lets talk factoring

Discussion in 'Ask An Owner Operator' started by pavrom, Jun 9, 2021.

  1. pavrom

    pavrom Road Train Member

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    i am looking for better option
    i am @2% but last 2 months i had more issues than last 3 years
    last 2 days can't get ahold of anyone at all
    can you guys pls share of your experience with blood sucking companies
     
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  3. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    As in you're not getting paid at all?
     
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  4. zinita17601

    zinita17601 Road Train Member

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    Been in my own since 2013,signed up with triumph business capital 4 months ago so i can work with more brokers and limit the risk.
    3% non recourse everything done on the website no need to talk to anybody,so far so good
     
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  5. Atlanta trucker

    Atlanta trucker Road Train Member

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    Strengthen your profit and loss statement
    That will allow you to strengthen your balance sheet which will allow you to say no thank you to the finance industry.
     
  6. pavrom

    pavrom Road Train Member

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    I use factoring because i have far better return on the money i could save per you working without .
     
  7. pavrom

    pavrom Road Train Member

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    I do get paid but once a month they forget to process 2-3 invoices , they submit their paperwork sometimes 3 weeks later after receiving from me ( had ton of brokers calling requesting BOLs 2 weeks later after i submitted to factoring ) , and the new BS is - i submitted 30k in invoices and got 2500 only , asked for the reason - you are out of credit ....WTF
     
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  8. pavrom

    pavrom Road Train Member

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    Will probably talk to them tomorrow , you are 3rd one mentioned them
     
  9. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    Mmmmm sounds like they are cash poor.
     
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  10. slow.rider

    slow.rider Road Train Member

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    There's a guy on YouTube with a bunch of trucks leased on his authority, he recently put someone else in his own truck and now just works the office. He was using a company called Thunder Funding and had a lot of good things to say about them. Not sure if he's still using them but he calls his company YouTube channel The Big Rig Radio Network. He might still have some vids up discussing them.
     
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  11. pavrom

    pavrom Road Train Member

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    I was very happy with them at some point but lastly its been nightmare
     
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