At Trucker Credit, we understand the Trucking business. We have helped thousands of trucking companies over the years. Our success comes from the fact that we understand that every trucking company has different needs and we customize those needs accordingly through our Trucking Factoring programs.
Trucker Credit's Trucking Factoring programs offer some of the highest advances and lowest Freight Factoring Rates in the industry. However, there is much more to a successful Trucking Factoring relationship then high advances and low rates. All of our Freight Factoring programs are complemented by our best in class services including Risk Assessment, AR Management, Billing, Collection, Treasury, and 24/7 web reporting.
Trucking Factoring process
Trucking Factoring is a financial transaction whereby a business sells its accounts receivable (invoices) to a Trucking Factoring Company at a discount in exchange for immediate cash.
Trucking Factoring is different from a bank loan in two significant ways. First, the Trucking Factoring Company places the emphasis on the value of the receivables, not necessarily the firm's credit worthiness or fixed assets. Second, factoring is not a loan - it is the purchase of a financial asset (the receivable). The receivable is a financial asset associated with the debtor's liability to pay money owed to the seller for work performed or goods sold. The seller sells its invoices (the receivables) at a discount to the Trucking Factoring to obtain the cash needed for day-to-day operations.
The sale of the receivables (or invoice) transfers ownership of the receivables to the Trucking Factoring. The account debtor is then notified of the sale and then remits payment directly to the Trucking Factoring Lockbox
.There are three integral parts to a factoring transaction.
1. The Fee - This is the amount Trucking Factoring will charge you for the service. Most Trucking Factoring will charge you a Factoring Fee also known as a service charge as well as interest based on how long it takes the debtor to pay.
2. The Advance - This is the percentage of the Face value of the invoice you will be paid upon submission of that invoice.
3. The Reserve - This is the remainder of the total invoice amount held until the payment by the account debtor is made in full.
There are many different ways Trucking Factoring companies refer to this service including, Truck Factoring, Freight Bill Factoring, Trucking Factoring, and Freight Invoice Factoring.
At Trucker Credit, we provide our Trucking Factoring service to a wide variety of small to mid-sized companies. We have earned a reputation for providing world-class service to companies who need Factoring lines for their businesses. When searching for Trucking Factoring, look no further than Trucker Credit
Banks often call their factoring programs Factoring Loans. Don't be confused with this statement because factoring your accounts receivables is not a loan. Factoring is simply the sale of your Invoice at a discount to a Freight Factoring Company.
Are you interested in learning more about Trucking Factoring?
Want to learn more about Trucking Factoring Trucker Credit? Call 1-913-738-4565 or Click here
Trucker Credit provides Factoring services to every type of trucking company including:
| Factoring for Beverage Haulers | Factoring for General Freight Carriers |
| Factoring for Building Materials | Factoring for Heavy Haulers |
| Factoring for Cargo Tank Carriers | Factoring for Heavy Machinery Haulers |
| Factoring for Chemicals Haulers | Factoring for Hot Shot |
| Factoring for Coal Coke | Factoring for Inter modal - Dry age |
| Factoring for Cold Food Carriers | Factoring for Liquid Gas Carriers |
| Factoring for Concrete - Pumping and Delivery | Factoring for Livestock Haulers |
| Factoring for Construction Hauling | Factoring for Local Carriers |
| Factoring for Contract Hauling | Factoring for Log Pole |
| Factoring for Dispatch Services | Factoring for Lowboy |
| Factoring for Drop Deck Fleets | Factoring for Meat Carriers |
| Factoring for Dry Bulk Carriers | Factoring for Metal Sheet Haulers |
| Factoring for Dump - | Factoring for Mobile Home Haulers |
| Factoring for Farm Supply Carriers | Factoring for Oilfield Services Fleets |
| Factoring for Federal & State Contracts | Factoring for Paper Products Carriers |
| Factoring for Flatbed Carriers | Factoring for Produce Carriers |
| Factoring for Freight Agents | Factoring for Refrigerated Haulers |
| Factoring for Freight Brokers | Factoring for Utility Fleets |
| Factoring for Freight Forwarders | Factoring for Van Fleets |
| Factoring for Grain Feed Haulers | Factoring for Water Well Fleets |
Want to learn more? Please Call 913-738-4565
FAX Number: 949-242-2186
