Trucking companies across the country use accounts receivable financing, aka trucking factoring, to control cash flow and build liquidity. Instead of worrying about daily expenses or meeting payroll, fleet operators have cash available to handle whatever comes down the road.
Since 1994, TCI Business Capital has been a leading provider of accounts receivable financing and freight factoring services in the United States. Trucking companies rely on TCI Business Capital for consistent cash flow to pay for fuel, meet payroll, and more. TCI Business Capital offers high cash advances, low rates, and same-day funding on invoices.
Consistent cash flow is the lifeblood of trucking companies. At TCI Business Capital, we know the need for cash is immediate. We have cut through the red tape and streamlined the application process so that companies can get money quickly. Getting set up for funding is easy as 1-2-3.
Step 1 – Get a Quote
Speak with a TCI Business Capital representative. We’ll discuss your cash-flow situation and future needs. We’ll offer a quote for a funding line very quickly, usually within about 15 minutes.
Step 2 – Set Up Your Account and Submit Invoices
Once a factoring line is agreed upon, and you are ready to move forward, we’ll schedule your first funding. During the onboarding process, we’ll talk to you about the factoring agreement, discuss your invoices, and answer any questions.
Step 3 – Get Cash for Your Invoices
Setting up an account can be done in a matter of days. When the process is complete, we fund via ACH direct deposit or a wire transfer directly into your bank account. From this point forward, each time we receive your invoices, we’ll fund you that same day.
The core of every financing line TCI Business Capital offers is reliable cash flow and helpful customer service. These essential services are our promise to you:
Freight invoice factoring is different from a bank loan or bank line of credit. Eligibility for a factoring line is determined primarily upon your customer’s credit and payment history, not your company’s. There are no line limits based on your company’s credit.
Trucking companies using factoring have money available to cover day-to-day operations. Drivers no longer wait at the pumps to buy fuel, repairs get done quickly, and steady payroll means driver retention is no longer an issue. With factoring, fleet owners can focus on finding the best loads and negotiate rates with confidence.
A quick pay program or quick pay financing is an option some fleet owners and operators use to get cash quickly. Trucking quick pay programs can be advantageous. However, not all freight brokers or shippers offer a quick pay service. The rates and fees associated with these quick pay programs can vary widely and are generally higher than factoring.
Freight invoice factoring offers a comprehensive financing option as there are set rates for advances and fees on all invoices, no matter who the broker might be. For trucking companies with freight brokers as customers, invoice factoring will provide a reliable and cost-effective financing option for the future.
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TCI Business Capital has provided superior accounts receivable financing and freight factoring services for over 20 years. Our reputation for customer service and experience in the freight industry is unmatched. We understand it takes hard work to be successful. Our freight factoring services makes the road to success a lot easier and keeps you moving forward.
We have over 20 years of experience working with the major players in the trucking industry. We know their invoicing requirements, which makes it even easier for you to get paid the same day for the hard work you do. Some of the companies we work with include:
|C.H. Robinson Worldwide, Inc.||Coyote Logistics||Hub Group|
|Total Quality Logistics||United Parcel Service Inc.||XPO Logistics|