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Freight Factoring2024-06-21T11:50:34+00:00

Freight Factoring

Transportation Factoring Services

With a combined 100 years of truck factoring experience, we know how to improve cash flow for your trucking business.

Get Paid Faster With Freight Factoring

Payments from shipping companies take a while to come through, but you need money now. At Porter Freight Funding, we offer freight bill factoring — a service that provides you access to your money within 24 hours and sometimes sooner. You’ll accept and deliver shipments on your own, then send us the load documentation. We’ll give you an almost 100% of what the shipper owes you right away.

As a freight factoring specialist, Porter Freight Funding contracts are flexible and full of benefits. We offer convenient options like free broker credit checks and free invoicing with any of our freight factoring services. With over 100 years of industry experience, we’re the right freight factoring company for trucking businesses anywhere in the U.S. Get started with Porter Freight Funding today!

Speak To A Freight Factoring Specialist Today 

205.397.0934

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Dedicated account executive

100 plus years of experience

Network of vetted dispatchers

Fuel card & discounts

How Our Freight Factoring Process Works

Getting your earnings fast is easy with one of our freight factoring programs. You’ll deliver your loads normally, then send all necessary load documentation. Once we process your load we’ll send funds to your bank account or fuel card according to your preferred plan for factoring freight bills.

We offer two types of freight bill funding packages. Recourse factoring packages yield competitive advance factoring rates within a short contract that you can renew at any time. Non-recourse factoring gives you 100% of your earnings upfront as soon as you submit your notice.

Non-Recourse Factoring

  • No reserve account – you receive 100% of
    your money upfront when you send your
    factoring bills

  • Flexible contract options

  • No minimum factoring requirement
    (on 1 or 2 trucks)

  • Free credit checks on brokers
  • Billing and collections included

Recourse Factoring

  • Competitive advance rates

  • We offer flexible options of 1 year, 6 months, or
    month-to-month contracts

  • No minimum factoring requirement on
    1-2 truck companies.

  • We will credit check all your brokers for free

  • Billing and invoicing assistance is optional

Why Freight Factoring With Porter Freight Funding?

There are several ways trucking businesses can benefit from working with a freight factoring company. Porter Freight Funding helps you capitalize on them all, plus our own unique perks:

  • Financial certainty: We’ll pay you upfront and wait for your freight bills so you’ll get what’s yours every time.
  • Same-day factoring transactions: You’ll receive your share as soon as you submit all the information we need to approve the shipper and process the payment.
  • Pre-approved clients: We’ll grant you access to pre-approved brokers and shippers so you can expand your earnings.
  • Dedicated industry experts & representatives: Our team will be there to handle all of your transportation factoring questions and needs.

Transportation Factoring Services Include

SAME-DAY Funding
On all loads sent in via your choice of ACH, Wire,
or Fuel Card.

No monthly minimums
On trucking companies with 1-2 trucks.

Contract options available:
Yearly, 6 months, or month-to-month.

Our rates are not tiered.
They are all true flat rate pricing.

Dedicated client representative
Assigned to take care of your business needs.

Fuel advances available
45% of the load

Expert dispatchers for:
Reefer, Hotshot, Flatbed, Van, and Power-Only.

Access
Access to list of pre-approved brokers and shippers.

There are endless amounts of freight factoring companies across the United States, but not all of them have your back like we do. You deserve the best for your trucking company, and that’s exactly what we are.

Talk with a freight factoring specialist today about how we can help you increase your working capital and grow your trucking business.

Already Factoring With Porter Freight?

Learn More About Our Freight Factoring Process

Your trucking business will go further when you have the financial certainty of fast, competitive payments. Porter Freight Funding is here to advance your cash flow so you can focus on what your fleet does best. We encourage you to apply online today! For more information, please get in touch with a helpful representative.

Our clients work with a dedicated client representative and industry experts for all their freight factoring needs.

“Porter will always handle your billing and factoring services with the best customer service, respect, and attention to detail.”

Apply for Factoring Now

Frequently Asked Questions

Learn more about freight factoring with these FAQs from Porter Freight Funding.

Freight factoring is a method of getting your profits back in your pocket sooner. Instead of waiting weeks or months for your clients to return their invoices, hand them over to us. We’ll pay you for your work immediately and deal with collecting the funds for your freight factoring bill in due time.

Once you complete a job, you’ll compile all relevant information, including the invoice and other bills. Then, you can send everything to a freight bill factoring company like Porter Freight Funding. We’ll send you the money expected from the invoice — minus a small processing fee — within 24 hours. From there, we’ll take care of invoice collection personally.

It certainly can — but not in the way you think. Freight factoring is not a loan, nor is it generally something you’re responsible for paying off. It does, however, help you balance your finances, which means you can stay up to date on bill payments. Paying off other debts will help you grow and improve your credit, so in this way, it can give you a better handle on your business credit score.

Most freight factoring companies are not right for everyone. Take the time to research your options and understand their fee system, the services they offer and their disbursement process before agreeing to work with them. You want to find a business you can trust to handle your money that has your best interests at heart. After all, the more money you make, the more they can, too.

Possibly. The details of your commitment to your factoring company should be outlined in your contract. If there is no mention of minimum loads or consistent service, then you’re free to collect some of your own invoices. However, when you can get your money right away through factoring, why not?

Freight factoring fees vary by company, but in general, you can expect to pay 5% or less of each invoice. Over time, your factoring company may even lower your fee as you prove your value and commitment to working with them.

Possibly! Trucking factoring was originally designed to help trucking companies get support when traditional methods like bank loans weren’t an option. At Porter Freight Funding, we take on everyone from owner operator small businesses to nationally recognized brands, even if their credit is low or nonexistent.

Freight Factoring Resources for Truckers

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