Freight factors are in business to buy freight bills, providing immediate cash flow to freight carriers. The services offered can vary greatly. Factoring with professionals specializing in risk management, credit, collections, fuel, cash application and funding can provide more than just cash flow for your business. They can help you grow! Consider these factors…
When shopping for a factor, beware of the fine print. Don’t get locked into long term or minimum volume contracts. At Apex, we don’t have minimums because we know your volume can fluctuate. If your contract requires a minimum volume, it could cost you an extra 20% on top of your factor fee. The initial low fee isn’t low enough to recover from the minimum monthly volume requirement if you have a truck in the shop.
Apex Factoring Advantages
Avoid advances or quick pays since they cut into your earnings. Consider factoring your invoices and participating in a fuel discount program instead. Apex’s Fuel Program offers deep discounts on fuel every day and enables carriers to easily locate the best net daily fuel price on each driver’s route, manage cards and set purchase limits.
Maximize your efforts by choosing loads that pay more, not faster. Apex regularly reviews multiple credit resources to provide the most accurate information available enabling carriers to make more informed business decisions. Did you know it can take up to 12 loads to recover the cost of one load that didn’t pay? Checking credit before you haul a load will minimize your risk.
Build relationships with well-paying brokers and secure direct lanes with shippers to gain industry knowledge and dependable income. Established factoring companies have established reputations…understand a factors collection style and reputation by asking your customers about their experiences.
Simplify your day by streamlining paperwork and accounting. Apex is completely transparent and stores all invoices, payment documentation, reports and forms requested on a regular basis online for easy access and distribution. We are accountable for every dollar related to your account.
All factors considered, ponder this…The Apex Difference— Apex is America’s Favorite Factor, handling every aspect of business with honesty, integrity and professionalism. Since 1995, we’ve dedicated ourselves to uniting truckers as a community of knowledgeable, profitable entrepreneurs by providing the tools, resources and people to create the difference between survival and ultimate growth. Our product is different. Our culture is different. That’s the Apex Difference.