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For Freight Brokers: What are your rates for you to factor your invoices?

Discussion in 'Freight Broker Forum' started by RandomChick, Oct 30, 2013.

  1. Oct 30, 2013 #1
    RandomChick

    RandomChick Light Load Member

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    Hi,

    I have a quick question. I found a lot of information regarding the the factor rates for motor carriers, but I can't get my hands on the actual rates freight brokers get from factoring companies. I see a bunch of teaser rates, but what are the rates you've actually experienced? Please let me know. Thanks!

    Rachel
     
    RandomChick, Oct 30, 2013
    RandomChick, Oct 30, 2013
    #1
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  3. Oct 30, 2013 #2
    LSAgentOZR

    LSAgentOZR Road Train Member

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    I don't factor.
     
    LSAgentOZR, Oct 30, 2013
    LSAgentOZR, Oct 30, 2013
    #2
  4. Oct 31, 2013 #3
    Oscar the KW

    Oscar the KW Going Tarpless

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    Freight brokers have "quick pay"

    Factoring companies "factor"
     
    Oscar the KW, Oct 31, 2013
    Oscar the KW, Oct 31, 2013
    #3
  5. Oct 31, 2013 #4
    RandomChick

    RandomChick Light Load Member

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    But some freight brokers do factor
     
    RandomChick, Oct 31, 2013
    RandomChick, Oct 31, 2013
    #4
  7. Oct 31, 2013 #5
    LSAgentOZR

    LSAgentOZR Road Train Member

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    Name them then please.
     
    LSAgentOZR, Oct 31, 2013
    LSAgentOZR, Oct 31, 2013
    #5
  8. Nov 1, 2013 #6
    RandomChick

    RandomChick Light Load Member

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    Aug 12, 2013
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    RandomChick, Nov 1, 2013
    RandomChick, Nov 1, 2013
    #6
  9. Nov 1, 2013 #7
    281ric

    281ric Road Train Member

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    I have a couple of local friends (independent brokers not agents ) that do
     
    281ric, Nov 1, 2013
    281ric, Nov 1, 2013
    #7
  10. Nov 2, 2013 #8
    wilfredbacon15

    wilfredbacon15 Light Load Member

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    Sep 29, 2013
    Manila, Philippines
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    I think they keep them secret.
     
    wilfredbacon15, Nov 2, 2013
    wilfredbacon15, Nov 2, 2013
    #8
  11. Nov 2, 2013 #9
    6wheeler

    6wheeler Road Train Member

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    Yea I would like to know too. If a broker can get a Factoring Company to handle the invoices for carrier's, then a broker doesn't need $25,000 in the bank to wright out checks every week. Just past along the invoices for a small fee. I can see how a lot of start up brokers get in business like this.

     
    6wheeler, Nov 2, 2013
    6wheeler, Nov 2, 2013
    #9
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