What is Freight Factoring
Freight factoring allows truckers to be paid immediately for work already completed. A freight bill factoring company like Apex purchases trucking industry invoices at a discount and then funds the carriers for the receivables purchased. Many trucking companies rely on freight bill factoring, because even in good economic times they can’t afford to go unpaid for 30 days or more.
By selling your freight bills to Apex, you increase your cash flow immediately. You no longer need to worry about collecting. We do that for you.
Freight bill factoring also allows you to have immediate cash flow without creating any debt.
More about factoring
Factoring is often used synonymously with accounts receivable financing. Factoring is a form of commercial finance where a business sells its accounts receivables (in the form of invoices) at a discount.
Our freight bill factoring program allows you to turn your slow paying freight bills into immediate cash – eliminating the wait. We provide you with money to make critical payments to drivers and suppliers, while we wait to get paid by your customer. Freight factoring is very easy, quick to get set up, and inexpensive to use.
Freight bill factoring is widely accepted in the transportation industry. Here is how it works:
- You submit a freight bill you want to us to purchase.
- We advance you up to 95% of the invoice/bill of lading. The remaining (non advanced) funds will be rebated as soon as the invoice is paid by your client.
- We handle all collection activities.
- Once the freight bill is paid, we rebate the remaining reserves, less our fee.
Apex is the leading full service factor specialized in transportation. We have a team of experts with experience in factoring for the transportation industry.
Don’t wait 30 to 60 days to get paid. Get cash in 24 hours!
Call today at 1-800-511-6022 or simply complete our quick start application and a team member will call you shortly.