Factoring companies: which are good? What to look out for?

which factoring company is a good one and what do you need to look at about them.thanks a new o/o flatbeder.

 

i used d&s factors they charge a flat 5%....i have used them off and on for like 2 years.......only had one problem with them so far........btw now they charge for release letters and it use to be free....they charge like 20 bucks........u need to look out how much they charge to factor, how do you get the docs to them, if they are non recourse or not, how much do they charge to pay, factor minimums, and if you have to factor everyone......those are just some starters im sure others can add on.....i see that you are new to the site so i would suggest you do a search for factoring companies on the site......im sure you will get more info like that than posing this questions because it has been discussed numerous times already.....good luck

 

thank you I did a search for factoring companies,nothing popped up. I read some things on here a while back.just cant remember which place.thanks again.

 

Awfully dang expensive money.

 

I don't want to factor every thing just some for a little cash flow,10k don't buy a lot of fuel now days.

 

If your credit can withstand it, you'd get a better interest rate on a revolving line of credit at a bank.

 

Why sell it?

Sign up with a 3PL that has quick pay and advances cash, less money out of pocket and one thing about factoring companies, if they cannot collect they come after you still.

 

we use TBS out of Ok we really like them

 

Nice, GREAT Information. Thanks.

 

I wouldn't use factoring at all because they all lie AND STAY WAY FROM FINANCIAL CARRIER SERVICES very bad news they out north Carolina