Factoring Companies for Freight Brokers
Benefits of Factoring For a Freight Broker
Small and medium-sized freight brokers everywhere are struggling to compete with the cut-throat rates and carrier programs offered by the few mega-brokers operating today. The biggest advantage these mega-brokers have over the smaller shops is their access to working capital. TAFS has key partners that specialize in freight factoring for brokers. A trucking factoring program will give you peace of mind over your accounts receivable while getting you the capital your startup needs to grow and take on new clients. Having a professional team offering back office support like this can be huge for anyone in the trucking industry. Work with one of the best factoring companies to expand your client base by giving your clients the quick pay options small business owners crave!
Design a custom Quickpay program that lets you set and keep rates, while you get carriers paid quickly.
Offer standard pay terms 7-14 days from receipt of paperwork.
Stop wasting time with mountains of paperwork and instead focus on finding new business and quality carriers.
Build business credit. Receive increased credit lines from factoring companies, allowing you to expand your carrier base.
Fuel card, Fuel discounts, fuel advance programs for truckers.
Free credit checks to view shippers’ credit ratings before hauling their loads
Factoring Process For Brokers
The industry is continuing to grow and there is a lot of competition out there these days for freight brokers. With more than 20,000 registered as a freight brokerage in the United States, you need to be operating efficiently and reliably to keep up with the bigger brokers and not get left in the dust. Freight bill factoring is much more than payment advances with a factoring fee. It can take your company to the next level through a steady source of working capital and strategic partnerships. Cash flow problems continue to be a major failure point for many brokers and trucking companies trying to make it in the commercial freight industry. This issue spans from the smaller owner-operator outfits to the larger companies. Did you know that a freight factoring company is not just for carriers? In fact, our partners have been providing freight factoring services to freight broker companies for years and truly understand the unique needs and insight brokers need to succeed in the industry. We understand that the cash flow hassle can be a make or break circumstance for your business. Shippers do not always have your best interest in mind and often pay out slower than you really need them to so that your business can keep going on to the next job.
In recent years we have seen the growing trend of bankruptcies among registered freight brokers as they feel the squeeze on their finances from shippers that continue to slow pay. However, we know that number is often higher than reported. Smaller companies tend to just silently fade away without the formalities of filing for bankruptcy or officially closing the business.
This is where our partners come into the picture. They are able to turn your freight bills into money now through an invoice factoring program, covering your company’s needs to stay on the path to success through free fuel cards, account management, and much more.
Don’t get passed up by another carrier for one of the mega-brokers taking all the business preventing you from getting new customers. Take control of the situation and get the right team on your side to make the winning difference.
Don’t fall for those non-recourse factoring gimmicks with long-term contracts and hidden fees. Use the right partner for your trucking business. Contact us today to learn more about our broker factoring partners, and get a free quote to start factoring. Contact us at (913) 393-6100.