Are you wondering what the benefits of freight factoring are? Porter Freight Funding is here to help you and your trucking company flourish. We have rallied together the top 5 benefits of factoring your trucking business:
Porter Freight Funding pays you the same day you drop! You don’t have to wait and wait for your money. Porter Freight offer recourse and non-recourse factoring. Recourse factoring is when a factoring company purchase your open invoices and advances funds on the loaded haul. The factoring company would then wait for the customer to pay and collect on your behalf so you can run your business instead of spending time chasing the money you are owed. The company will pay you 100% advancement. If we are unable to collect payment from your customer in 90 days, you must pay back your advancement. Non-recourse factoring is exactly the same as recourse, however, you will receive 97% of your advancement (the factoring company takes a 3% fee). With non-recourse, the factoring company takes on the risk of the invoices if your customer files for bankruptcy or goes out of business
Porter Freight Funding provides it clients with industry’s best fuel card, powered by EFS fuel networks which are services by over 14,000 stations nationwide, saving them money on every haul. Competitive discounts are available with major truck stops across the country with the fuel card. The fuel card also offers credit line and fuel advances for diesel fuel available.
No Long-Term Contract
No! Unlike some companies, Porter Freight Funding does not require you to sign a long term contract. You stay in control of your business with month-to-month agreements. No commitment issues. Get a discount for signing a 6 month or 1 year contract! Our desire is to earn your business not force you to stay with us.
Allows You to Take on More Loads
Factoring and fuel advances gives you the advantages of being able to have enough capital on hand to take on more loads or shippers.
Grows with your Company
Factoring lines are dynamic. Unlike credit lines, factoring lines do not have limits. When you grow, you can renegotiate your advancement rate to allow you to continue to take on more loads and shippers.
Our goal is to help you in any way we can to be successful while driving your truck. For more information on how we can help your grow your business through same day pay, freight finding, and fuel cards, call us today at (205) 397-0934 or fill out the form here.