: $5–$15 for ACH or $20–$50 for same-day wires. Termination Fees : $500–$5,000+ for early contract exit. Pros and Cons
Freight bill factoring is a financial service where trucking companies sell their unpaid invoices to a third-party "factor" to receive immediate cash, typically within , instead of waiting 30–90 days for customer payment . The Factoring Process FREIGHT BILL FACTORING
: The factor verifies the load and advances 80%–95% (sometimes up to 100%) of the invoice value. : $5–$15 for ACH or $20–$50 for same-day wires
: Fees vary based on your monthly volume, customer creditworthiness, and whether the agreement is "Recourse" or "Non-Recourse". Common Extra Fees : Setup Fees : $0–$500. The Factoring Process : The factor verifies the
: The factor collects full payment from the broker/shipper, then releases the remaining balance (the "reserve") to you, minus their fee. Cost Breakdown Factoring Rates : Usually 1.5% to 5% per invoice.
: Send the invoice and BOL to the factoring company via their portal or app.
: Complete the haul and get a signed Bill of Lading (BOL).
