Freight factoring for brokers & shippers
Almost nothing, is the short answer. Your rate and your terms are the same and the factoring cost is the carrier's. The one thing that changes is where you send the payment.
The four things to know
The first time one of your carriers factors a load for you with us, you get a written NOA. It names the carrier and directs payment for their invoices to us instead of to them. Route it to accounts payable and update the remit-to on that carrier's record.
This is the part that costs brokers real money when it goes wrong. Once a valid NOA is in place, a payment sent to the carrier generally does not satisfy the debt, and the invoice remains owed to us.
We own the invoice, so a shortage, a claim, or a rate disagreement settled directly with the carrier still leaves an open receivable here. Telling us at the same time is what keeps one problem from becoming two.
Our clients check the approved list before they book. Being on it means a carrier can take your load knowing the invoice will fund, which in a tight market is a reason to cover your freight ahead of somebody else's.
New to notices of assignment? Read the plain-English guide.
Remittance instructions are on the notice of assignment and on every invoice we send you, and our office will confirm them on the phone. We do not publish account details on this site, and you should be suspicious of anyone who does: if you receive an email changing our remit-to information, call 800-838-2907 and confirm it before you send anything.
Getting approved
Credit approval is not a formality here. It is the thing our clients check before they decide whether to cover your load.
Every carrier factoring with us can check whether a broker or shipper is approved before they book. That check is free to them, it takes seconds, and in a soft market it is increasingly the first thing a carrier does with a load offer.
The practical consequence for you is coverage. A carrier looking at two loads at similar money will take the one they know will fund, because the alternative is doing the work and then finding out. Being approved removes that question from the decision.
Getting approved is a credit check on your company and a conversation, not an application process. Call or email the office and we will tell you where you stand.
Broker questions
Written for whoever in your office opens the notice of assignment, not for a trucking audience.
A notice of assignment, or NOA, is a written notice telling you that a carrier has sold their invoice to a factoring company and that payment should now be sent to the factor instead of the carrier. It is standard practice in trucking and it applies to the invoices covered by the notice until you receive a written release.
Contact us straight away. Once a valid notice of assignment is in place, paying the carrier instead of the factor generally does not discharge the obligation, which means the payment can end up owed twice. It is almost always fixable when it is caught early, and much harder once the money has moved on.
No. The factoring cost is the carrier's, not yours. Your rate, your terms, and your paperwork are unchanged. The only thing that changes is where the payment is sent.
Call or email the office and we will run credit on your company. Approved brokers and shippers appear on the list our clients check before booking, which means carriers can take your freight knowing it will fund.
Contact us directly rather than working it out with the carrier alone. We hold the invoice, so a dispute settled between you and the carrier without us still leaves an open item on our side. Bring us in and it gets resolved once.
Call the office and speak to the person handling that account. No menus, no ticket queue, no callback window.
