Non-recourse freight factoring gives truckers, fleets and transportation companies the ability to haul their loads with confidence. Non-recourse freight factoring gives companies the ability to respond to all business expenses without having to wait for their invoices to process. Phoenix Capital Group, the factoring company, is essentially ensuring the receivables for the factoring client. If a customer does not pay, or pays invoices slowly, then Phoenix Capital Group assumes the risk of nonpayment so you can keep your working capital.
Non-Recourse Factoring
Phoenix Capital Group
If you have a non-recourse agreement, your factor completely assumes the risk of non-payment by your customers, regardless of the reason.
Here’s how recourse freight factoring for truckers works:
- Once you book a load, truckers may email details about the customer, the load, and the rate confirmation to the factoring services company (PCG).
- Phoenix Capital Group then notifies the truck driver to inform them whether or not their customer was approved for load factoring.
- Next, the trucker delivers the load to their customer.
- Once the load has been delivered, the trucker may email or mail the bills of lading and load-related documents to Phoenix Capital Group.
- Within 24 hours, Phoenix Capital Group will initiate a direct deposit to the truckers bank account for the amount of approved charges
- Once the trucker’s customer has paid the invoice, the trucker will receive the remaining balance.
- The benefits of non-recourse freight factoring is that if a trucker’s client goes bankrupt or can not pay, Phoenix Capital Group assumes the risk and pays the truck driver the money they rightfully earned.
Benefits of Phoenix Capital Group’s non-recourse freight factoring program:
- Phoenix Capital Group assumes the risk of nonpayment from trucker’s clients.
- Increase trucker’s business cash flow without creating debt or taking out a loan.
- New accounts can sign up within 24-hours.
- All PCG clients have online account access 24/7.
- Non-recourse freight factoring is low risk for PCG clients.
- Advances sometimes up to 100% of invoice value on non-recourse factoring.
- Clients have no minimums and no long term contracts.
- No minimum time required for your company to have been in business.
- Apply online today and receive no application fee.
- We are a one-stop transportation service company; explore our website for other services:
Equipment financing, fuel card programs, and a free online load board. - Truckers receive free online credit checks for your customers.
- Talk to real PCG representatives on the phone regarding all factoring services.
- Truckers are able to stop by our office to talk to a representative.
- Get to know PCG by attending trucker trade shows and by reading more about us here!
- Each client at Phoenix Capital Group gets an account manager to handle all their paperwork.
- Stay connected with PCG and industry news by following us on social media.
- Subscribing to PCG’s newsletter keeps you in the loop, and you’ll never miss out on giveaways.
