Freight Broker Factoring

How does freight broker factoring work?

By speeding up their cash flow through factoring at a freight factoring company such as Interstate Capital, thousands of freight brokers have doubled and tripled in size and revenue, and grown even further.

Here’s how it works:
Let’s say a freight broker agrees to haul five loads of oranges from a farm in California to a grocer in the Midwest. The broker contracts with a trucking company with a fleet of temperature-controlled trucks for the job.

The loads are delivered July 1, but the farm negotiated 60-day payment terms and won’t be paying the broker until September. The freight broker factors the farm’s invoice and sends the factoring company the paperwork verifying the deliveries, including copies of the invoice, signed bills of lading, rate confirmations, and any additional charges.

The factoring company then pays the motor carriers out of its own funds, so the freight broker doesn’t have to process payments to carriers out of their own bank account. Some companies that specialize in freight bill funding, such as Interstate Capital, go further and offer fuel advances with an advance on the invoice as soon as the carrier’s truck is loaded. Interstate Capital typically pays up to 90% of a broker’s invoice by wire transfer or direct deposit within two hours of delivery.

The freight broker receives the remaining 10%, minus a small factoring fee, after the shipper pays. The freight broker can use that advance to cover bills, invest in new technology, hire another sales rep, or spend whatever is needed to sign on more customers and increase profitability.

What is factoring?

Factoring is a very popular form of financing throughout the logistics industry because it is a great fit for the typical freight broker’s business model.

Essentially, factoring pays you upfront for delivered loads. The factoring company advances you the value of your invoice, minus a small factoring fee, so you don’t have to wait 30, 60 or even 90 days for customers to pay. The advance lets you pay your motor carriers and cover other bills in a timely manner.

When a factoring company “purchases” your invoices, they will take the following steps:

The factoring company:

  1. Pays your motor carriers directly following your instructions of when and how much to pay
  2. Collects on invoices from your customers
  3. Pays you the rest of the invoice value after your customer pays the full invoice amount

Easy and Fast Application Process

applying for factoringFreight brokers find that getting approved for factoring is much faster and easier than getting approved for a bank loan. Even if you or your company have been turned down by lenders in the past based on a lack of collateral or a poor credit history, you can get set up with a factoring company right away.

No collateral? No problem

Well-established factoring companies don’t require that you put up personal property to guarantee a loan. A factoring advance is not a loan and it does not need to be secured by assets.

No credit history? No problem

Factoring companies review your application on the creditworthiness of your customers, not your company’s age or payment history. Factoring professionals ask questions such as “Has this shipper defaulted on payments to other freight brokers?” or “How long does this customer wait to pay for loads that have been delivered?” A good factoring company will have in-house credit professionals to evaluate your customers’ ability to pay, rather than your financial background.

No time? No problem

When you are pressed for time with significant financial needs, you don’t have weeks to wait for your loan to get approved at a bank. At Interstate Capital, you can get started within a day or two of submitting the necessary paperwork. Your first advance from the factoring company could be deposited in your bank account the day after you submit your business documentation and submit your first invoices.

The Benefits of Freight Broker Factoring

Benefits of Freight Broker FactoringIf your motor carriers deliver your loads on schedule, but you don’t get paid for a month or two or even longer, how can you keep up with paying carriers and other expenses? Freight brokers face competing demands daily. On one side, you have commercial shippers that want long payment terms and on the other hand, you have motor carriers that payment now. You get stuck in the middle of a cash flow imbalance.

The main benefit of factoring is that it closes that gap between paying carriers and receiving payments for loads. However, resolving this cash flow challenge is not the only benefit. Here are the top benefits for freight brokers that factor their invoices:

Here are some of the top benefits for freight brokers that factor their invoices:

1. Fuel advances for your carriers from the factoring company
2. Quick pay carriers with the factoring company’s money, not yours
3. Easy process for brokers to set and charge quick pay discounts
4. Collections team to contact your customers for payment, so you don’t have to
5. Professional credit checks on shippers to protect you against loss
6. Improved credit with the on-time payments to carriers
7. Maintain complete control of your finances and improve your financial planning
8. Choice of funding methods for you and your carriers
9. Broker bonds program
10. Payment guarantees for your motor carriers

How can you tell when your company needs factoring?

You have a long list of slow-paying customers

It’s not uncommon to wait 30, 60 or 90 days for shippers to pay, but this turnaround time puts pressure on any brokerage. When you partner with a factoring company, your drivers get paid fast with the factoring company’s money and you receive a partial payment after you submit your invoice, bill of lading, rate confirmation and proof of delivery.

Your business is taking on debt to cover expenses

Bank loans take time and add debt to your business. Small business loans may be fast, but can incur costly fees: those high interest rates will cut deep into any potential profit margin. Factoring your invoices lets you cover expenses, without incurring debt or paying high borrowing costs. Borrowing money, whether it’s from a bank, an online lender, or even a family member or friend, means you are saddled with a debt that must be paid off. The reality of waking up every day to another new payment due can add stress to any business owner’s plans.

You have customers requiring payment flexibility

If you have shippers with long payment cycles, factoring allows you to give them this type of flexibility without affecting your bottomline or cash flow. This means you can take on new clients and your business can grow.

Slow-paying clients are stopping you from growing

Instant access to cash means that you have the funds you need to invest in your business. If you want to offer fuel advances and quick pay options to carriers, hire a new salesperson to bring in more business or upgrade your technology, you will need money in hand to achieve your goals. Factoring companies can put you in the financial position to grow your company.

You own a start-up business

Factoring works great if you are starting up your company. If your brokerage hasn’t built up the collateral and credit record that you need to get a line of credit, then factoring is a solid and affordable alternative for you. Factoring companies can approve you based on your customers’ creditworthiness, not your payment history or financial status.

You’re spending too much time on collections and invoicing

As your business grows, you can spend a significant amount of time processing invoices and following up on outstanding payments. This is time that you can use more productively. If you’ve hired someone to handle debt collections or you are currently doing this yourself, save money and time by partnering with a factoring company to take care of this chore.

Factoring Questions

Common Questions about Factoring

Who uses invoice factoring?

In the past, some people thought that only start-up brokers or those with financial troubles factored their invoices. However, today, brokerages in business for decades want to factor to keep up with paying carrier, insurance, and other operating costs. Many freight brokers who factor their invoices are extremely successful and use the reliable cash flow to fuel their growth. The benefits of upfront payment on their invoices appeal to all business owners, not just companies with financial challenges.

Does my factoring fee represent a good value?

When you factor, you can provide your carriers with fuel advances and quick pay options without using your own funds – all for a fee that may be lower than you may think. Compared to online lenders’ loan interest rates, factoring fees are lower and provide services that bring considerable value, such as letting the factoring company manage collections and carrier payments.

Is factoring like a loan?

Factoring companies are not like banks or online lenders. They do not lend you money that you must pay back out of unknown future revenue. Instead you are paid an advance for work that has already been completed. Factoring does not incur debt that will be removed from your bank account or charged to your credit card.

Will factoring affect my customer relationships?

No. Your shippers are already working with freight brokers and motor carriers that factor their freight bills. The main change in your relationships would be that customers’ bookkeepers will update your payment submission mailing address. When your customers know you are working with a factoring company, they know you have the financial resources to keep good drivers and keep your doors open. They know you have the working capital to take on more loads for them.

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What is a Factoring Agreement?

When you sign up with a factoring company, you will sign a factoring agreement that outlines what you can expect from your factoring company and what they can expect from you. Agreement specifics vary, but all general invoice factoring agreements should outline the process, each party’s responsibilities, and the fees. You can expect the following in a factoring agreement:

  • A statement that the client confirms they will “sell, transfer, convey, and assign” selected invoices to the factoring firm
  • An agreement that the client will provide accurate and true financial information at all times
  • A description of the Notice of Assignment process that tells the client’s customers to send in their payments to the factoring firm rather than to the client
  • A commitment for the factoring firm to provide continually updated reports on invoices they have purchased, payments sent and received and other information
  • A description of steps taken to secure payment of any indebtedness that is due to the factoring firm in the event of default or insolvency
  • A fee schedule that specifies the factoring percentage rate and the advance rate
  • A time limit for the agreement

Estimate the Cost of Factoring

If you ask an invoice factoring company for a factoring rate quote, be prepared to answer two questions that determine how much you will pay for factoring. Your factoring rate depends on your factoring volume (how much you plan to factor) and payment terms (how long your customers take to pay their bills).

1. Decide which freight bill invoices you’ll factor.

Decide which invoices you’ll factor. Some factoring companies require you to factor all invoices; other companies, like Interstate Capital, allow you to pick the invoices to factor. Typically, the higher the dollar figure you expect to factor, the lower the factoring rate. If your factoring volume is low, your factoring rate could be higher.

2. Estimate your customers’ average days to pay (“DTP”).

In some cases, even though your agreed-upon payment terms might be a standard 30 days, some customers may typically take longer and you may need to estimate 40 DTP. If you give your customers extended credit terms, like Net 45 or 60, your average DTP is going to be higher.

For example, imagine that you expect to factor $100,000 per month and your customers pay, on average, in 40 days. If your factoring rate is 2%, your monthly cost of factoring could be $2,000. However, some factoring companies advertise an unusually low factoring rate – and then add on “hidden” fees for extra services or even the basics.

Look beyond the advertised rate and read the fine print to discover any fees that could increase your actual factoring costs.

How a Factoring Rate is Calculated

calculating factoringThe factoring rate is stated as a discount, usually based on the volume of the invoices you wish to factor. Factoring rates can start as low as .49% of the invoice amount, and go higher depending on certain variables. Factoring rates are quoted as a percentage of the invoice amount, rather than an annual percentage rate.

Since the factoring is not a loan product, and rates are usually fixed, an annual percentage rate cannot be determined when rates are set. Also, unlike an interest rate on a loan, factoring rates can include lots of value-added benefits such as back-office credit and collections services, free fuel discount cards, and organization and storage of documents on easy-to-use online client websites.

How invoice factoring can improve your relationships with shippers and motor carriers

If you have reserves of working capital, you can pay your carriers immediately and simply wait for your clients to pay in a month or two. If you don’t have deep pockets or your freight business is growing quickly, you may not be able to pay promptly and you can hurt your relationships with motor carriers. Factoring with a strong factoring company like Interstate Capital resolves the freight broker’s goal to keep carriers happy, but it also improves your relationship with your commercial shippers.

Here’s how factoring can improve your customer relationships:

Take on more loads

When you partner with a factoring company, you are able to retain good motor carriers in your network with the ability to pay them promptly and offer them fuel advances. With a stronger network of loyal carriers, you can take on more loads. In addition, your customers know that you have the capacity and the financial stability to work with them in the future.

Remove yourself from the collection process

A top-tier factoring company will take your collections headaches off your list of chores. For instance, Interstate Capital’s team of highly experienced collections professionals stays in contact with your customers even before payment is due to ensure there are no obstacles or missing paperwork that would delay payment. They do all the calling and administration involved with receiving payments so you don’t have to keep asking for payment at the same time you are calling to ask for more business. This separation of collections and sales creates smoother relationships with your shippers.

A top-tier factoring company will take your collections headaches off your list of chores. For instance, Interstate Capital’s team of highly experienced collections professionals stays in contact with your customers even before payment is due to ensure there are no obstacles or missing paperwork that would delay payment. They do all the calling and administration involved with receiving payments so you don’t have to keep asking for payment at the same time you are calling to ask for more business. This separation of collections and sales creates smoother relationships with your shippers.

Work with creditworthy customers

Full-service factoring companies review the credit quality of your new and existing customers and red-flag those customers with questionable payment histories. Customer relationships can quickly turn sour when they don’t pay your invoices on time or turn out to have credit problems of their own.

Full-service factoring companies review the credit quality of your new and existing customers and red-flag those customers with questionable payment histories. Customer relationships can quickly turn sour when they don’t pay your invoices on time or turn out to have credit problems of their own.

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How Does Factoring Help Freight Brokers Reduce Risk?

reduce cash flow riskMany freight brokers turn to invoice factoring to receive funds upfront and to provide quick pay options for motor carriers. However, factoring also helps benefits your company by protecting it from potential loss and missed opportunities.

Bad credit risks

Shippers come and shippers go — and brokerages get hurt when customers go out of business. A factoring company helps protect you against getting stuck with unpaid loads. Top-tier factoring companies employ in-house credit experts who take a proactive approach to checking your potential customers’ payment histories and prospects. Your factoring company will red-flag potential shippers who don’t meet minimum credit requirements and will advise you of these risky customers before it’s too late.

Missed opportunities with slow-paying clients

When freight brokers have to wait for customers to pay, they face the risk of their business coming to a standstill. Factoring keeps their freight moving. It also lets brokers take advantage of profitable opportunities, such as working with larger customers with longer payment terms. The costs of missed opportunities and the risks for business slow-downs can hurt any freight brokerage.

Credit history problems

A poor credit history will hinder your ability to hire motor carriers – a serious concern in this era of driver shortages. Factoring your invoices improves your credit score because your motor carriers will always be paid promptly by the factoring company. The ability to pay carriers on time without tying up your own funds is not only a load off your plate, but also a chance to improve your reputation in the industry as a reliable customer that pays on time.

Risks associated with traditional loans

Compared to factoring, traditional bank loans bring their own risks, including the length of time for approval and funding. If you are in a hurry and timing is critical, you can qualify quickly at a factoring company and receive your first advance funds fast. In addition, startups are warmly welcomed at top-tier factoring companies, unlike the reception they receive at banks. Lastly, loans carry the risk of the borrower not being able to pay it off and having to forfeit the property or other collateral that guaranteed the loan.

How Can You Choose a Factoring Company?

When you’re ready to factor your invoices and enjoy the benefits that come with increased working capital and financial stability, remember “The Five Es” as you make your choice:

Exceptional customer service:

Your satisfaction will be dependent upon how fast your funding requests are fulfilled. You want excellent customer service from an account manager who is friendly, professional and eager to help and who serves as your personal single point of contact instead of transferring you from place to place.

Extra benefits:

A factoring company with expertise and experience in the transportation industry will have developed extra money-saving programs like a free load board for getting your loads in front of thousands of motor carriers.

Experience in transportation factoring:

An older company tends to have both the track record in helping clients succeed and the financial stability you need.

Ease of managing your account:

Leading factoring companies have invested in on-line programs and mobile apps that make submitting funding requests quick and easy. You want to be able to track payments in real-time and get a bird’s eye view of your accounts.

Expenses that are transparent:

Any advance, whether it’s charged to a credit card or borrowed from a bank, has its costs. It’s critical that you know and understand these business expenses. An ethical factoring company will provide clear and reasonable advance rates and factoring fees with no “hidden fees” to surprise you.

Why is Factoring Popular with Freight Broker Companies?

Factoring services for freight brokersThe economy has led to slower collection rates:

Today, in an era of increased banking restrictions and decreased savings reserves, many freight brokers struggle to keep up. Instead of endangering payroll and postponing payments to motor carriers, your company can continue with business as usual after the factoring company pays you upon delivery.

Freight brokers companies need flexible financing alternatives:

Unlike a fixed-limit bank loan or line of credit, factoring provides you the most flexible funding options throughout the year. When you factor your invoices, your funding can grow with your business and pays you for completed work. You are not borrowing based on unknown future revenues.

Freight brokers can make important investments in their future:

Without a positive cash flow, freight brokers cannot afford to invest in their business. With factoring, you can have money upfront to upgrade technology, hire another sales rep to sign new shippers, whatever you need to increase future profitability. Your cash isn’t tied up in aging accounts receivable, an important concern for smaller businesses.

Six Questions to Ask Before Choosing a Freight Broker Factoring Company

Not all factoring companies are the same, with one program and one price. Some factoring companies specialize in the transportation industry while others are generalists. Some may offer low rates but provide little or no client services. It’s worth doing your homework before signing up, to ensure that you know what you’ll get from the partnership and how you’ll interact with the company.

Here are a few questions to ask a potential factoring company:

1. How long have you been in business?

A well-established factoring company will have years of experience with helping clients succeed and grow their companies. Older companies will have stood the test of time in different business climates and will have developed client-friendly online systems and mobile apps to speed up funding.

2. Do you specialize in transportation?

The freight business is a complex industry, with many players and types of financial arrangements and instruments. Go with a factoring company with professionals who have an in-depth understanding of how freight brokers can succeed and increase their profits. You deserve to work with experts.

3. What other services can you offer me?

Some factoring companies will provide a full suite of time-saving and convenient services to handle the back-office work associated with your invoicing. Others may have “hidden” charges for those tasks. Be sure you understand what you are receiving.

4. What is the length of my contract?

A longer-term contract may be preferable if the factoring company can offer you more flexible rates or other benefits. Most companies offer a 12-month contract, but some might be willing to negotiate with you for a shorter contract.

5. What are the fees?

Find out if you will be paying a flat factoring rate only or a tiered rate, based on how many invoices you’re factoring and how much those invoices are worth. Ask about other costs, such as money transfer costs, application fees, and additional costs for back-office tasks, like collections and credit checks.

6. Can you offer me flexibility in the number of invoices I will factor?

You may not wish to factor all your invoices. You may have different quick pay agreements with some of your customers, but not others. Discuss your needs and see if the factoring company will be able to accommodate your requests.

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Bonus Features for Factoring Clients

Factoring companies that specialize in transportation funding and have been in business for many years have the expertise and the resources to provide value-added benefits for clients. Interstate Capital, a transportation factoring leader since 1993, provides its freight broker clients one of the best benefits packages in the business.

Same-Day Funding

Same-Day FundingAny factoring company can help brokers get paid early, but not all pay on the same day they receive a client’s paperwork. With Interstate Capital’s streamlined verification processes, freight brokers typically receive funds on the same day invoices and proof of delivery documents are submitted. Clients can determine when and how much carriers will be paid; those carriers can also receive same-day funding at the broker’s request.

Fuel Advances and Quick Pay to Carriers

Fuel Advances and Quick Pay to CarriersAs fewer individuals choose to drive long-haul trucks, freight brokers are feeling the impact of the driver shortage. Successful freight brokers tend to provide better benefits for their carriers than their competitors; fuel advances and quick pays are among today’s popular benefits. Interstate Capital offers brokers the option to forward fuel advances upon loading and to provide quick pay to carriers. Brokers can set and charge quick pay discounts with Interstate’s easy-to-use payment process.

Funding from Originals or Copies

Funding from Originals or CopiesSome factoring companies require freight brokers to submit ORIGINAL documents before approving invoices: they want brokers to mail or overnight signed bills of lading showing that the loads were delivered. With Interstate Capital, you can simply fax or email scans of these documents, which means you get your cash right away and no more searching for FedEx boxes.

Professional Collections

Professional CollectionsWhile most factoring companies offer to collect on clients’ invoices, not all do. Interstate Capital has an in-house team of veteran collections professionals with a reputation for treating clients’ customers as if they were their own. This collections team works to resolve any potential obstacles, such as missing paperwork or invoice questions, before payment is due.

Flexibility of Funding Methods

Flexibility of Funding MethodsSome top-tier factoring companies, such as Interstate Capital, enable freight broker clients and their motor carriers to choose among a menu of payment methods for their funds:

• Direct deposit (ACH) into their bank account
• Mailed paper checks
• Wire transfers sent instantly to their bank account
• Comcheks to convert to cash

This flexibility in payment method gives freight brokers an advantage when they’re competing for good drivers for their loads. With today’s growing shortage of drivers, companies that offer quick pay and flexible payment options can better ensure that their loads are covered. Drivers appreciate the opportunity to let their freight brokers know their preference for payment method.

Client Web Site

Client Web SiteTo enable clients to stay on top of their accounts receivable, some factoring companies have created comprehensive user websites for businesses to track incoming revenues and outstanding balances. The Interstate Capital client website gives business owners an effective and efficient financial management tool. Clients receive one-on-one training on how to use the site for both the big picture and the details as well as how to run helpful reports.

Load Board Membership

Load Board MembershipA small number of transportation factoring companies have set up load boards to add freight matching services for their clients. These online load boards connect motor carriers with brokers and also allow freight brokers to expose their loads to more carriers. Interstate Capital was the first factoring company to launch a load board that was fully integrated with quick pay and factoring services.

Today, FreeFreightSearch.com, is the world’s largest completely FREE load board, with more than 75,000 registered motor carriers, freight brokers and shippers. Interstate Capital clients are automatically entered into membership and can receive one-on-one training on how to get the most out of this easy-to-use site. Freight brokers are able to have their loads visible to thousands of motor carriers every day, including many who don’t sign up on the paid-subscription load boards and are eager to pick up loads. You can also receive alerts when a motor carrier lists the availability of the right equipment in the location of one of your loads.

Broker Bonds

Broker BondsWhen it’s renewal time for the $75,000 freight broker bond, some factoring companies will assist their clients. Interstate Capital offers broker bonds at discount prices to freight broker clients. Timely compliance is critical and the Interstate Capital team can help get cash fast to clients for broker bond premium payments.

Credit Checks

Credit ChecksWith today’s increase in business fraud and online transactions, knowing a shipper’s creditworthiness is critical in a freight broker’s business decisions. Most factoring companies study clients’ customers’ credit histories and payment patterns. Interstate Capital is heavily invested in maintaining extensive credit records on their own experiences with tens of thousands of their clients’ customers. The company also has instant access to in-depth credit reports on hundreds of thousands of other companies. The company offers free credit checks to clients and free consultation with the company’s in-house credit analysts.

Referral Bonus

Referral BonusSome freight brokers refer their motor carriers, friends, business associates, family members, and others to their factoring company. When a freight broker refers someone to Interstate Capital and their referral signs on with Interstate Capital for factoring services, the freight broker receives up to $500 per referral, and may also receive regular commissions on those referrals’ fees. The more funded referrals, the higher the bonuses.

Credit with Clients and Guaranty Letters

Credit with Clients and Guaranty LettersInterstate Capital is committed to protecting its clients against loss due to non-payment from financially insecure customers. Interstate is equally committed to the success of all its clients and works to widen their business opportunities. When freight brokers work with carriers that also factor with Interstate Capital, the carriers can receive unlimited credit, a good incentive for doing business with them. Interstate Capital can also issue guaranty letters to carriers on behalf of broker clients that guarantee they will receive payment for delivered loads.

Case study: How factoring supports freight brokers’ relationships

Let’s look at how factoring worked for Mountain View Brokers, a five-year-old brokerage founded by Bill, a transportation industry veteran, and his wife, Ellen, a savvy business woman with an entrepreneurial drive. Bill’s years of working for other brokers showed him the value of partnering with a factoring company to maintain a dependable cash flow. One of their first decisions was to call Interstate Capital.

Over the years, Mountain View Brokers has gone through many changes common to today’s brokers, including weathering up-and-down trucking industry cycles, losing a large customer’s business when that company transitioned to using an in-house brokerage, and working to renew contracts after long-time decision makers were replaced during corporate acquisitions and consolidation.

Yet, two parts of their business haven’t changed: their vision for the kind of company they want to run and their factoring company. Through hard work and sticking to their vision, Ellen and Bill have seen steady growth. They’ve also seen how Interstate Capital helps them work toward meeting two key goals:

Freight Bill Factoring Rate1. Strong relationships with motor carriers

The couple cares about the owner-operators and fleet owners they work with and wants them to succeed. Ellen and Bill work hard to build good working relationships with motor carriers and many have been hauling for Mountain View since the brokerage opened. Helping these relationships is the fact that from its first day, Mountain View has consistently paid carriers promptly, thanks to Interstate Capital’s advances upon loading and delivery.

2. Strong relationships with customers

Like so many brokers, Mountain View can struggle with customers who don’t pay on time. These can be great customers and highly valued, but slow payments can create challenges. Ellen and Bill like having Interstate Capital’s professional and courteous collections team contact shippers about their payments, rather than them. As many business owners know, it can be difficult to ask for more business and ask for payment at the same time. This separation between collections and sales helps Mountain View’s customer relationships.

Like so many brokers, Mountain View can struggle with customers who don’t pay on time. These can be great customers and highly valued, but slow payments can create challenges. Ellen and Bill like having Interstate Capital’s professional and courteous collections team contact shippers about their payments, rather than them. As many business owners know, it can be difficult to ask for more business and ask for payment at the same time. This separation between collections and sales helps Mountain View’s customer relationships.

Mountain View Brokers is a shining example of a small family-owned business that has succeeded in today’s highly competitive environment. By factoring to pay carriers promptly and turning over collections chores to their factoring company, Ellen and Bill continue to enjoy good relationships with both carriers and customers.

About Interstate Capital

Founded in 1993, Interstate Capital now employs more than 100 dedicated factoring professionals and has successfully funded over 10,000 clients. With locations in California, Texas, and New Mexico, Interstate Capital purchases nearly $1 billion dollars of invoices annually from clients located throughout North America. To better serve the transportation industry, Interstate Capital owns the world’s largest FREE freight matching site, www.FreeFreightSearch.com, which posts nearly a million loads per month.

Interstate Capital is one of North America’s largest and best-funded independently owned factoring companies, so approval and funding decisions are made quickly and without outside interference. Interstate Capital’s team of two dozen dedicated, experienced account managers provides one-on-one client servicing to ensure personalized attention. Specialists with years of experience in working with freight brokers are committed to helping each client succeed, grow their business, and become more profitable.

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