We Make Freight Factoring A Simple Process
Freight broker companies no longer have to wait 90 days or more for payments. They can use the funding services offered by freight factoring companies and cover business costs and pay carriers. Truck factoring services involve a factor that buys a company’s unpaid freight bills in exchange for an advance of up to 98% (depending on the industry) in 24 hours or less. The factoring company will then collect payment directly from your customers while running the business as usual.
Our funding process is simple and gets you the quick cash needed to run a successful enterprise. The financing process with invoice factoring is as follows:
Allocate a load with a carrier.
Send your freight bills to 1stCC after the carrier has delivered the load.
1stCC will deposit the funds within 24 hours or less.
Pay your carriers right sway using our money.
1stCC will take care of obtaining payment from your customers
The remaining freight bill amount will be sent to your business account after deducting a small factoring fee.
1st Commercial Credit’s Freight Factoring Services Offer Many Advantages
We are an experienced financing company offering several financial solutions to businesses, including accounts receivable financing. Some of these advantages include:
Having unlimited funding potential — trucking factoring offers a flexible solution that can always be adjusted to the growth of your business. Freight factoring uses the freight bills you submit, and as your business grows, so do your funding possibilities.
No minimum requirements — working with 1st Commercial Credit is a flexible and convenient financial solution because we do not have a minimum or maximum amount to be factored in.
Electronic submission and online reporting - we make the submission of freight bills a fast and straightforward process that is done electronically. You will also have access to our online reporting portal 24/7. You will have access to collections status, recent transactions, and other crucial information.
Discount negotiations with carriers — by receiving the funds in 24 hours, you will be able to pay carriers immediately, which will also mean you can be eligible for lower rates.
Free administrative support — 1st Commercial Credit’s specialized team will provide complimentary back-office services such as collections and credit checks to ensure clients will make payments.