Factoring with eCapital - Thoughts and experiences?

The point is that it is false that pre-paid means that the freight is paid for before shipping and collect means payment when delivering.

And that was the first one to come up to explain the terms.

And if you are going to say the DL Federal LLC taught an advanced trucking course in 1999 when it was organized in October 2013 then at least give the name it was when you did this. And if you were teaching advanced trucking in 1999 why were you buying "freight claims in plain English(2009)"ten years after teaching this?

 

Can I ask why?

 

I know one of my customers marks up my rate 15% and passes that right along to their customers. Made me think unethical for a moment, but could be justified as the time/expense required to arrange the transportation.

 

A week ago I hauled a load for TQL that was prepaid. The broker told me that the shipper was setup on a prepay basis and I cannot be dispatched until payment is received.

 

They are my part-time A/R department. No dealing with a W2 employee, sick days, etc. Everything is electronic from the invoice to the bank deposits. I'd say there were two times the service was most beneficial. First, when getting started, the immediate cash flow was a plus. Having their fuel card and the ability to issue comcheks was also a big help. Next time was when I put the second truck on the road. Helped get through some challenging times and was able to field a driver every bit as equipped financially as ones with a bigger company are.

That said, I am shopping again. Now that we're into our 4th year in business, our current arrangement is not as good a fit as it was even a year or two ago. I may end up re-negotiating with eCapital as I've already done once, but Danny's story would definitely give me second thoughts on doing that. Other options might include leveraging the office staff of a partner (another larger carrier) or doing a dropbox or the like with my bank. Kind of early to say right now. One of those deals where I'll know it's the one when I see it.

 

Keywordrepay....
Prepaid usually means shipper has and account and in most cases pays either once a month or in 30 days.

 

Yes, new name beginning of this year. Same people, but do not know all the details re ownership. Their home office address is now NV not CA, probably fled CA for a more favorable tax situation.

 

Brokers merging since bond was raised.