There are two different types of truck factoring: non-recourse factoring and recourse factoring.
Non-recourse factoring for commercial trucks involves a factoring company taking the credit risk involved with insuring the freight load. This type of factoring is well-suited for trucking companies that possess a small number of trucks who have several different customers.
Benefits of non-recourse factoring include: no hidden sign up fees, no minimum on credit scores, no specific requirement on volume of freight, and the ability to not sign a long-term contract.
TBS Factoring will be able to help you set up a non-recourse factoring account for your company. To learn more about freight factoring and the non-recourse option, please contact TBS Factoring by calling 800-207-7661 today.