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

Discussion in 'Freight Broker Forum' started by RandomChick, Oct 30, 2013.

  1. RandomChick

    RandomChick Light Load Member

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    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
     
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  3. LSAgentOZR

    LSAgentOZR Road Train Member

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  4. Oscar the KW

    Oscar the KW Going Tarpless

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    Freight brokers have "quick pay"

    Factoring companies "factor"
     
  5. RandomChick

    RandomChick Light Load Member

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    But some freight brokers do factor
     
  6. LSAgentOZR

    LSAgentOZR Road Train Member

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    Name them then please.
     
  7. RandomChick

    RandomChick Light Load Member

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  8. 281ric

    281ric Road Train Member

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    I have a couple of local friends (independent brokers not agents ) that do
     
  9. wilfredbacon15

    wilfredbacon15 Light Load Member

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    I think they keep them secret.
     
  10. 6wheeler

    6wheeler Road Train Member

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    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.

     
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