5 Tips to remember while choosing Freight Factoring Company

1
5 Tips While Choosing a Freight Factoring Company
By truckingreceivables.com
2

• When deciding on a factoring company, its
  important to remember not all factoring
  companies are alike. Always choose company that
  understands your business.
• To help you, weve pulled together 5 tips to
  consider when choosing a factoring company

3
Flexibility

• Some factoring companies require a minimum
  number of invoices. So always Be sure to ask
  about this upfront. Its best to choose a
  factoring company that allows flexibility so you
  can pick and choose the invoices you want to
  factor.

4
Industry Knowledge

• Its important to choose a freight factoring
  company that understands your demands. Does a
  nearby or national Trucking Association embrace
  your calculating organization? Your calculating
  organization should know the ins and outs of your
  business and must offer adaptable results.

5
Fuel Cards

• Fuel is the most expensive in trucking and
  your factoring company should provide you with a
  FREE fuel card. You should always Choose a
  factoring company that has a fuel card so you can
  save every time you fill up.

6
Customer Service

• Its good to choose a factoring company that
  provides 24 hour online account access so you can
  see exactly where your funds are. If a factoring
  company dont provide online access to your
  account, then they are lacking in supporting you.
  Ask them how you can access your account.

7
Recourse vs. Non Recourse

• Here are two major types of accounts Recourse
  and Non-recourse.
• Factoring with recourse means the client must
  buy back an invoice from the factoring company.
• Non-recourse factoring means the factoring
  company incurs all the risk for non-payment of an
  invoice

8
(No Transcript)