Freight Broker Factoring

Freight Broker Factoring

Grow your freight brokerage without cash flow headches.

5 Star freight broker factoring programs help brokers of any size better manage the cash flow that ties directly to their revenue.  Our programs and straightforward and direct and provide freight brokerages access to cash that allows you to build your business as you want without being limited by shipper payment cycles.  Factoring solutions will help to build credit for newly established brokerages and to strengthen the credit of those already established.

Keep a great credit rating and offer Quickpay solutions for carriers.

Factor from faxed copies of your paperwork, no originals needed

Freight broker will keep all originals in safe keeping within their office for a period of no less than 18 months and will make any original bill of lading available upon request.

Advance Rate: 95% of gross invoice amount is advanced to Broker within 24 hours of receipt of all required paperwork

Factoring Fee: Varies depending on the size of the account but they typically start at 2.95%

Freight Broker Factoring

Carrier Payments: A Quick Pay program is available via Tchek only (Quick Pay is not allowed if Carrier has a Factor) and the Carrier will be charged a fee of $25.00.  The fee will be deducted from the payment.  If the Carrier is not requesting Quick Pay, payments will be made via paper check (at no cost).  Checks will be mailed no more than 10 days after receipt of all required paperwork.

Requirements:

  • Broker is responsible for executing a legally binding Broker/Carrier Agreement for each Carrier and it is to be kept at Broker’s location. Broker is responsible for executing a legally binding Rate Confirmation Sheet for each load
  • Broker will provide a W-9 for each Carrier
  • Broker will provide a signed bill of lading (electronic copy is acceptable), a signed rate confirmation sheet, the Carrier’s invoice to Broker, and the Broker’s invoice to Shipper
  • The Notice of Assignment if Carrier has a Factor

Call 1-888-785-4491

or submit the form below