Freight factoring (also known as transportation invoice factoring) helps transportation companies of all sizes, from owner-operators to small fleets of up to 50 trucks, alleviate cash flow challenges, help grow their business, and save them time and money. With Tetra Capital’s freight factoring services you get paid immediately once you deliver the load, eliminating the need to wait 30 or 60+ days. This will give you the cash flow you need to cover all your business expenses and keep you on the road including:
- Repairs (both routine and emergency)
- And more
Benefits of freight factoring with Tetra Capital
- No hidden or extra fees including no Documentation Fee, Application Fee, ACH/Direct Deposit Fee, Filing Fee, Due Diligence Fee, Administration Fee and Termination Fee.
- Fuel cards to help you save money.
- FREE credit checks on your new customers, so you can know who you are working with.
- Enrollment in Truckers B2B, giving you discounts on tires, maintenance, technology, hotels and more.
- You don’t have to factor every load.
- No long-term contracts.
- With collection rates 2-3 days faster than the industry average, we have been able to save our clients money.
- We handle invoicing, processing, postage, collecting and more.
- We fund on scanned or faxed copies and don’t require you to overnight hard copies.
- Fuel advances.
- Get set-up in less than 5 days.
- Access to our online system to check the status of your invoices and help speed up the collection times.
How does freight factoring work for a trucking company like yours?
With freight factoring all you have to do is deliver the load, submit the paperwork to us and we will get you the funds within hours and we will handle all the invoicing, processing and collecting on all your receivables/loads. We then wait to get paid by your customer and once we do we will submit the balance of the funds minus our fee to you. It is quick, easy and with no hidden or unexpected fees you know what to expect from us every time you use our freight factoring services.