When it comes to freight factoring,
one star stands behind you.

  • Fast approval process
  • Flexible freight factoring terms
  • Same-day funding
  • Competitive rates

Freight factoring gives you fast, steady access to working capital for:

Image of a shield to represent protection.

INSURANCE
Protect your business.

fuel | Freight Factoring For Trucking Companies

FUEL
The lifeblood of your business.

driver | Freight Factoring For Trucking Companies

PAYROLL
Meet payroll obligations and add new drivers

maintainence | Freight Factoring For Trucking Companies

MAINTENANCE
Routine or unexpected repairs.

operations | Freight Factoring For Trucking Companies

OPERATIONS
Expand freight operations.

 

Driving Success: How Martin Pulido Trucking Secured Growth and Stability with Charter Capital

Martin Pulido Trucking Case Study | Freight Factoring For Trucking Companies

Freight Factoring For Trucking Companies and Freight Brokers

WE MAKE FREIGHT BILL FACTORING SIMPLE.

OTR Transportation

A steady stream of income and positive cash flow is the fuel that keeps your business running. With a freight factoring line from Charter Capital, you have an on-hand solution to obtaining the funds you need to operate and grow your trucking business.

These days, borrowing from an online lender or commercial bank can come with numerous pitfalls. Charter Capital offers an affordable working capital solution and reasonable factoring rates that doesn’t require you to take on additional debt. Our invoice factoring services are fast and keep your business rolling with a flexible funding process that eliminates any roadblocks.

Freight invoice factoring is the selling of business invoices or accounts receivables to a factoring company for trucking, like Charter Capital. This is an effective alternative to waiting for customers to pay their outstanding invoices or applying for a bank loan.

 Freight Factoring Essentials for Trucking Business Cash Flow Optimization

Freight factoring, a specialized form of invoice factoring, is revolutionizing cash flow for trucking companies. This financial solution, often referred to as truck factoring, allows freight and trucking companies to sell their outstanding invoices to a factoring company, providing immediate access to working capital. Understanding how freight factoring works is crucial for small trucking businesses and new trucking companies looking to stabilize and grow their operations.

The process of freight invoice factoring involves submitting invoices to a factoring company, which then advances a significant portion of the invoice value, minus the factoring fee. This approach is not a loan but a way to accelerate cash flow, making it ideal for transportation factoring. Companies that use factoring, especially those in the freight and trucking industry, benefit from the quick injection of funds, enabling them to run their trucking business more efficiently.

Qualifying for freight factoring is simpler than traditional financing options. Freight factoring companies typically offer both recourse and non-recourse factoring, giving trucking businesses the flexibility to choose the type of factoring that best suits their needs. Recourse factoring means your  trucking company retains the risk if the client doesn’t pay, while non-recourse factoring provides more security, as the factoring company absorbs the cost of the unpaid debt  removing liability from your business.

Factoring for trucking companies is not just about improving cash flow; it’s also about ease and convenience. The best factoring companies for truckers offer services like handling collections and providing support, allowing trucking companies to focus on hauling freight rather than chasing payments. When a trucking company uses freight factoring, the factoring company will pay you nearly the full value of the invoice, providing the financial backbone necessary for growth and stability.

Freight factoring for trucking companies is an effective, efficient way to manage finances. Whether it’s a small trucking firm or a large freight business, factoring provides a reliable method to ensure steady cash flow. With freight factoring, trucking companies can expand their operations and explore new opportunities without the weight of financial constraints. Learn more about freight factoring and discover if it’s the right solution for your trucking business.

How Does Truck Factoring Work?

  • You continue to bill your customers as you always have.
  • You submit the invoices that you want to factor to Charter Capital along with our simple factor form.
  • We typically deposit your funds into your bank account on the same day you invoice, minus a small factoring fee.
  • We wait for your customer to pay the invoice directly to us When we receive payment, we notify you on the same day.
  • You continue to grow your business, free from cash flow worries.

At Charter Capital, each client is assigned one dedicated account manager, making coordination easy. We also provide back-office support for credit and collections and mailing out invoices or other factoring processes

Benefits of Using a Truck Factoring Company

Truckers
  • Fast access to working capital at low rates for local and regional carriers, long haul carriers, and freight brokers.
  • Minimal paperwork, easy application.
  • You factor only the invoices you choose.
  • Highest advance rates in the industry.
  • No term contracts.
  • Low rates, no hidden fees.
  • Free credit checks.
  • Fuel cards available.
  • Does not increase your business debt.
  • Extend generous payment terms without having to borrow money.
  • Reduce bank NSF charges.
  • Negotiate supplier discounts.

Types of Freight Companies Using Our Freight Factoring Services

Charter Capital provides freight factoring services for owner-operators in the trucking industry nationwide. Freight factoring provides you with  an easily accessible source of funds. Working capital is available without the need for additional debt.

Types of freight companies we serve:

  • – Owner-Operators
  • – Small and Mid-Size Trucking Fleets
  • – Freight Brokers
  • – Auto Haulers
  • – Dump Truck Services
  • – Oilfield Transportation Services
  • – Hot Shot Trucking
  • – OTR & Motor Carriers

More benefits of freight factoring for trucking companies & owner-operators:

  1. Speedy service and funding within 24 hours once your account is set up.
  2. Immediate cash flow to help operate your business.
  3. Flexibility to structure customized financing.
  4. Flexibility to factor only the invoices you choose.
  5. Minimal paperwork and a user-friendly application.
  6. No hidden fees, no application fee.
  7. No long-term contracts.
  8. Free credit checks.
  9. Fuel cards available.
  10. Highest advance rates in the industry.
  11. Comprehensive reporting.

The extra mile, defined.

As a small to medium-sized carrier, you need to have a steady cash flow for your trucking in order to pay for essential expenses like fuel, repairs, payroll, and maintenance that are necessary to keep your business rolling. Many trucking companies use freight factoring in the trucking industry to gain quick access to working capital.

At Charter Capital, fast cash at competitive rates is just the beginning. You also get:

  • – Customized financing that fits your needs.
  • – Transportation specialists who understand your unique business problems and goals.
  • – A true partner to help you overcome financing hurdles and do the extra work to make factoring work for you.
  • – Dedicated account managers who care about your business.
  • – Fast response with no layers of approvals.

We’ve earned a reputation for assisting trucking businesses over the past 30 years. Long-term customer relationships and client referrals illustrate the positive results of your personal, one-on-one service.

How Does Freight Factoring Work? Easy!

Our funding method acts as an alternative source of business financing and eliminates many of the criteria required for traditional bank loans. Your ability to get funding is based on the creditworthiness of your customers, not your balance sheet. The amount of funding you have access to increases in proportion to your invoicing.

Grow Your Trucking Company’s Cash Flow with Transportation Factoring

trucking accounts receivable factoring companies

The key to growing a freight company, or any business for that matter, is working smarter—not harder! Of course, that’s easier said than done. Here are a few ways lean and mean freight companies can make cash owed to them work smarter.

Make Your Money Work

Maintaining positive cash flow is perhaps the most challenging part of managing a fleet with fewer than 100 trucks. A single truck can cause a company to be in financial trouble until it is repaired. This means that there is one less account receivable while an account payable–mechanics’ services–is outbound.

One way to maintain cash flow without hitting the brakes is by using a freight factoring company. A factoring service funds slow-paying freight bills so that fleet operators can keep their feet on the gas pedal. By receiving payments early, operators have money to pay drivers, maintain vehicles, and even expand.

Invoice factoring allows business owners to grow their business without the stress of maintaining cash flow. Fleet operators can’t take their time delivering their goods, so they shouldn’t have to wait for payments once the service is provided.

Here’s how it works: When a driver delivers freight to a customer, you send the bill to the customer and submit a copy to a transportation factoring company like Charter Capital. The factoring company pays you, and you use the funds to grease the wheels of your successful business. Once the freight customer pays the factoring company, the transaction is finished.

Free Fuel Advance for Your Business

Turn your freight bills into SAME-DAY cash!

  • Low Rates
  • No Term Contracts
  • No Hidden Fees
  • Free Credit Checks
  • Dedicated Account Rep
  • Fuel Cards Available
  • Free Load Board Access
  • And MORE!

So Why Choose Freight Bill Factoring Over a Traditional Bank Loan?

For starters, getting approved to use invoice factoring is a lot easier than getting approved for a bank loan. For small or new freight and trucking companies that haven’t had the opportunity to establish credit, a transportation factoring service can fill the void with limited fees and quick access to cash flow. Invoice factoring approval is based on the credit of a business’s customers—not on the credit of the fleet operator or manager.

Freight factoring avoids debt. Freight factoring companies make a small portion of the amount that you charge your customers. You don’t have to pay interest or carry any debt. Factoring allows you to get paid immediately after providing a service. Instead of waiting for 90 days, the customer will pay.

Using freight factoring foryour trucking company’s needs is also a quicker process than getting a bank loan. Some freight factoring companies can issue a direct deposit or wire money on the same day. Banks can take weeks or even months to approve a business loan.

Don’t let a 90-day wait for customers to pay their bills stunt your business’s ability to grow. Contact us to find out more about freight factoring.

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