Factoring for felons.. new O/O

Discussion in 'Questions From New Drivers' started by Amber0911, 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..
     
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  3. slow.rider

    slow.rider Road Train Member

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  4. roundhouse

    roundhouse Medium Load 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 .
     
    Dockbumper Thanks this.
  5. 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!
     
  6. slow.rider

    slow.rider Road Train Member

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    ^ ^ ^ ^
    Troll
     
    Last edited: May 18, 2021
  7. runningman0661

    runningman0661 Road Train Member

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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.
     
    Jaebo74, Badmon, Qbf594 and 3 others Thank this.
  8. roundhouse

    roundhouse Medium Load Member

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    Depends on what the felony was for .
     
  9. Wespipes

    Wespipes Heavy Load Member

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    I'm a felon. I factor with apex capital. Me being a felon never even came up
     
    slow.rider and wore out Thank this.
  10. 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?
     
    Jaebo74 Thanks this.
  11. Wespipes

    Wespipes Heavy Load 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%
     
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