Skip ahead to the list of freight factoring offers or quote comparison form
Apex Capital Corp, founded in 1995, is a freight factoring company for small to medium sized trucking companies, serving new and established businesses.
WHAT IS OFFERED:
- Well-designed, easy to use website
- Free credit checks and self-funding
- 2% flat rate on already billed invoices
- Both Recourse and Non-recourse factoring options
- No monthly minimum volume fees
- Free online Account Management Portal (AMP) with 24/7 access
- Account executive to help manage the account
- Free unlimited access to the load board at NextLOAD.com
- Low, competitive rates with same-day and next-day funding
- No long-term contracts or termination fees
- Free fuel card with discounts on fuel nationwide
- Professional collections on factored invoices
- Free Mobile Factoring™ app with image capture technology
- Fast and reliable funding with faxes and copies
Overall impression of Apex Capital – Very Positive
MAIN CONCERNS / HIGHLIGHTS
1) Company is in business for 20+ years.
2) Company is BBB Accredited since 2009 with A+ rating.
3) Company offers great terms on their factoring contracts – no termination fee, free credit checks, fuel cards, etc.
4) Apex demands all invoices to be factored trough them during the contract time, but it looks like good customers can negotiate out of this provision.
5) No hidden charges or dishonest dealings reported.
6) Most online comments are positive, past and current clients recommending Apex Capital.
7) No complaints filed on RipOffReport.com or PissedConsumer.com
1 – Positive Report
Positive comment was posted on TheTruckersReport.com on 12-29-2008.
Current client of Apex left a good comment about Apex’s fuel card.
2 – Positive Report
Positive comment was posted on TheTruckersReport.com on 1-4-2009
Former client commented on decent interest rate offered by Apex.
3 – Positive Report
Positive comment was posted on TheTruckersReport.com on 1-4-2009
Former client commented on Apex helping him work trough slow times.
4 – Positive Report
Positive comment with recommendation was posted on TheTruckersReport.com on 7-16-11
Former client of Apex stated that:
“If I had to go back to using a factoring company, I would go with APEX factoring and use their top of the line fuel card.”
5 – Positive to Neutral Report
Positive to neutral comment was posted on TheTruckersReport.com on 12-4-2011
Current client stated that Apex has
“… very good customer service and responsiveness is excellent. Pay 2% for what I thought was 90 days but just found out it’s 60 days. We get a fuel discount and EFS account through them. Settlements are always correct and on time”
Also:
” Bad news is they want all our invoicing, even Landstar, Mercer and others with 2 to 10 day payment terms. We ran some outside Apex and they somehow found out and threatened to close the account.”
6 – Positive Report
Positive comment with recommendation was posted on TheTruckersReport.com on 2-10-12
Current client stated:
“I use APEX and am pretty happy. It is a recourse program but the percentage is 1.5-3.5 % and they have a fuel card with kick butt discounts that help defray what it cost in factoring fee’s. If you need the cash flow (which I do right now) and have to factor I would recommend them.”
7 – Negative Report
Negative comment was posted on TheTruckersReport.com on 9-19-12 and 9-20-12 by the same author.
Current customer had a problem with the broker, which was customer’s fault (company driver neglected to trap the load, and parts of the cargo fell onto the road). Apex clearly had nothing to do with the problem.
Apex refused to get between the customer, broker, and insurance company, which was the right thing to do. Customer was complaining about Apex not dropping the broker (???) because of this incident, which is unreasonable demand under the circumstances. After all, customer’s driver caused the problem by neglecting his cargo.
Another author commented on the same thread on 2-20-12, stating that customer needs to concentrate on the insurance company, not Apex.
8 – Negative Report
There was a negative report filed with BBB on 1-11-2013, where customer complained that Apex is holding his money for 2 month.
HOWEVER, Apex Capital responded the same day (!!!) with very detailed account of what happened, dates, and amounts. According to Apex, this customer was paid 90% of invoice within 24 hours from factoring. Apex will release the remaining amount due (approximately $350), as soon as invoices are paid by the broker. The last two invoices were purchased by Apex in December of 2012 (no exact date given), and BBB complaint was filed on 1/11/2013, very likely within 30 days of invoice purchase date.
9 – Positive Report
Positive comment was posted on TheTruckersReport.com on 2-26-13
Current customer of 18 month stated:
“I use APEX. I’ve encountered no hidden charges or dishonest dealings in a year and a half. They have a nice fuel discount card and fair rates in my opinion. Been with them for 18 months and haven’t gone broke yet. The fuel discounts basically pay for the cost associated with factoring for me.”
10 – Positive Report
Positive comment with recommendation was posted on TheTruckersReport.com on 9-8-13
Current client stated:
“Call Apex Capital in Ft Worth (Google them). They are the factor I used. Their fees are typical and, better, they will issue you an EFS card. Fuel savings are 10-50 cents off/gallon or more (the best deals are at TA/Petro) and the fuel savings I had per month were always more than what it cost to factor my bills – including the costs of overnight mail, transfer fees, etc. Win-win.”
11 – Positive Report
Positive comment with recommendation was posted on TheTruckersReport.com on 10-13-13
Current client stated:
“I used Apex Capital out of Ft Worth. They have fees – not hidden – but easy to work with and ALWAYS answer calls and emails. The discounts on fuel with fuel card they gave me more than offset all fees – meaning their service ended up costing me nothing.”
12 – Positive to Neutral Report
Positive to neutral comment was posted on TheTruckersReport.com on 4-19-14
Current client of 5 years stated:
“I have used apex for about 5 years, didnt have any problems yet. they started me off with 3 1/2 % and worked my way to 2 1/2% and those are non recourse . They nickle and dime me here and there but i always focused on the big picture but those small charges add up over time. they charge for same day funding , additional 1 %. I dont know i been ok with them but i am always looking for the best deal. by the way i think they have some velum minimums but i have been between 1- 3 trucks. they dont pay attention to me so i am sure they would raise the fees because i got 1 truck in action then 3 trucks…. overall i think they ok.”
13 – Positive Report
Positive comment was posted on TheTruckersReport.com on 8-31-2014
Current customer of 4 years stated:
“I use Apex. Have for about 4 years. I don’t use any of their other services. It’s nice that I don’t have to send all my invoices in to be factored and if I want to release a company all it takes is a phone call and within 10 minutes usually company is sent an email. I like that I can check companies pay history before I take their load.”
14 – Negative Report
Negative comment was posted on TheTruckersReport.com on 9-1-14
Past client stated:
“I factored with them in 2012. My agreement stated there was no minimum and I did not have to factor all my customers. They canceled my contract and would no longer do business with me because I didn’t use them enough……”
Mostly Positive Reports from Google+
Mostly positive reviews were posted on Google+.
One reviewer rated Apex with 1 star. No details were given as to poor rating.
Apex responded inviting this person to contact the company with any issues.
My Report
I factored with them in 2017. My agreement stated there was no minimum and I did not have to factor all my invoices. But without any prior warning, they blocked my online access and misappropriated my funds to a third party (without my permission) to zero my account’s positive balance. The two weeks prior to this, they called me one time to ask me about my business plan since I hadn’t factored enough invoices with them to satisfy them. I was busy and asked them why they were asking this. They said that there was no real reason but that they would put my account on hold if I didn’t factor more. When I asked what this meant, they had no real explanation. I don’t know if they released the UCC filing. But I haven’t received any notice from them that they terminated me. All I know is that they blocked my account access and misappropriated my funds to zero out my account. Back stabbers.