COMPARE, CHOOSE AND APPLY FROM THE TOP FACTORING PROGRAMS FOR TRUCKING
Type of Factoring
Recourse
Non-Recourse
Who is it for?
- Owner-operators
- New Carriers
- fleet owners
- Transportation Companies
Type of Vehicle?
- Power only
- Dry Van
- Reefers
- Flat beds
- Box Trucks
- Hot Shots
Why Trust MT?
- Secured
- Experiential
- Transparency
- All Over USA
- MT Buddy Assist
What is Truck Factoring
Factoring is a process by which carriers/trucking companies get paid in advance by submitting load invoice to factoring companies, after pulling an authorized load. With this you get instant payments. Otherwise, brokers take 30 to 45 days after the completion of a load, which puts many you in a severe cash crunch.
Types of Factoring Programs
There are two types of factoring programs– recourse and nonrecourse factoring for owner operators.
Liability of the freight bill/invoice still lies with the carrier or owner operator. In case the freight broker goes bankrupt, amount is charged back by the factoring company.
The factoring company takes the responsibility for the invoice or trucking bills. In case the non-payment of the invoice by the freight broker or shipper the factoring company beards the loss.
Years of Experience
1
+
Trucks Dispatched
1
+
Loads
Booked
Booked
1
+
Brokers/Shippers Network
1
+
Factoring Rates
Average of 3%
What are you paying for:
- Cash Advance – brokers take 30-45 Days to pay, you get paid same day.
- Risk – Transfer of the liability in case of a non-recourse factoring if the broker goes out of business, it’s the responsibility of the factoring company.
- Back Office Operations – Once the invoice is taken over the whole verification and collection of the invoice is taken care by the Factoring company.
- Other value-added services such fuel cards, discounts etc.
How does it work:
- Complete a load, let’s say of $1000.
- Send the load paperwork such invoice with rate confirmation and bill of lading to trh factoring company.
- Get paid the same day for $1000 – 3% Fee Charged = $970
- Use the continuous cash flow to pay for running expenses such Fuel, Insurance, Driver salaries and grow your business.
Highlights Of our Factoring Programs
- Factoring Type: Non-Recourse(100% protection form broker failure) & Recourse
- Rate - Best in Industry
- Same Day Funding
- Customer Support - Dedicated Account Manager
- Value Adds - Fuel Card, Fuel Line of Credit, No Minimum Invoice Value, etc.
- Contract Period - Month on Month (No lock-in for months or years & no termination charges)
- NO HIDDEN FEES
Highlights Of our MaxTruckers Factoring Proposals
- Multiple Truck Factoring Proposals
- From Top-Rated Truck Factoring Companies
- 100% Verified Companies
- 5 Star-Rated Factors
- Recourse & Non-Recourse Truck Factoring
Advantages OF choosing Factoring with MaxTruckers
- Impartial, fair, and FREE consultation
- Proposals designed as per your business nature
- Multiple factoring proposals
- 100% Pre-verified, handpicked & trustworthy factoring companies ONLY
- Dedicated MaxTruckers buddy for factoring consultation
- Regular quality check of the factor
Are you an Owner Operator or New Carrier? Receive a complimentary Start-Up valued at $1500 to Grow your Business and Maximise Profits. Features of Start-Up kit:
- Benefit from access to multiple FREE Fuel Cards. Additionally, opt for an optional fuel line of credit up to $6,000 per truck weekly. Save an average of 20-42 cents per gallon at over 1,400+ locations, including TA®, Petro Stopping Centers®, TA Express®, AMBEST, Sapp Bros., Road Ranger, Roady’s, PWI, Love’s, Petro, Speedway, and more (Guarantee provided). Plus, enjoy an average savings of $40 per tire and more!
- Get 10% off for an entire year on DAT Load Board — the premier marketplace for freight loads and trucks, boasting over 900,000 loads daily.
- Obtain a FREE list of 300 VERIFIED brokers who actively partner with new owner-operators.
- Experience priority in MT Speed, our award-winning dispatch services, with special discounted rates.
- Introducing the MaxTruckers Referral Program: Refer a friend for factoring and earn $150 per successful referral. Potential to boost your income by over $1000 monthly.
- Gain access to FREE Knowledge Resources from MaxTruckers, designed to guide you in growing your business.
