Trusted Factoring Company for Owner Operators
As the owner and operator of a trucking company, you may be familiar with the cash flow issues that arise when waiting for payment after a job. This financial insecurity can be stressful, especially when jobs and fleets are on the line.
Luckily, with factoring services from Porter Freight Funding, you’ll receive your payment within 24 hours after submitting your invoice for a reliable cash flow and greater financial success.
Call Now to Get Started
205.397.0934
Benefits of Freight Factoring for Owner Operators
Balancing budgets and avoiding debt can be a daunting challenge for many owner operators. When you choose a freight factoring service, you’ll have more time and attention to focus on making money and hauling high-earning loads. The many benefits of freight factoring for owner operators include:
- Get paid faster: Instead of waiting up to two months after completing your job to get paid, collect your payment quickly with freight factoring services from Porter Freight Funding.
- Avoid taking on debt: Fleet factoring is an alternative to taking out a bank loan and will help you keep debt to a minimum.
- Grow your business: With a factoring service, you’ll gain early access to payments to do with as you see fit and help to lay a foundation for future growth.
Factoring services also provide greater financial security for owner operators. Without a freight factoring company for truck drivers, you may never get your payment if a shipping company declares bankruptcy. Many factoring services offer non-recourse factoring so you’ll still collect your payment while the factoring company absorbs the credit risk.
Why Choose Porter Freight Funding?
Choosing owner-operator factoring services from Porter Freight Funding is a flexible solution that gives you greater control over your company’s finances. Additional benefits of our services include:
- Financial certainty: We’ll pay your invoice in full upfront and perform collections so you’re confident you’ll receive payment on time every time.
- Same-day transaction: Collect your payment within 24 hours or less after submitting your owner operator trucking invoice.
- Knowledgeable representatives: Trust our team to handle all of your owner-operator factoring questions and needs.
Apply for a Factoring Quote From Porter Freight Funding Today
Freight factoring can help your company receive payments faster, avoid inconsistencies and reduce your stress so you can spend more time focused on daily operations. At Porter Freight Funding, we simplify freight invoicing for owner-operators and help your business grow and thrive.
Apply for an owner operator truck factoring quote today or contact us at 205-397-0934 to learn more about our services.
Frequently Asked Questions
Have more questions? As the experts in freight funding, we have the answers. See if we can help you out in our FAQ below. Otherwise, reach out to us, and we’ll find an answer as quickly as possible.
Freight factoring lets you put money back in your pocket faster. Once you complete a job, you can sell your invoice to a truck factoring company for the entire invoice amount, minus a small processing fee. Then, the factoring company can collect the debt in their own time, while you move forward and invest your profits into building up your business.
Load factoring is one of the best decisions to make for your brand’s continued success. With a factoring agreement, you can be done with your invoices as soon as the job is over. Simply send the bill to us, and we’ll compensate you for it and take care of collecting the debt over the typical extended payment period.
While a factoring company partnership is not a requirement, it can make your job much easier. You likely started your brand because you’re passionate about transportation and getting things done on the road. Tracking down payments and invoices is one of many things that can keep you from doing the part of your job you love. When you work with a factoring company, you can take one more thing off your plate — and collect your funds sooner, to boot!
One of the greatest benefits of load factoring is that it’s achievable for companies that cannot receive a loan or other financing options from the bank. Because we’ll be collecting funds for you and not from you, we’re much more focused on the credit of your clients over yours. In the past, Porter Freight Funding has worked with many businesses that have bad or no credit and achieved success every time.
Companies of any size and age are welcome to apply for freight factoring. At Porter Freight Funding, we believe that every trucking company should be able to receive the money it’s owed as soon as possible. Small, new businesses often need more help than established brands to stay on top of bills, certifications and brand growth. Our freight factoring team is happy to help you start expanding your business right away and receiving the funds you need as soon as possible.