We Deliver The FUNDS
Need A Trucking Factoring Company?
Custom Rates available for Fleets over $100,000 per month
- What Is A Non-recourse Factoring Company For Trucking Companies?
- How Invoice Factoring Works For Small and Large Trucking Businesses
- Freight Factoring Benefits For Carriers
- Instant Source of Funding For Reefer Haulers Trucking
- Which Trucking Companies Need Non-recourse Factoring?
- Fuel Card for Truckers: Extra Discount For Fleets
- How To Receive Trucking Factoring?
- Why do trucking companies choose us?
- Freight Factoring Cost (Rates and Fees)
- FAQs
What Is A Non-recourse Factoring Company For Trucking Companies?
Non-recourse factoring provides truckers with a safeguard against non-payment by freight brokers. 1st Commercial Credit monitors the credit of all freight brokers it finances and assumes the financial risk if a broker fails to pay due to insolvency.
1st Commercial Credit is a non-recourse factoring company that services all transportation-related industries in the USA. Processing the freight bills and load confirmations has never been easier. Our clients simply upload their documents and we generate the invoice, fund our client and process the documents for collection to the freight broker.
Rates from 1.5% to 2.5%
How Invoice Factoring Works For Small and Large Trucking Businesses?
Invoice factoring can immediately give your trucking company the push it needs to grow. This is not a loan, so there is nothing to pay back. We simply take your documents for a completed load and fund you 100% (No Reserves) minus a fee of 1.5% to 3%, depending on the size of your company.
Trucking companies face significant expenses such as truck payments, payroll, fuel, insurance, maintenance, and taxes. To thrive, these businesses need a consistent cash flow to cover daily costs and support growth. However, managing day-to-day operations while waiting 30, 60, or even 90 days for payment for completed loads is often impractical. Invoice factoring addresses this challenge by converting invoices for completed loads into immediate cash deposited into your bank account, thus eliminating the wait for payment. The reliability of cash flow from invoice factoring surpasses even the quick-pay programs offered by freight brokers, as provided by 1st Commercial Credit.
Freight invoice and load factoring offer ideal financial solutions for fleet owners of all sizes, owner-operators, and brokers. These parties can sell their outstanding invoices to a factoring company at a slight discount, eliminating the need to wait weeks for payment and assuming credit risk.
Invoice factoring has emerged as a staple service in the trucking industry, making it unnecessary to take out loans. Given the narrow profit margins in the trucking sector, invoice factoring helps avoid the need for costly Merchant Cash Advance (MCA) Loans.
Receivables financing has become a primary financial option for freight and trucking companies to gain immediate access to working capital. Freight factoring companies give you up to 97% of your unpaid invoices within 24 hours and take care of daily collections required. No more turning down contracts. A non-recourse factoring agreement can significantly enhance the financial stability of your trucking company, ensuring that your operations continue smoothly and supporting your business growth every day.
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Freight Factoring Benefits For Carriers
Factoring receivables will allow your company to improve its cash flow and grow your trucking business. Three types of trucking businesses that can benefit from our freight factoring are fleet owners, owner-operators, and brokers. Some of the key benefits of trucking invoice factoring include:
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Immediate cash flow
Free credit checks on clients
Savings on fuel
Free access to a team of billing and collection experts
Fuel advance
Increased sales and contracts
No new debt is created
Simple, fast approval process
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Instant Source of Funding For Reefer Haulers Trucking
Reefer trailers are one of the most cost-intensive vehicles for shipping and transportation. Therefore, they need a consistent and reliable source of financing.
1st Commercial Credit is proud to support the unique needs of reefer trucking companies with our adaptable and flexible services. With over 20 years of experience, we understand the critical role that efficient cash flow plays in the success of your business.
We offer one of the quickest processes for application, approval, and documentation in the industry, tailored specifically for reefer trucking operations. Recognizing that reefer trucking requires more fuel than standard trucking, we provide fuel advances to ensure your refrigerated equipment always has the necessary resources to stay operational. This is crucial, especially when cash flow is constrained, to maintain uninterrupted operations during trips.
A company that factors the trucking industry like 1st Commercial Credit makes freight factoring for reefer haulers easy when it comes to setting up. Our main priority is to give you access to funding as soon as possible so you can carry on with running a successful business.
Which Trucking Companies Need Non-recourse Factoring?
There is no reason a trucking company should be on a recourse factoring agreement taking on additional risk. Non-Recourse factoring in the trucking industry is vital. 1st Commercial Credit takes on the credit risk for clients.
A small trucking fleet faces challenges that are unique and cannot be solved using a cookie-cutter approach. We understand these challenges and are able to create unique solutions to help the trucking company out. Credit Cards are available for approved trucking clients along with temporary loans for permits, insurance and equipment can be accomodated.
1st Commercial Credit has been involved in freight factoring for its entire history and has a comprehensive understanding of what it takes to keep the rigs on the road and the freight moving from the loading dock to the customer destination.
The issues for a small trucking fleet are recurring and often costly. Maintenance to vehicles, permits and renting special equipments are just some of the ongoing costs that require funding in a regular basis.
Rates from 1.5% at 3%
Fuel Card for Truckers: Extra Discount For Fleets
1st Commercial Credit continues to innovate and come up with the best financing alternatives to better serve all trucking and transportation-related industries in the USA.
Our fuel card program offers competitive rates and deals so that truckers can continue moving the load to the destination. Many benefits come with using a fuel card over cash or a credit card, but the most significant benefit for truck drivers is receiving fuel discounts. Owner-operators and truck drivers are in charge of fuel purchases, and saving money on fuel should be a top priority.
1st Commercial Credit's mission is to help small to medium-sized trucking companies and larger fleets all across the nation. Our goal is for each client, regardless of the size of their fleet, to thrive while enjoying exceptional customer service and the best savings possible with our Fuel Card Program for Trucking Companies.
Our fuel card program offers competitive rates and deals so that truckers can continue moving the load to the destination. Many benefits come with using a fuel card over cash or a credit card, but the most significant benefit for truck drivers is receiving fuel discounts. Owner-operators and truck drivers are in charge of fuel purchases, and saving money on fuel should be a top priority.
1st Commercial Credit's mission is to help small to medium-sized trucking companies and larger fleets all across the nation. Our goal is for each client, regardless of the size of their fleet, to thrive while enjoying exceptional customer service and the best savings possible with our Fuel Card Program for Trucking Companies.
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Save Up to
$500 a Month On fuel
How To Receive Trucking Factoring?
Trucking factoring is a financial service that allows trucking companies to receive immediate cash for their freight invoices (load documents). This is not a loan, and the application is simple. We require completed loads for funding, we create the invoice and fund your trucking company. Here's how to receive trucking factoring:
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Why do trucking companies choose us?
Cash flow is the lifeline of any trucking company. With 1st Commercial Credit, trucking businesses can convert unpaid freight invoices into immediate working capital. Once a load is delivered and the documents are submitted, funding can often be deposited into your account within 24 hours, helping cover expenses like fuel, payroll, maintenance, and insurance without delay.
Non-Recourse Factoring for Added Protection
Unlike many factoring providers, 1st Commercial Credit offers non-recourse factoring, which means your company is protected if a freight broker fails to pay due to insolvency. This shifts the credit risk away from your trucking business and provides peace of mind when working with new brokers or customers.
Fuel Advances and Cost-Saving Programs
Fuel is one of the largest operating expenses for trucking companies. 1st Commercial Credit helps reduce that burden with fuel advances of up to 50% of the load value and access to fuel card programs offering discounts at thousands of stations across the United States. These savings can significantly improve profit margins and keep trucks moving efficiently.
Rates from 1.5% at 3%
Freight Factoring Cost (Rates and Fees)
When considering factoring for trucking companies, the fees are determined by the volume you plan to factor and the duration it takes for your customers to make payments. Increasing the volume of factoring and encouraging faster customer payments typically result in reduced factoring rates.
We also take into account other factors such as the duration of your business operations, the diversity of your customer base, and the overall creditworthiness of your customers.
At 1st Commercial Credit, here are freight factoring rates and fees:
- Full Advance Fees at 1.5% to 3.0%
FAQ About Trucking Companies and Factoring
Fuel expenses can be a significant portion of a trucking company's operating costs. Fluctuations in fuel prices can directly impact cash flow, especially if contracts or pricing agreements don't adjust immediately. Transportation and trucking business owners are looking to improve the management of fuel purchases, and fuel cards are a helpful tool for trucking companies of all sizes and stages, from a single operator with one truck, an owner of a mid-sized fleet, or a large trucking company.
Trucks require regular maintenance to keep them operational and safe. Unexpected breakdowns or major repairs can strain cash flow if not adequately planned for.
Purchasing or leasing trucks and trailers represents a significant upfront cost for trucking companies. Financing these purchases or paying lease payments can affect cash flow, especially if revenue streams fluctuate.
To manage tire expenses and their impact on cash flow, trucking companies often employ proactive measures such as registering to tire programs, investing in quality tires designed for durability and fuel efficiency.
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