Apex Factoring and Trucking Press Information
Apex Capital Offers Tips on Finding the Right Factoring Partner
FORT WORTH, TX - Apex Capital, the leading full service factor, offers some practical tips for selecting the right factoring partner.
With the daily addition of a new factoring company, it can be difficult to understand and know how to find the right partner. Many factors are full of promises with no intention to ever fulfill them. How do you know which factor to choose? Aren't all factors really the same? Not really.
Step one; look for a reliable and reputable factor. This could actually be more important than your fee. Service, reliability, and reputation are the fundamental elements of a quality factor. Look for one that's been in business for a while, has in-depth trucking experience, a reputation for honesty, and offers services you'll need to make smart decisions.
Step two; ask questions. Most factors that have low advertised rates use these to lure you in. Only after you're hooked, do you discover all of the back end hidden fees. Always ask these questions before entering into a factoring agreement:
What type of online reporting is available?
What reports and schedules will I receive?
Are there any minimum fees?
How do you handle collections?
Do I have to sign a long term contract?
Is there a penalty if I don't meet the minimum?
Step three; know the terms of the factoring agreement. Have an attorney review the contract. You may spend a couple hundred dollars for the attorney to read and interpret it, but that investment could prevent a costly mistake. Many factors take advantage of the unsuspecting carrier locking them into long term contracts and factoring agreements imposing minimum monthly fees. Do your homework.
About Apex Capital
Apex Capital (www.ApexCapitalCorp.com), based in Fort Worth, TX, is the leading full service factor specialized in the trucking industry. The 12-year-old factoring firm delivers competitive advantage to clients throughout the United States providing the highest level of service to clients through personal attention and superior technology. In 2006 Apex was voted by its own employees as one (#11) of the Top 60 Companies to Work for in Texas.
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