TBS is here for you with funding solutions in this difficult time. Learn More
TBS is here for you with funding solutions in this difficult time. Learn More
Freight factoring is a financing tool that provides your company with immediate capital. Not a business loan, factoring involves selling your invoices at a discount. In turn, you get immediate cash, and the factoring company -- not you – waits for payment.
When an invoice is purchased by the factoring company on a non-recourse basis, the factor takes the credit risk. In other words, 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.
TBS does not have a requirement pertaining to the length of time you have been in business. We work with brand new companies every day. We only require that you have your own authority.
No, TBS does not have any type of fee for signing up to use our services.
No, we expect payment from your customers and do not have minimal credit standards.
Once TBS receives your completed application and associated information, you are typically signed up and ready to go in just 24 hours. We can usually honor faster turnarounds.
No, you can choose which companies to factor and which companies you do not wish to factor -- flexibility not offered by some truck factoring companies.
We need a copy of the rate sheet, proof of delivery, and a completed Exhibit B -- a TBS in-house form that we provide. Then, we create the invoice, bill the customer, and send you your money.
Barring a problem with the load and verification, you will be paid the day TBS receives the paperwork.
Money is sent electronically directly into your account by bank wire or ACH.
Please call us at (855) 772-0547, and we will clarify your questions about factoring in general or the programs at TBS -- the number one freight bill factoring company.
