#BEST INVOICE FACTORING PLUS#

No fees or penalties for smaller volumes.Mobile app available to help you manage your invoices.Minimum Revenue Threshold: $150,000 per monthĪdvance Rate: Up to 97% of the invoice valueĭiscount Rate: Inquire with RTS Financial for details One such perk is managing your financial loans in one place because RTS offers equipment leasing programs alongside invoice factoring and fuel cards. That means that you’ll get special perks and benefits that fit your business and your unique needs. RTS Financial is another organization that specializes in the trucking industry. Application requires a hard credit pullīest For: Invoice Factoring Along With Other Freight Industry Services.

#BEST INVOICE FACTORING PLUS#

$300 origination fee plus factoring fee.A lower credit score means less favorable rates.Option to factor some or all of your invoices.Recourse and non-recourse factoring available.The company specializes in invoice factoring.Maximum Funding: Up to 100% of the invoice valueįunding Release Speed: Same day funding is available Minimum Revenue Threshold: $100,000 per month You can run and view reports and check on the status of your invoices. Triumph Business Capital offers an outstanding online portal so you can view and manage your invoices digitally. Customers have to deal with customer service agents.Loan amounts and rates not provided upfront.Minimum Revenue Threshold: No minimum qualificationsįunding Release Speed: Same-day or as little as 1 hour In addition, TAFS has strategic industry partnerships helping overall client success and reducing operating costs. They’re open 365 days a year and even open until midnight on weekdays. Specializing in commercial trucking factoring, TAFS has the experience and knowledge to provide truckers top-notch factoring and financing options. Allow these factoring companies to handle your invoicing for you. Best For Small Businesses With Limited Annual Revenue: eCapitalĮnsure steady cash flow for your business while eliminating the need for following up with customers when they delay payments or fail to pay.Best For Invoice Factoring: RTS Financial.Best For Digital Invoice Management: Triumph Business Capital.After a set amount of time-dependent upon your contract terms – a factor may recourse the invoice back to you, but they’ll typically provide you with options to help cover the costs.īelow, we’ve shared a list of trusted factoring companies who has their drivers’ best interest in mind. No matter the type of account, a good factor company will put in a diligent effort to ensure your invoices are collected. Schedule a time with them to discuss their non-recourse factoring options and what obligations you will have. It’s important to realize that all factoring companies recourse as part of their contractual obligations and at some point in time you will be recoursed.ĭrivers, especially new ones who are just starting out, should take the time to understand the factoring companies terms. Understanding the terms of your contract will be paramount. That is why it’s important to understand and review every factoring contract to determine liability and what portion is yours to hold for each invoice you factor. The likelihood of not having to repay your invoices in a situation like this is slim. Although this may sound like the safest option, there’s always small print to read. The term non-recourse factoring is used when an invoice factoring company claims to assume the majority of the risk associated with nonpayment for invoices that your clients are overdue on. Get Started What Does “Non-Recourse” Factoring Really Mean?

Best invoice factoring