How to select the best trucking factoring company or even a good freight broker factoring company?
There are a large number of factoring companies but I would suggest that you go after those who have the know how and the knowledge about how the trucking and the freight bill works. Now a lot of companies will require that they do have amount of business commitment with you and also they charge and initial one time set up fee. However if you search enough you will find a few companies who will be able to provide with factoring services with no minimum business obligation as well as no initial charge. How much does the freight factoring company charge – Most freight factoring companies charge about .5% to 1.5% for 30 days on the lower side and some charge about 3% on a monthly basis on the higher side. The charge again is based on the volume of business that you are giving to the freight factoring company. Now once you get the payment back from the customer on the freight bill the freight factoring company will release the payment and that payment will then be discounted and the freigh
