Thousands of carriers and brokers across the U.S and Canada utilize invoice factoring to help grow their businesses. Invoice factoring works so well for trucking companies because it is a way to receive funds quickly on delivered goods, instead of waiting on payment terms from customers. This enables a trucking company to pay their drivers, fill up their gas tanks, and have the necessary funds to make any needed repairs or other expenses.
It is really quite simple:
The cost of factoring can vary a lot depending on a number of different things, such as how long it will take for your customer to pay.
There are two main ways that factoring fees are charged: 1) Tiered and 2) Flat fees.
Typical fees will range from 1-3% of the invoice value. To learn more about fees please check out our article at www.merituscapital.com/comparing-factoring-fees. At Meritus Capital our fees start as low as 0.3%!
To find out more about Meritus Capital's program, feel free to contact us at 1-877-648-3709
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