good factoring company?

10 days isn't fast enough? You need more in reserve ... You want to get to a point where you don't need to give up ANY % of your agreed rate ... and hopefully get there sooner rather than later.

 

He won't "get there" giving away margin to factoring companies. 4% is HUGE!

 

And you're forgetting about all the extra fees they charge you to get paid. IN the short term however if it can get him out of a jam it's not going to kill him. The trick of the matter is to only factor a few accounts and to bill out the rest under his authority. Yes its technically breach of contract, but who cares the factoring company is screwing you from the get go.

ABC (advanced business capitol) isn't horrible.

Stay away from Trans Am at all costs. I'm still under contract with them and I am NOT happy with them. Thank god for dedicated disptach and hooking on with a company that'll bill out so I don't have to worry about that crap. Both my truck are running for companies that offer fuel cards, and dispatch us directly. Yes they take a percentage for trailer rent and booking loads. That's understandable, they're doing what a dispatcher can do but they keep the trucks moving that's the main part of it and I don't have to worry about booking loads and what not or if a truck's going to be sitting for a couple days. There are numerous options out there for cash flow issues. Everybody's situation is different. Sometimes that is the answer. If you have time and means to book loads on the road sometimes factoring is the way to go. Personally I'll never do it again.