Applications for Factoring

Hi all, New to the forum.
We have just purchased our first truck and have applied for our authority. Currently leased on to a local intermodal broker, but getting tired of the nonsense. Getting our game plan in place to hit the road.

QUESTION: Is OUR credit a factor in applying for factoring? I was surprised to see this on the factoring application. We do have some credit issues from a previous business venture (don't ever sign as a personal guarantor) and I am hoping this will not stand in the way of being eligible to factor our loads.

If anyone has any insight into this, I would appreciate any feedback. Thank you so much

 

Thanks for your reply. I couldn't message back, I gather because I have not made enough posts. I will definitely check it out. I was surprised when they began asking that info, authorization to check etc...Good luck to you as well.