Protect your trucking company against unpaid invoices with a non-recourse factoring agreement from Porter Freight Funding. Request a quote today to learn more!
What is Non-Recourse Factoring?
During non-recourse factoring for freight brokers, Porter Freight Funding will take on the risk of nonpayment if your customer declares bankruptcy or is insolvent. A non-recourse factoring agreement will protect your trucking company against unpaid debts and places the responsibility of repayment on the factoring company.
Since factoring companies take responsibility for the outstanding customer debts, they’ll typically charge a higher fee. If your trucking company has high-risk customers, you may wish to pursue non-recourse factoring services to protect against detrimental financial effects due to missed payments.
Benefits of Non-Recourse Factoring for Trucking Companies
In addition to removing liability from your business, non-recourse factoring companies offer many benefits for trucking businesses, such as:
- Same-day funding to immediately boost your company’s funds.
- A flat factoring fee is included in each transaction to maximize cash flow.
- Back office support to handle billing and collection issues.
- Free credit analysis on your customers.
How Does Non-Recourse Factoring Work?
If your trucking company chooses to participate in non-recourse invoice factoring, the factoring company will purchase your invoices for one flat rate. You’ll then receive payment minus a factoring fee. Once this transaction is complete, the factoring company will be responsible for collecting payment from the broker.
While recourse factoring does require companies to repurchase any unpaid invoices from their clients, if the freight broker is bankrupt or insolvent you will not have to repurchase the unpaid invoices.
Why Choose Porter Freight Funding for Non-Recourse Factoring?
Porter Freight Funding offers competitive non-recourse factoring options to help your company succeed. Benefits of choosing our services include the following:
- You’ll receive an Account Management Team that will be available for your questions and ensure we meet your needs.
- We’ll provide access to pre-approved brokers and shippers to help your company expand its earnings for greater success.
- You’ll receive access to our vetted network of compliance, insurance and dispatch partners.
- We pay you upfront so you can start investing your money back into your company as soon as possible.
Apply for a Factoring Quote From Porter Freight Funding Today!
Non-recourse factoring for trucking can help your company build and grow to achieve greater success. To learn more about our non-recourse factoring plans, complete our contact form to request a quote or contact us at 205-397-