Working With 5 Star Freight Factoring
Positive cash flow brings happiness… this is especially true in the transportation industry. With Fuel prices at an all time high coupled with the cost of insurance and compliance, it’s difficult to stay ahead of the curve. We understand because we have specialized in the freight factoring business for the last 15 years. Most trucking company failures can be traced to a lack of positive cash flow and factoring your invoices is the most effective means of quickly impacting your cash flow.
5 Star Freight Factoring provides a complete package of freight factoring services to owner operators up through fleet owners. We are able to advance up to 95% of an invoice within 24 hours of receiving a copy of the Bill of Lading. That’s right! Get 95% of your invoice within 24 hours from a faxed copy. Use that money to pay for fuel or pay a driver. We know you run on cash and we exist to put that cash in your account as fast as possible with no hassles. Check out our current factoring rates.
Apply today, fund tomorrow, no games - We understand that you need to spend time running your business, not filling out forms or looking for 3 year old paperwork. We will review your simple 2 page application and approve it within 1 business day. We will have you set up and ready to fund within 24 hours. We’re not going to ask you to jump through a bunch of hoops to get your deal funded. Stop wasting valuable time with factors that need too many signatures or want you to answer questions about your driving record. Simply put, we don’t care. If you have invoices to factor, we’ll help.
As our freight factoring client you will have a personal account manager assigned to your account. This person will be available to you via phone or email to answer questions and fund your invoices. You will also have access to our state of the art online account management system where you can review the status of invoices, review daily balances and even check credit of shippers and brokers. Don’t like the internet? No worries, call your account manager and they will be happy to do the work and then send you what you need.
Have an invoice that never paid? It happens to the best of companies. Large fleets have entire divisions of the company to manage credit limits with shippers and brokers. We understand the importance of getting paid. That’s why you have 24/7 access to our online credit monitoring system. We have thousands of credit reports at your fingertips. All you have to do is log in to your freight factoring account to do a credit check. Its that easy. We will tell you instantly if you should take the load. Want to add a new company to our system? No problem, unlike most of our competitors, it’s free.
Along with our freight factoring services you have access to our EFS fuel card program. Take advantage of discount fuel prices at most major truck stops. With our Cost-Plus 6 program you only pay 6 cents above the cost of fuel for each location. This adds up to anywhere from $0.05 to $0.35 a gallon. This is huge savings for our freight factoring clients that can’t obtain a credit line for discounted fuel. Plus, you can review fuel prices daily online and plan ahead by filling up at the cheapest location down the road. Our Freight Factoring clients save thousands of dollars.
- Highest advance rates in the industry
- FREE credit checks
- NO HIDDEN FEES
- Fuel Advances
- FREE ACH deposits to your bank account
- Fixed fee factoring terms for 90 days
- We match broker quick pay fees
- FREE Online credit checking
- Low factoring fees
- Significant fuel discounts with our fuel card
- Scan or Fax your invoices to us for funding
- Personal account manager
- FREE billing with follow-up calls and collections.
- Online Reporting
- FAST setup… we can have you approved and funded in 24 hours
- Discount FedEx programs available if needed