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!
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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 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 billsFlexible 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 contractsNo 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.
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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.”
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.