Financial Matters

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  • 1.  Need suggestions on Broker Factoring Companies

    Posted 12-27-2023 10:01

    Hello Everyone,

    Can you please advise which factoring company is best for new brokers? 



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    Vijay Saini
    President
    VS Freight Solutions, Inc
    San Jose, CA
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  • 2.  RE: Need suggestions on Broker Factoring Companies

    Posted 12-28-2023 10:42

    We use Rev Capital.  Check them out.



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    Alex Sikes
    President
    A Plus Warehousing and Logistics LLC
    Bloomingdale GA
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    Original Message


  • 3.  RE: Need suggestions on Broker Factoring Companies

    Posted 12-28-2023 12:29

    I have only used HaulPay. They are a good company and rates are reasonable. Ask for Justin.  Digital Freight Finance, Payments and Load Board - HaulPay

    HaulPay remove preview
    Digital Freight Finance, Payments and Load Board - HaulPay
    ComFreight provides leading digital freight financing and payment solutions for brokers and carriers, and advanced freight load boards.
    View this on HaulPay >

     



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    Don Schierer
    ON IT Freight Systems, LLC
    Galax VA
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    Original Message


  • 4.  RE: Need suggestions on Broker Factoring Companies

    Posted 01-16-2024 07:14

    Check out Denim.com and ask for Phil Beam! He's great.



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    Ashley McMillan
    SMB Account Executive
    Trucker Tools
    Reston VA
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    Original Message


  • 5.  RE: Need suggestions on Broker Factoring Companies

    Posted 02-10-2025 15:04

    Were you able to find a factoring partner? Wintrust is a $65Bn bank that provides factoring lines of $2MM+ to freight brokerages. Happy to discuss if you'd like.

    Joe



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    Joe Panico
    Senior Vice President
    Wintrust Bank DBA Wintrust Business Credit
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    Original Message


  • 6.  RE: Need suggestions on Broker Factoring Companies

    Posted 10-02-2025 13:57
    Edited by Alicia Love 10-02-2025 14:06

    Hi, Joe

    I am ready to launch my freight brokerage. However, Single Point factoring advised, they will pay me, the broker within  24 hrs. of receiving the bill of lading and rate confirmation. The issue is, they will pay carriers on a NET 30. I cannot do that. I need someone to pay my carriers within 24 hrs. of submission of documentation. Do you know how I can resolve this issue? I signed a contract with them, and was told even if the carrier has signed up with them, Single Point factoring, the carriers using my brokerage, the NET 30 will remain in place. 

    Alicia Love

    CEO

    Knyction Inc. 



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    Alicia Love NBC
    Knyction Inc
    Sugar Land TX
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    Original Message