lets talk factoring
Discussion in 'Ask An Owner Operator' started by pavrom, Jun 9, 2021.
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What I would do if I had to factor is just factor what I need and let the rest flow naturally. Then once the rest becomes a regular flow, should be able to wean off the factoring.
feldsforever, Speed_Drums and Diesel Dave Thank this. -
For the OP. I use Apex. Percentage is based on how they take to pay. Most is 3% been with them 2 years now. Haven't had a single issue. I've rarely called them. But when I do, my rep has always answered. I always do the next day payment as same day there is a charge. Once I did same day by accident, my rep called and asked if it was a mistake because I always do next day. Thought that was nice they caught that. No contract. No sign up fees.feldsforever, DieselDrivinDaddy and Dave_in_AZ Thank this. -
slow.rider Thanks this.
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Wespipes and slow.rider Thank this.
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pavrom Thanks this.
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I will talk to my wife tomorrow to see who we use. I know if I get the bol in by 1100, I get paid next day and never had an issue. I use factoring because I have been burned a few times before. So the small percentage I loose by factoring, I gain in not loosing it by not being paid or filing on somebody's bond and getting paid pennies.
mwhjr1988, pavrom and slow.rider Thank this. -
I used Four Winds/Oak Hill Capital for about 3.5 years. I couldn't say one bad thing about them. Always answered the phone, the person that answered always, and I mean always had an answer to the question. I wanted to take one broker off the factoring once because I got a dedicated thing from them that was going to last about three months. It was about 2 minutes on the phone with the first person that answered and I had the letter in my email.
shooter19802003, pavrom and slow.rider Thank this. -
Thunder Funding is a big part of his sales pitch to his subscribers and while I do not factor myself I looked into it and was ultimately turned off from Thunder because you can get the same rate elsewhere without the reserve they take of your money.theSoz, ProfessionalNoticer, shooter19802003 and 1 other person Thank this.
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