Factoring for Trucking Companies Every Day!
Does your trucking business need working capital now?
Factoring for Trucking Companies
Capital for Business offers freight factoring services that specialize in transportation and trucking industries.
Invoice factoring is the best way for trucking companies to get immediate payment for the work they provide. Even when the shipper decides to wait three months or longer to pay an invoice, the trucking company does not suffer during the waiting period. Instead, they come to Capital for Business to take advantage of our funding services. Their success relies on freight factoring to avoid delays in receiving the necessary cash to maintain fleets and pay for fuel.
What is Factoring
Factoring has many identities and is commonly referred to as accounts receivable factoring, invoice factoring, and sometimes accounts receivable financing. In a nutshell, invoice factoring is a way for businesses to fund cash flow by selling their invoices to a third party (a factor, or factoring company) at a discount.
We Offer Low Factoring Rates for Trucking at 0.69% – 4.9%
Rates for Large Fleets starting at Prime Rate +2% & Admin Fee
- We Make Same Day Decisions
- Set Up In 3 Days
- No Financials Needed
- Generous credit lines up to $2.5 million
Services Include:
- Free Online Credit Checks
- Fuel Discounts
- Accept images for funding
- No Originals Needed
- Fuel Advances Available
- Same day funding
Trucking Factoring Company
- Reefer Freight
- Oilfield Services
- Heavy Haul
- Long Haul
- Couriers
- Freight Brokers
- Intermodal
- Auto Transporters
Small Fleets (No Monthly Minimum)
- Truck Companies 4.9% Flat Rate
- Full Advance for Small Fleets
- Start-Process! No Up-Front Fee to Set Up
- No need to over-night mail
- Free credit checks online
- No monthly minimums
- Set up in 3 days
- Same Day Funding
Mid to Large Fleets (10k Monthly Minimum)
- Trucks to Large Fleets 0.69% – 1.59% Rate
- Custom Rates Available for Large Fleets
- Start-Process! No Up-Front Fee to Set Up
- No need to over-night mail
- Free credit checks online
- Set up in 3 days
- Same Day Funding
- No Financials needed up to 350k
Fast Access to Your Cash Factoring
- Factoring is a quick and easy process that can put cash in your hand within 24-48 hours
- Banks can take weeks or months to make business loan decisions
- Improve Cash Flow Without Incurring Debt You never worry about adding liabilities to your balance sheet
- Invoice factoring is not a loan and you never have to make monthly loan payments along with payroll and other operational expenses
Freight Factoring is Simple:
- Instant Cash Flow for your Trucking company.
- Haul more loads by granting credit terms to new customers.
- No need to borrow money for fuel, payroll, permits, or other expenses.
- Same day funding on credit approved shippers or brokers
- We Make Same-Day Decisions!
- We accept 1 Truck operator, credit lines up to $2.5 million for larger fleets.
- Large Fleet Revolving Credit lines with Low Flat Fee Rates.
Typical Documents Needed for Trucking Companies:
- A two-page application
- An accounts receivable aging report
- A customer list with credit limit request
- Copy of articles of Incorporation or DBA filing
- Load Tickets or Rate Confirmation Agreements
- Invoices to factor
Most of our clients are either:
- Experiencing cash flow shortages due to a slow turnover in accounts receivable
- Fast-growing companies whose past earnings and sales histories will not justify traditional bank loan financing
- Start-up businesses with no financing base
- Principals with good or bad credit and cannot obtain traditional financing
- Have lost their line of credit due to covenant violations
- Need export receivable financing, credit protection, or purchase order financing
Types of other Small Business Financing Available
SBA Loans
SBA 7(a) loans from $30,000 – $350,000 from the Capital for Business network can be used for debt refinancing and working capital. Working capital includes operational expenses, marketing, hiring, etc. SBA loans can be used to fund new equipment purchases as well.
SBA Commercial Real Estate Loans from $500,000 – $5 million from the Capital for Business network can be used for the purchase or refinance of commercial real estate that is 51% owner-occupied.
Small Business Loan
A small business loan from our marketplace of 100+ alternative lenders will enable you to get the capital you need for your business growth. Our high approval rates mean that we say ‘Yes’ when banks say no. Our lending process which takes less than 5 minutes will not affect your fico score and we boast a 24-hour loan approval.
Working Capital Loan
Working Capital can help you take care of immediate needs in your business, whether that is a cash-flow shortfall or a new business opportunity. No collateral is required for our working capital loans or short-term funding, the required documentation is limited and perfect credit is not needed. Nearly every industry can get a working capital loan. Working capital loans are perfect for business owners who need short-term funding to grow. Working capital loans are simple, fast, and affordable and are designed to help with seasonal shortcomings with revenue or boost inventory.
Business Line of Credit
A business line of credit provided by Capital for Business is based on the revolving credit. That means you can use the funds over and over again. Having a business line of credit provides you with extra flexibility and peace of mind when it comes to injecting money into your daily operations. It helps you avoid downtime and make sure things are running smoothly
- Receive up to $250k with a business line of credit
- Business lines of credit rates as low as 6%
Business Loans for Bad Credit
we have bad credit business funding options for business owners with bad credit. Bad credit shouldn’t affect your ability to receive a small business loan so our loan advisors take look at your business revenue and potential, rather than your credit score to find alternative lending options for your business.
Merchant Cash Advance
A Merchant Cash Advance is an innovative alternative to a traditional small business loan. Capital for Business utilizes your expected future credit and debit card sales to be able to provide you with working capital so you can put your business plans into action. Instead of fixed daily payments, the repayment for an MCA Loan is completely flexible.
- Receive up to $500k with a merchant cash advance
- Factor rates as low as 1.15
- Access to business funding in as little as 24 hours
Equipment Financing
Are you in the need of new business equipment but don’t have the necessary capital on hand to pay for it? Equipment financing done with Capital for Business is truly simple fast and affordable. We are a top-of-the-line marketplace alternative lender that can provide you with same-day funding to purchase any type of equipment that your business may need. Whether software, heavy construction equipment, vehicles, and much more. You will repay your equipment loan with low monthly payments and we keep the upfront cost minimal to something that your business can afford.
