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Factoring for felons.. new O/O

Discussion in 'Questions From New Drivers' started by Amber0911, May 17, 2021.

Page 1 of 2
  1. May 17, 2021 #1
    Amber0911

    Amber0911 Bobtail Member

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    May 17, 2021
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    Hello, I'm having a hard time finding a factoring Company that hires felons.. All of them keep denying.. 2-3 hrs sending info and filling out applications only to hear a NO.. IS THERE A COMPANY OUT THERE THAT WILL FACTOR A FELON?? PLEASE HELP..
     
    Amber0911, May 17, 2021
    Amber0911, May 17, 2021
    #1
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  3. May 17, 2021 #2
    slow.rider

    slow.rider Road Train Member

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    NYC
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    slow.rider, May 17, 2021
    slow.rider, May 17, 2021
    #2
  4. May 17, 2021 #3
    roundhouse

    roundhouse Road Train Member

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    Might be better to just wait a couple weeks to get the money and not give a big slice off the top to the factoring company AKA payday loan biz .
     
    roundhouse, May 17, 2021
    roundhouse, May 17, 2021
    #3
    Dockbumper Thanks this.
  5. May 17, 2021 #4
    ZVar

    ZVar Road Train Member

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    Wow, a company won't lend you money when you've already proven you can't be trusted. How shocking!
     
    ZVar, May 17, 2021
    ZVar, May 17, 2021
    #4
    JSanborn103, Frank Speak and GreenPete359 Thank this.
  7. May 17, 2021 #5
    slow.rider

    slow.rider Road Train Member

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    ^ ^ ^ ^
    Troll
     
    Last edited: May 18, 2021
    slow.rider, May 17, 2021
    slow.rider, May 17, 2021
    #5
    bumper Jack, Badmon, nredfor88 and 2 others Thank this.
  8. May 17, 2021 #6
    runningman0661

    runningman0661 Road Train Member

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    Clover, South Carolina
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    What an ignorant comment. So he’s a felon, paid his debt to society and should be given a second chance.
     
    runningman0661, May 17, 2021
    runningman0661, May 17, 2021
    #6
    Jaebo74, Badmon, Qbf594 and 3 others Thank this.
  9. May 17, 2021 #7
    roundhouse

    roundhouse Road Train Member

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    Depends on what the felony was for .
     
    roundhouse, May 17, 2021
    roundhouse, May 17, 2021
    #7
  10. May 17, 2021 #8
    Wespipes

    Wespipes Road Train Member

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    I'm a felon. I factor with apex capital. Me being a felon never even came up
     
    Wespipes, May 17, 2021
    Wespipes, May 17, 2021
    #8
    slow.rider and wore out Thank this.
  11. May 18, 2021 #9
    Frank Speak

    Frank Speak Road Train Member

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    So, What is factoring exactly? I’ve only ever been a company driver. I assume factoring means BOLs worth 10k and they give you $8k immediately? Then they go after the full $10k?
     
    Frank Speak, May 18, 2021
    Frank Speak, May 18, 2021
    #9
    Jaebo74 Thanks this.
  12. May 18, 2021 #10
    Wespipes

    Wespipes Road Train Member

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    It's takes around 30 days to get paid after you send an invoice. A factoring company pays you same or next day then bills the broker. And takes typically 3%
     
    Wespipes, May 18, 2021
    Wespipes, May 18, 2021
    #10
    NavigatorWife, Frank Speak, slow.rider and 1 other person Thank this.
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