Factoring Company

If you are looking for a non recourse factor you may want to check with D & S Factors. www.dsfactors.com.

 

Little extra fees are less with D&S as compared to Freight Capital. But if you pay attention to what fuel locations you use with FC, you can more than make up for factoring fees if you are using them for up to 2x invoices over what you need for fuel.

 

I just don't understand why people would need a factoring company when most reputable brokers do "quick pay".
I married a factoring company 3 yrs ago named First Line Funding Group in ND.They took soo long to bill my cust/brokers and that meant their % also went up.The longer it took to pay them, the higher the rate became.I then tried to divorce those women and I must have lost about $1500 in breach of contract.NEVER AGAIN WILL I DO A FACTORING COMPANY.3 trucks and I have my own list of 3PLs I deal with.If a broker do not do quick pay, I don't haul for them.
Gman, D&S is not the best as you have recommended them to many people.If I had to go back to using a factoring company, I would go with APEX factoring and use their top of the line fuel card.

I belong to NASTYC, so why use a factoring company when I am getting cost plus price at the pumps.DIVE INTO A FACTORING COMANY AND IT WILL BE A LESSON.

 

When I started using D & S most brokers were not doing quick pay. Some who did were charging as much as 8% to pay early. That was not acceptable to me. I never stated that D & S was the best. I merely stated that I have used them for a number of years. I rarely factor anything any more. Before deciding on D & S, I looked at many factors. Most seemed to have a lot of fees, minimum monthly amount of receivables which you must factor and some wanted you to factor all of your receivables. When I found D & S I was told that I could factor as much or little as I wanted. At the time I had some shippers and/or brokers who would pay COD or when I gave them the invoice they would write me a check and I didn't have to discount the invoice.

I originally looked at recourse factors, but I had a friend who had a problem with one and when you look at the schedule of fees that some charge, you could easily be up to the same amount or more as D & S charged. I liked the idea of factoring and not having to worry about the invoice being charged back to me and their flat fee was more predictable at 5%.

D & S may not work for everyone, but they have done a good job for me. I have never had a problem with them. I send them my paperwork and have my money in my bank account within 24 hours. I have no problem sharing my experience with them.

 

someone define Non-recourse for me please

 

short version if factoring company says they will factor carrier and carrier doesnt pay the factoring company will not come after you for the open invoice

 

I use Porter billing in Birmingham Al. and have been pleased so far. I only factor what don't offer direct deposit or com chek type payemnts or those who charge over 3% to quick pay.

 

Well that seems risky for the factoring company haha. There has to be some fine print on that...

 

Wrong, If they short pay you, you will be charged. If they pay you 50% of what they owe you and stay in business you will be charged. The only time it's non-recourse is if they go bankrupt. The factoring company may help with collections if short payed, however they are not obligated to.