drivers and growing invoice volume.
Growing carriers
Find a factoring relationship that can keep up with increasing freight and receivables.
Established fleets
Explore providers based on larger invoice volumes, customer mix and operational requirements.
How the factoring
process works.
STEP 1
Tell us what you need
We learn about your company and what you want from a factoring solution.
STEP 2
Review options
We look at providers and programs that may fit your business.
STEP 3
Compare
Rates, fees, terms and requirements — side by side.
STEP 4
Get connected
You choose; we connect you directly with the provider.
STEP 5
Complete the setup
The provider handles application, approval and account setup; we help coordinate.
STEP 6
Ongoing support
If questions or issues arise, we help coordinate with the provider.
Pricing
How factoring pricing
works.
The factoring provider sets the rate. We compare the offers and check the contract with you before you sign.
What sets the rate
The provider sets the advance rate, factoring fee and reserve. They differ by provider and program, which is why we compare them.
Offers side by side
You see the rates, fees, terms and requirements of each option side by side before you choose.
The contract, read with you
We go through fees, reserve, recourse, minimums and termination with you before you sign.
Funding by the provider
The provider funds your eligible invoices and collects from your customers under its agreement with your company.
Approval, rates and terms are decided by the provider, based on its own requirements.
Factoring
Frequently asked
questions.
What is freight factoring?
A financial service that lets trucking companies work with a factoring provider to access funds against eligible freight invoices before their customers pay under normal payment terms. The exact advance rate, fees, reserve structure and eligibility depend on the provider and agreement.
Do you provide factoring directly?
No. We work as an intermediary and help trucking companies connect with factoring providers. The selected provider handles the actual factoring service and financial agreement.
How do you choose a factoring provider?
We look at your business needs and compare available options based on invoice volume, customer base, rates, fees, terms and other requirements.
Can you help me compare factoring providers?
Yes. We help you understand the key differences between available options so you can make a more informed decision.
Do you guarantee approval?
No. Approval is determined by the selected factoring provider based on its own eligibility requirements, underwriting and documentation.
Can you help with the application?
We can help coordinate the application and explain what information or documentation the provider may require. The provider makes the final decision.
Can I use your service if I already have a factoring company?
Yes. If you’re considering another provider or having issues with your current arrangement, we can help you evaluate alternatives.
Who funds and collects my invoices?
The selected factoring provider funds invoices and handles collection under its agreement with your company.
Find your factoring fit.
Tell us about your trucking operation and what you’re looking for. We’ll help you understand your options and connect you with a provider that may fit your business.
Thank you — we got it.
Our team will contact you ASAP.
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