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Freight Factoring

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VIP Portal | CamionDepot > Freight Factoring

What is Freight Factoring?

Freight Factoring is a very popular method used by trucking companies to convert their receivables into cash.  It consists of selling a freight bill or a combination of outstanding invoices to a factoring company.   The average trucking company usually waits over 39 days to get paid on a load.  Freight factoring allows you to get infuse cash flow to your operations today for a service fee.

With freight factoring, a trucker delivers their hauls as usual, but instead of waiting for payment, they assign or sell the invoice for the job to a third party funding company.

Freight Factoring Accelerates Cash Flow!

  • No monthly minimum volume fees
  • No long-term contracts
  • No termination fees
  • Professional collections on factored invoices
  • A highly experienced funding specialist to help you manage your account
  • FREE fuel card available with discounts on fuel nationwide

Pricing Options Available:

  • 95/5 Deal:
    • Advance 95% of the invoice amount
    • Fee 5% – same rate for first 90 days
    • 5% Reserve released when invoice is paid
  • Standard Tiered Pricing
    • 85% advance of the invoice amount
    • Fee Structure – 2.5% for first 30 days + 0.50% for each additional 10 days
    • Reserve released when the invoice is paid
  • Same-day funding if invoice received by 10AM

Steps In a Successful Freight Factoring Transaction

  1. You Sign Up to Become a Member of CamionDepot
  2. You submit a funding application to enroll in the program before accepting any loads.
  3. Our freight factoring team will review your request and enroll you in our online platform so you can start factoring your freight invoices.
  4. You begin to haul and deliver loads for your customers.
  5. As your business demands the need for immediate cash flow, you decide which invoices to factor.
  6. You upload your load’s paperwork and invoices to your online account.
  7. We will buy the invoices and pay you within 24 hours.
  8. We will hold the invoice until is time to collect payment from your customer for the outstanding balance.