Freight Factoring & Fuel Cards
Cash flow is the lifeblood of a trucking company. We've partnered with OTR Solutions to help our clients get paid faster with freight factoring services built specifically for carriers.
Should I use factoring as a new carrier?
Factoring can be extremely beneficial for new carriers by helping improve your cash-flow as a new company. Factoring is an arrangement where you assign your invoices to a company who immediately pays you the invoice amount, minus a small percentage of the total invoice. Brokers and shippers can take weeks or months to pay an invoice, which means new carriers may struggle with keeping their operations running (like paying for fuel and insurance) if they're waiting to be paid on loads they've already completed. Factoring is particularly useful for new carriers or any carrier who is concerned with consistent cash-flow to keep their trucks on the road.
From the TIPS compliance FAQ.
True non-recourse factoring for carriers
Get paid any time, any day, including weekends and holidays. No cutoff times, no delays.
Factor as much or as little as you want. No monthly minimums means you stay in control of your cash flow.
Every client gets a dedicated, in-house account manager who knows your business. Real people, not voicemails.
Check broker credit 24/7 before you book a load. Know who you're working with and avoid non-payment headaches.
Bundle factoring with the OTR Fuel Card and save an average of $0.50 per gallon at over 8,000 locations nationwide, plus get a lower factoring rate.
Once OTR buys an approved invoice, the credit risk is theirs. If an approved broker doesn't pay, that's their problem to chase, not yours.
Money in, money out
Ready to stop waiting on brokers to pay?
There are agents available to answer your questions about factoring and fuel cards now. Click the button below to go to OTR's website and get started.
(208) 278-6722Questions for TIPS? Monday to Friday, 8am to 5pm EST