Specialty Factoring

If you require hand surgery, you probably wouldn’t go to a foot specialist. So if you own a trucking business or a temporary help service, you probably wouldn’t choose a factoring company that specializes in construction receivables.

Your company’s survival depends on sound business decisions. A factoring company that knows your industry and your customers is better suited to make quick business decisions and provide the specialized services you want and need. Factoring companies that specialize in trucking, for example, have their own database of freight brokers’ payment histories. These specialized factoring companies can provide you with quick answers to important questions, like whether the broker you are about to accept a load from can pay your bill.

Factoring companies that specialize in transportation also understand how critical cash flow is. Driver and owner-operator settlements, diesel, insurance, permits, plates, tractor payments, trailer payments, and repairs all hit trucking companies with predictable frequency. Cash inflows, however, are less predictable. To better match cash inflows with cash outflows, consider a factoring company that specializes in quick funding turnaround.

At Interstate Capital, our clients submit a schedule of invoices online through e-Factor, using a secure user ID and password. The same evening, they provide us the invoice, bill of lading and load confirmation, either electronically or via overnight courier. The next morning, funding is processed and funds are disbursed electronically. Our clients may direct us to send their funds to their fuel card account, to their bank operating account, their payroll account or a combination of the above.

Interstate Capital also offers its customers an online credit inquiry system, which allows you to verify the credit credentials of freight brokers. Just provide the name and MC of the freight broker and the amount of the load, and within minutes, an answer will appear. This system is available exclusively to Interstate Capital’s trucking and transportation clients.

A good transportation factoring company should be able to save you money on the debt you can’t collect by providing sound credit guidance based on its experience with your customers. There are countless examples where our expertise in establishing prudent limits for freight brokers protected our clients from a loss that would have otherwise devastated the business. Catastrophic results can be avoided by following common sense credit underwriting criteria. Your factoring transportation specialist can help.

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