Factoring Company

Considering they're probably getting their fuel for cost minus 5-7 cents at about 40 cents a gallon off pump, i would say England is raping their O/O's

 

Yeah, I thought the same thing. But that is at Pilot and have not seen anything much better. And for me, I can fund it with my business Mileage Plus card that I have a 60-day float on and not extra fee. And the card is a comdata card so I can take cash advances out. It works out nicely compared to what I have seen. Everything else seems to be a card that you have fund with hauling loads for the company or factoring with them.

And I'm not even sure that England passes the discount I get onto their LP's or O/O's. I think they just see the cash price.

Would love to hear of any programs that can save me money.

 

When TA lost 10% of our trucks to Pilot, they dipped under Pilot's price by 5 cents real quick

 

Just a suggestion. Before you sign the contract with a factoring company go talk to your local banker. I did and was surprised to learn what they had to offer. Not all banks do it, but I can assure you that it's well worth a couple of phone calls and a visit. My little local bank beat the hell out of a factoring company.

 

From what I hear most brokers have quick pay that would be cheaper that factoring

 

I have used Apex capital for over a year. They are GREAT. My fuel discount has always covered the cost of factoring. My discount in feb was almost $1300.

http://www.apexcapitalcorp.com/

If you are looking for a fuel discount w/out factoring. Check out

http://www.rtsfinancial.com/

http://www.nastc.com/

Good Luck!!

-scott

 

Plenty of factoring companies out there and as someone mentioned- the moment you file for your MC # - your phone will get flooded with calls about anything and everything. Before you look into factoring company, see if you can qualify for a LOC (line of credit) with the bank you have your business account with. With a decent credit, its not that hard to get approved for a 20k LOC.

But then again having non recourse factoring alleviates the tension of not when but if the broker will pay. Its all risk, just choose the one that has the least risk