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Factoring For Freight Brokers

Factoring for Freight Brokers

Over 3,600+ clients funded
No up front fees to set up
No financial required
Funding in 3-5 days
We Pay Your Carriers On Time
Rates at
0.69% to 1.59%
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We Lend MORE Than The Bank

Factoring for Freight Brokers

We Pay Your Carriers On Time
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Invoice Factoring for Freight Brokers Can Help the Growth

Brokers act as intermediaries, putting together carriers with equipment and shippers with freight. Carriers need money right away, and shippers traditionally wait months before paying their shipping bills.

Very few freight factoring companies fund freight broker related receivables due to potential risk if the broker does not pay the carrier. Brokers act as commissioned agents, putting together carriers with equipment and shippers with freight needs. Carriers need money right away, and shippers traditionally wait months before paying their shipping bills.

The receivable payable to the freight broker by the shipper is recognized by transportation law as a trust fund pass through payment the belongs to the carrier of record.

Trucker and Freight Broker

At 1st Commercial Credit, we know that dependable carriers and satisfied shippers are the key to a successful freight brokerage. Our funding program will increase your business without debt and reduce internal overhead.

1st Commercial Credit has a designated platform for servicing freight brokers and payables to carriers in order to fund this transaction flow. If you are a freight broker that would be interested in this type of funding service please call us.

What Are The Requirements For A Freight Broker?

Freight Broker must be in business for a minimum of 6 months with recurring business to shippers.

Payables aging must be less than the accounts receivable aging.
Minimum of $50,000 a month in recurring business.
All permits and bonding must be active.
Active corporate status (No Sole Props).

Why Do Freight Brokerages Choose Us?

We know your industry. Any freight brokerage company can qualify for invoice factoring if it hauls for credit worthy shippers and has not pledged its accounts receivable as collateral.

We are flexible in approvals and make same day decisions.
Provide a Quick Pay option to carriers using our back office support.
We provide 15 Minute credit checks for new loads.
Build solid credit rating with freight brokerages and other credit bureaus.
Pay driver's directly out of factoring proceeds.
Pay carriers timely increasing carrier loyalty.
Convert freight bills to a credit line without having to borrow money.
Reduce the overhead associated with collections and payables.
Prevent bad debt with our credit analysis system.
Set up your account in 3 to 5 working days.
Quick credit checks for prospective customers.

What Is Freight Broker Factoring?

A freight broker can be a company or an individual who brings together a shipper with goods to transport with an authorized carrier looking to provide its services. In short, freight brokers help shippers find reliable carriers with whom to place their loads at a reasonable cost. A freight broker is considered a transportation intermediary and not a shipper or an asset-owning carrier who plays a crucial role in cargo movement. Brokers provide treasured services by helping carriers fill their trucks and earn commissions for their work. At the same time, they help shippers find trustworthy motor carriers that can sometimes be tricky to find. In some cases, brokers will coordinate all the shipping and transportation management needs of a company. As a freight broker, you will do a lot to help shippers place their load with reliable carriers at reasonable costs.

As an intermediary, sometimes waiting to receive payment from a client can significantly slow your company down. This situation will make payments to carriers challenging to fulfill, preventing you from taking on new loads. On a positive note, 1stCommercial Credit provides financial services and load factoring for all trucking industry-related businesses, allowing you to close the payment gaps and continue moving forward. Our freight broker factoring services make it possible to fund new placements without turning to high-interest business loans. Send your freight bills to 1st Commercial Credit so we can review your situation and send you fast cash today!

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:

accounts receivable loan company
  1. Allocate a load with a carrier.
  2. Send your freight bills to 1stCC after the carrier has delivered the load.
  3. 1stCC will deposit the funds within 24 hours or less.
  4. Pay your carriers right sway using our money.
  5. 1stCC will take care of obtaining payment from your customers
  6. 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.

Factoring Provides The Ultimate Financial Solution To Freight Brokers All Across the Nation

The process of factoring is not a loan. Instead of waiting 30,60, or even 90 days, your company will get paid “earlier” for services/products that it has already provided. Unlike traditional banks that sometimes can take a long time for processing and approval, funding with 1st Commercial Credit will provide funding in 24 hours or less. Even businesses with low or bad credit or just starting can receive financing.

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If your company has been turned down in the past for other types of funding, freight factoring is the answer. Invoice factoring is a flexible and attainable financing option for business owners. You can use factoring for a short-term financing need or continue for a more extended period.

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