Transportation Rates and Services
flexible programs,high advances
One of our specialties! We have been factoring for the transportation industry for over 40 years. We have signed thousands of clients and funded billions. We understand your business and how it works the best with a factoring company.
Fastest Factor in the West!
No No Set Up Fees
Funds within 30-90 Minutes
No Personal Credit Check Required
Non-Recourse Available
Same Day Reserve Release
No Minimum Volume Requirement
No Hidden Fees
Factor What You Want
24 hr. Application Approval
Online Account Access
Knowledgeable, Friendly Staff
Cost saving services covered by UC Factors:
Investing in Your Success
Credit Reporting
Credit Analysis
Credit Protection on Non-Recourse Accounts
Invoice Billing Administrator
Collections on Factored Accounts
A/R Management & Reporting
Another cost saving service we give our clients is their account analyst’s reviewing their invoice’s and documentation to ensure all necessary paperwork is in place and accurate for your customer to remit payment without incident. A few examples are, they will help ensure the billing address and/or email address is accurate, and current according to the documentation and our records, that the correct back up paperwork is attached to the appropriate invoice for billing, and that the pricing noted on the invoices has no discrepancies. Any mistakes will be brought to your attention so you may fix them before your customer sees that a mistake was ever made.
How much do you think all these services would cost you if you were to purchase them yourself? You would also need to increase your staff to cover the administration portion of these services, which means payroll, workman’s comp, insurance, and paid time off. Something to think about when assessing the rate of a factoring company.
how rates work
There are several variables in quoting rates to a prospective account, so there is no one size fits all rate. Yet, we have been factoring transportation accounts so long, we can accommodate most accounts with a flat rate.
Rates generally range from 1.00% to 3.0% per 30 days. Advances usually range from 85% to 95%.
Example: If a $ 2,000.00 factored invoice pays at 30 days, and your factoring fee is 2.5%, your factoring fee would be $50.00.
Depending on the services covered by factor, sales volume, credit worthiness of your debtors, average size invoice, and the administration involved, the fees will vary in range from 1%-10%. This is normally a scaled percentage based on days. A flat rate can be obtained in negotiations.
When the decision is made to work with a Factoring company, it important you compare them accurately and ask questions regarding any other fees not noted or brought up in initial sales process. Hidden fees tend to be more prevalent for transportation accounts. I’m guessing since this industry is such a competitive market for factors, they must feel the need to offer teaser rates to grab your attention. These rates don’t allow them to make money, so these hidden fees help compensate them. Either way, you are paying more than you thought for their factoring services. Time and time again, we talk to prospects who are not getting the rate they thought they were quoted or they are paying more than they thought because of hidden fees.
Visit our Transportation Blogs for some interesting reads.
Apply now, get an honest, upfront, rate and service quote from UC Factors.