How It Works: Recourse Freight Factoring

Freight Factoring Services

How It Works

Freight factoring is a significant term in the trucking and transportation industry. PCG’s representatives do everything in their power to make every term and condition clear to clients. Below clearly defines the term ‘freight factoring’ and the factoring process, once a truck driver becomes a Phoenix Capital Group client.

factor freight invoices
transportation funding
trucking freight factoring

Freight factoring:

Freight bill factoring helps trucking companies across the country respond to all business expenses like payroll, fleet fuel and maintenance without having to wait for payments to process. Freight factoring is an easy way to manage cash flow for your trucking company. Factoring is money that is advanced on accounts receivable.

Phoenix Capital Group has partnered with independent truckers and trucking companies of all sizes to help simplify and strengthen their trucking operations. It is common for truck drivers and transportation companies to have to wait 30, 60 or 90 days before receiving invoice payment for loads hauled. Phoenix Capital Group purchases our clients invoices quickly and gives them same-day funding.

Here’s how freight factoring for truckers works:

  1. The trucker will fax or email details about the customer, the load, and the rate confirmation to the factoring company (PCG) before booking the load.
  2. Phoenix Capital Group, the freight factoring company, then notifies the trucking company whether the customer was approved for load factoring or not.
  3. If the customer is approved the trucking company accepts and delivers the load.
  4. Once delivered, the company provides the bills of lading and load-related documents to Phoenix Capital Group.
  5. Within 24 hours, Phoenix Capital Group will initiate a direct deposit to the company’s bank or fuel account for the amount of approved charges.
  6. Once the customer has paid the invoice, any remaining balance owed the trucking company will be credited to their account (if applicable).

Benefits of Phoenix Capital Group’s freight factoring services:

  • Increase business cash flow without creating debt.
  • 24-hour setup time for new accounts.
  • Clients have online account access 24/7.
  • Low freight bill factoring rates.
  • Advances up to 100% of invoice value on freight factoring.
  • Clients have no minimums and no long term contracts with PCG.
  • No minimum time required for your company to have been in business.
  • Apply online with no application fee.
  • We are a one-stop transportation service company; explore our website for other services.
  • Truckers receive free online credit checks for your customers.
  • It is easy to use credit rating system.
  • Talk to real PCG representatives on the phone.
  • Truck drivers are welcome to stop by our office to talk to a representative during business hours.

Click here to contact a PCG representative regarding freight factoring: