Asset Based Lending (Ledgered Line of Credit)
This product is very competitive and ideal
for trucking and transportation companies and freight brokers that
prefer a line of credit instead of factoring, or for those carriers
that presently have a line of credit but would like to get out from
the strict requirements imposed to them by their lender/bank .
This funding option offers an ABL pricing structure, typically prime + %, plus a service fee. The service fee is charged on the gross amount of the invoices, interest is charged from the day borrowed until paid down, thus controlling the cost of financing.
And, unlike a traditional bank line, it does not require audits and almost no covenants, ratios, concentrations requirements , etc. Rates are very competitive and based on the overall merits of the transaction, which depends on risk, number of customers, credit, etc. This freight funding option is part of our affiliate program and subject to normal underwriting criteria and final approval.
INTERESTED IN FREIGHT FACTORING?
We offer a very competitive freight factoring program for "High-Volume Factoring", the basic terms include:
Maximum: $35 Million (availability as you grow)
90-Day Rate: 0.75% (Our objective is to beat our competition)
Advances: Up to 90%
START THE SIMPLE FUNDING PROCESS