Factoring for carriers and owner-operators
Freight factoring is where Rapidfire Pay started, and it is still the largest part of the book. You haul the load, submit the invoice, and get funded, instead of waiting on a broker's payment cycle.
What we hear from transportation companies
- Fuel, repairs and payroll come due long before a broker pays
- Brokers who stretch 30-day terms into 60 or 90
- No easy way to check whether a new broker actually pays
Who this fits
- Owner-operators
- Hotshot carriers
- Small and growing fleets
- LTL and expedited