For Freight Brokers: What are your rates for you to factor your invoices?

Hi,

I have a quick question. I found a lot of information regarding the the factor rates for motor carriers, but I can't get my hands on the actual rates freight brokers get from factoring companies. I see a bunch of teaser rates, but what are the rates you've actually experienced? Please let me know. Thanks!

Rachel

 

I don't factor.

 

Freight brokers have "quick pay"

Factoring companies "factor"

 

But some freight brokers do factor

 

Name them then please.

 

http://www.steelheadfinance.com/brokers

 

I have a couple of local friends (independent brokers not agents ) that do

 

I think they keep them secret.

 

Yea I would like to know too. If a broker can get a Factoring Company to handle the invoices for carrier's, then a broker doesn't need $25,000 in the bank to wright out checks every week. Just past along the invoices for a small fee. I can see how a lot of start up brokers get in business like this.