As a freight broker, you need to focus on speed, reliability and lowering the risk for motor carriers. Factoring companies like Interstate Capital understand all the intricacies involved in running and operating your business, which is why we offer factoring services that are tailored to freight brokers’ needs.
Freight brokerages often struggle to fund their businesses because conventional financing routes such as bank loans or expensive merchant cash advances don’t always provide the ideal solution. Factoring on the other hand gives you immediate access to cash without incurring debt. The factoring company will pay your carriers as soon as they deliver your load. You pay a small factoring fee for the benefit of paying your carriers sooner.
Use that benefit to earn quick pay discounts from your carriers. The most common reason for freight brokers to choose factoring is improving cash flow. You can pay your carriers, your insurance and taxes, and other overhead expenses without waiting 30 or 60 days or even longer to get paid for loads.
When you partner with Interstate Capital, we will be able to issue payments to your carriers as soon as you send us your invoices, which means that you can continue doing business and cover your costs while focusing on making money instead of waiting for your clients to pay you.
Some of the benefits that freight brokers receive when they partner with Interstate Capital include the following:
- Quick pay your carriers with our funds
- Provide fuel advances to your carriers with our funds
- Funding in as few as 2 hours
- Credit approval for your shipper accounts
- Unlimited credit with carriers who factor with Interstate Capital
- Broker bonds program available
Applying and qualifying for freight brokerage factoring is easier and faster than traditional bank loans – and comes with special benefits tailored to logistics companies.
Contact us for a factoring rate quote today.