Whether you’re an owner-operator or a large fleet, Love’s Financial can provide customizable factoring solutions to help grow your business. Freight factoring is a smart solution to manage your cash flow, and cover expenses like fuel, insurance, maintenance and payroll without creating debt for your business. In addition to providing immediate payment on freight bills, Love’s provides unbeatable customer service while helping grow your business.
We can combine your factoring solution with any number of added services at our nationwide network of travel stops, such as fuel discounts, no fee credit line on Love’s Express Billing Program, Love’s Truck Tire Care and Speedco, Emergency Roadside Service, light mechanical services, lube and preventative maintenance – all delivered with the Love’s commitment to outstanding customer service.
Freight factoring is a financing method in which a trucking company sells their accounts receivable at a discount to a third-party funding source to increase cash flow. In other words, Love’s Financial buys invoices for the loads you’ve already delivered then collects from your customer.
Our team will prepare a customized plan based on the needs of your business. Once approved and setup is complete, you simply send us your invoices along with proof of delivery and Love’s will pay you within 24 hours and generally the same day. You can continue to focus on running your business while we collect from your customer. When you freight factor with Love’s Financial, you also have greater access to many other Love’s products and services - all delivered with the Love’s commitment to outstanding Customer service.
Whether you’ve just started your own trucking company or have been in the business for a decade, it’s important to consider the different types of freight factoring to determine what is best for your business.
Non-recourse factoring is a type of factoring facility in which the factor assumes the risk of non-payment if the customer does not pay the invoice due to an insolvency or a credit event, even if bankruptcy is not filed. When factoring with Love’s Financial, once we purchase your freight bills, you have no further liability. We will not charge them back to you in the event of non-payment, as long as the non-payment is not from a claim, dispute or short pay.
Freight Factoring with Love’s Financial offers competitive Non-Recourse factoring plans. If you’d like more information, please call us at 1-855-495-LOVES (1-855-495-5683), 901-255-8330 Memphis sales number (Quick-Funding Office), or fill out this form below.
With recourse factoring the trucking company retains liability for the ultimate collectability of the factored invoice. As this carries less risk to the factor, recourse factoring is generally available at a lower discount rate. The factor purchases the freight invoice from the trucking company, but it may become uncollectible for any number of reasons (e.g. file bankruptcy, go out of business, claim/dispute on the load, etc.) which may result in a “charge back” to the trucking company.
Freight Factoring with Love’s Financial offers competitive recourse factoring plans. If you are interested in a custom quote built specifically for your trucking company, please reach out to our sales specialists for more information on recourse factoring. You can call us at at 1-855-495-LOVES (1-855-495-5683) or fill out this form online.
At Love’s Financial, our goal is to help take care of your business so you can focus on driving. When you partner with Love's Financial, you get access to services that help your business like freight factoring, fuel discounts, truck maintenance, and our newest offering: TMS software. Teaming up with AscendTMS gives you premium software at no cost for one year.
The oil and gas industry can be full of booms and busts, which is why Love's Financial is here to provide financial consistency for your business. Our customized factoring solution is a simple process in which you sell us your accounts receivable and collect funds within 24 hours instead of the traditional 60 to 90 days. Regardless of your specialty within the oilfield, our funding is here to increase your cash flow while saving you time and money. Click here to get a quote today!
Let our freight factoring specialists show you why Love’s is “The Better Way to Factor.” We offer both non-recourse and recourse options for individual invoices up to large receivable portfolios.
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