Getting Paid

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Show me the money

I want my money now
— My name is not JG Wentworth

Factoring 411

What is factoring? How do you choose the right company?

What is factoring?

Factoring is when you sell your invoice to get paid now, rather than waiting. 

Brokers usually pay your invoice 35-45 days (or more!) after you have delivered the load and submitted an invoice. 

Who can afford to wait 45+ days to get paid?
— Get paid 24 hours after delivery

 

Rather than wait for the broker to pay you, carriers can sell their invoice to a factoring company. This company will pay you now for the invoice. Then, the company will let the broker know to send payment to them directly, and they'll wait the 45+ days to get paid. 

For doing this service, they are paid a fee. Of course, they're not doing this out of the goodness of their hearts. 

Factoring fees vary
— Hidden fees abound

 

You think you're just comparing the factoring fee - which is a percentage of the invcoice amount. Lot's of ads offering a low rate....but wait. 

When you are a single truck carrier, often the fee may not be so great. The factoring company doesn't give you a discounted rate, because you're not earning them as much money as the bigger guys. 

 

We know which ones work best for hot shot trucking carriers, like you

Plus there are a LOT of other fees they try to hit you with. Don't fall for those pretty marketing ads. It doesn't cost you a cent to ask us for the best company.

Don’t worry, we’ve got you covered.
— We know the best companies

 

From the moment you Apply for MC Authority

Everything on your application is of public record. Thousands of companies use this information to inundate you with their sales pitches. 

Factoring companies are no different
— It will cost you to jump on the wrong one

 

Use our experience to choose the right company

With all the carriers we service, including our own business, we have the experience to know what factoring company is right for hot shot trucking companies. 

Why don't we just publish the company name here?

We're evaluating all the time! Because things change, we go with the company that is currently the best and maintains their customer service after you signed on the dotted line.


Let me know if you want to get the best rate
— and the best service

AUTHORITYJill Michael