FAQ

Frequently Asked Questions

Q:

A:

Factoring is a financing tool that provides your company with capital. Factoring is not a business loan. Rather, factoring involves selling your invoices at a discount for immediate cash. The factoring company waits to get paid, while you get immediate use of your funds.

Q:

A:

When an invoice is purchased by the factoring company on a non-recourse basis the factor takes the credit risk. Therefore, if the account debtor does not pay an invoice because of a credit problem TBS will take the loss. When an invoice is purchased under a recourse arrangement the client is responsible for repayment of an invoice if an account debtor does not pay for the invoice.

Q:

A:

TBS does not have a requirement pertaining to the length of time you have been in business. We work with brand new companies everyday. Basically, we only require that you have your own authority.

Q:

A:

No, TBS does not have any type of fee for signing up to use our services.

Q:

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No, we expect payment from your customers, we do not have credit standards that you must meet.

Q:

A:

When you send the completed application and associated information to TBS we can normally have you signed up and ready to go in just 24 hours. If you request a faster turn around we can usually honor that request.

Q:

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No, you can choose which companies to factor and which companies you do not wish to factor, flexibility not offered by most truck factoring companies.

Q:

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We need a copy of the rate sheet, proof of delivery, and a completed Exhibit B (a TBS in-house form that will be provided to you). We will make the invoice and bill the customer and send you your money.

Q:

A:

Unless there is a problem with the load, it will be verified and paid the day TBS receives the paperwork.

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Money is sent directly into your account electronically by bank wire or ACH.

Q:

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Please call us at (800) 207-7661 and we will clarify any questions you have about factoring in general or the programs at TBS, the number one freight bill factoring company.

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We Take You Farther

  • TBS Factoring Service – provides cash flow solutions with simple freight bill factoring.
  • Truckers Bookkeeping Service provides MC, permitting, and DOT compliance services to help trucking companies stay in business.
  • TBS Insurance Agency – will customize a policy that is just right for your business.
  • Elite Dispatch Service – provides logistics services for motor carriers nationwide.