Freight Factoring for Owner Operators: Expert Setup Assistance
Waiting for freight payments for 30 to 60 days as an owner operator can be frustrating. It strains cash flow and slows down the business.
Our freight factoring assistance service provides fast, reliable factoring setup with trusted factoring companies, so you can cover fuel costs, maintenance, and other expenses without delays.
We offer flexible, hassle-free factoring setup solutions for carriers and owner operators of small fleets that are tailored to your needs. Once you get set up, same-day funding, no hidden fees, and credit checks on brokers help you stay financially secure.
With our truck dispatch service and factoring assistant service, you can focus on the road and let us handle your invoices and dispatch.
What’s Included in Our Freight Factoring Assistant Service
At Max Dispatch Service, we help truckers simplify the factoring process. We ensure accurate invoice submissions, handling paperwork, and tracking payments. So you get paid faster without the hassle.
- Selecting a reliable factoring partner
- Finding a factoring company tailored to your needs
- Help with submitting invoices to your factoring company
- Ensuring accurate and complete paperwork for faster approvals
- Tracking payments and following up on delayed payouts
- Verifying brokers and shippers for quick funding eligibility
- Assisting with resolving disputes or payment issues
Reasons to Choose Our Freight Factoring Experts
We have been in the freight and logistics industry for more than five years. This experience gave us exposure to many factoring companies and helped us build a skilled team to provide seamless factoring assistance.
- Experienced team familiar with top factoring companies
- Hassle-free invoice submission process
- Fast response times to ensure smooth cash flow
- Dedicated support to resolve any factoring-related issues
- No hidden fees or commitments
Key Benefits of Partnering with Us
Although there are many benefits you get when you set up with a factoring company, below are a few that everyone wants:
- Get paid faster by avoiding invoice mistakes
- Reduce administrative work and focus on hauling loads
- Avoid delays caused by incorrect or missing paperwork
- Secure reliable cash flow without chasing payments
- Work with trusted brokers and shippers
Who Can Benefit from Our Freight Factoring Assistant Service
Our factoring assistant service is not for everyone. But if you are a passionate carrier and want to grow your business, we’ll assist you in every step you take to do something bigger.
- Owner-operators looking for consistent cash flow
- Small trucking companies managing multiple invoices
- New carriers unfamiliar with factoring processes
- Fleets wanting to streamline payment tracking
- Drivers tired of dealing with invoice errors and delays
Frequently Asked Questions
Ask us anything
What is factoring?
Factoring is a financial service that helps truckers and carriers get paid quickly by selling their unpaid freight invoices to a factoring company. Brokers or shippers pay after 30 to 90 days, so factoring companies provide payments in advance (typically 80-95% of the invoice amount) within 24-48 hours.
Is factoring essential for every carrier?
No, factoring is not mandatory, but it is highly beneficial for carriers who need fast access to cash. If you have strong financial reserves and can wait for broker payments, you may not need factoring.
How does factoring work?
- The carrier delivers a load and submits the invoice to the factoring company.
- The factoring company verifies the invoice and pays the invoice in advance a percentage of the total (usually 80-95%).
- The broker or shipper pays the factoring company after the agreed-upon period (30-90 days).
- Once the payment is received, the factoring company deducts their fee and releases the remaining balance to the carrier.
Is freight factoring worth it?
Yes, for many trucking businesses, freight factoring is a valuable tool. It improves cash flow, covers fuel costs, and maintains operations without financial strain.
What is the average freight factoring fee?
The average freight factoring fee is 1% to 3% of the invoice amount. Factoring companies charge it upfront when you apply for the payment process. But it allows you to start receiving funds quickly.
Do you need good credit for a factoring company?
No, most factoring companies do not require good personal credit from the carrier. Instead, they evaluate the creditworthiness of brokers and shippers. Because they are responsible for paying the invoices.
How do you help carriers in the setup of factoring?
We have built strong relations with factoring companies so carriers do not need to find them and check their credibility. We help carriers set up with a factoring company with low fees, no hidden charges, and flexible terms to make it truly beneficial.
What other services do you provide besides factoring?
Whether you have a dry van, power-only, step deck, box truck, or hot shot, we’ll provide you with high-paying loads with rate negotiation, paperwork handling, and more.
Check Out Our Truck dispatch Service
If you’re struggling to find profitable loads for your dry van, step deck, reefer, box truck, flatbed, hot shot or power only, our dispatch service is for you. We also provide dedicated loads, local loads, and high rate per mile spot market loads.
Our priority is not just providing you load options that you can find on load boards or other dispatch companies. We focus on increasing your weekly gross but with peace of mind.
That’s why we negotiate with brokers regarding rates, TONU, layover, detention, and load confirmation. We also handle paperwork and provide route optimization to streamline your operations.