Frequent Questions

Trucking Factoring Frequent Questions

Why should I use a factoring service?
Factoring can help advance your business and improve your cash flow.

How much will it cost me?
Apex will design a rate plan customized to fit your business needs. We do not have a standard rate for all clients.

Do I have to factor all of my accounts receivables?
No, you are free to factor as much of your business as you want. However if you factor one invoice from a particular customer, you will need to factor ALL invoices from that customer. This reduces customer confusion on where to send payments.

What if I decide factoring isn't for me?
Apex does not lock you into minimum fees or long term contracts. We are here to help your business, not hurt it.

Why are credit checks so important?
You'll know instantly before you haul a load, whether or not the broker/shipper can be relied upon for payment. This can significantly cut down on payment delays and other issues.

What services does Apex provide?
Not only do we factor invoices, we manage your portfolio from bill receipt all the way to cash application. Apex offers collections, credit, and account management to make your business run smoothly and effectively.

What does Recourse & Non-Recourse mean?
Recourse and non-recourse refers to who assumes the risk of non payment. A recourse arrangement means that if for any reason your customer does not pay an invoice, you are responsible for buying it back from Apex. A non-recourse arrangement means that if your customer does not pay an invoice because they are financially unable to, Apex will take the loss instead of the client.

How will I check credit on my potential customers?
Whether it's our 24/7 online system, a quick phone call, or a fax, you'll know instantly the amount of credit we will extend on a customer of yours. Unlike other factors, Apex offers you a precise amount on the credit which gives you, our client, some idea of your customer's credit worthiness.

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