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Rates from
5.4% to 6.9% NON-RECOURSE "Using your factoring service gives me peace of
mind, because I don't have to wait 30, 60 or 90 days to get paid any more.
You make it easy! I like being able to overnight or drop off my freight bills
in your office and have the money loaded on my Comchek card. Getting money
right away helps pay for over the road expenses and keeps my truck rolling." Jorell McMillin |
Account ManagementDon't let your factoring relationship be an administrative burden. Through our online Account Management Center, you can monitor each step of the factoring process at any time. View accurate, easy-to-understand custom reports that you control, have 24 hour access to credit information on thousands of the most popular freight customers and more! You will receive a username and password to our web site upon becoming a FactorLoads customer. When you login to the Account Management Center, general information about your account is displayed, along with any custom messages specific to your company. There are also links to policies, procedures and information about various special programs we offer to our factoring customers.
We make it quick and easy for you to manage your business relationship with us. You can run reports to see detailed, easy-to-understand information about freight bills factored, FedEx deliveries and charges, Comchek card reports and much more. When you want information, you can get it instantly at the click of a button. There's no need to call a portfolio manager, like other factoring companies would have you do, and wait for a fax that's difficult to understand. There is no need to call, because our online account manager lets you know.
With our VRU, you can verify funding, get current Comchek card balances, register Comcheks from your card and make direct deposits to your checking or savings account.
Timing is everything when you find a great paying load to haul, have never worked with that customer, and have to decide whether to accept it? The instant ability to check credit worthiness of almost any customer is critical to the success of your business. Our database is updated daily and provides free credit information on thousands of the most popular customers. If the customer is not listed, call us for a free credit check. Credit scores change daily, and a customer's status can change overnight. Customers on Credit Watch are always highlighted in yellow. Before the credit status of an approved customer changes to denied, they usually surface on our Credit Watch list some time in advance. Customers in our database are listed as either approved or denied for factoring. If the customer is approved, we will purchase the freight bills. If the customer is denied, we will not purchase the freight bills. Customers are denied because they do not meet our credit standards or have a history of paying freight bills in 45 to 60 days or more.
When you search for and find the approved customer, simply click the company name to submit a factoring application for that load. You must complete a factoring application for each freight bill you want to factor. It only takes a minute to provide some basic information about the load. After submitting the factoring application, deliver the load and send us your freight bills. The day we get your freight bills, you will be paid by Comchek or Comchek card in full, minus our 6.9% fee.
Custom reports let you see everything you factored during any period of time. Information is provided about customers, load numbers, load rates, factoring fees and the amounts funded. With all of our reports, what you get is accurate, instant and easy to understand. One click displays a complete list of customers, including their location and MC number. Many customers, especially the larger ones, have multiple agents and offices. We've got that covered too. Each unique location is listed in the report. You can even display what you've done with each customer. The detailed breakdown provides load numbers, funding dates, freight rates, factoring fees and the amounts you were funded. Report information is archived in our database, so you can always get what you need.
FactorLoads customers get FREE Comchek cards. Comdata Comchek cards and regular Comcheks are used to provide funding for the freight bills you factor. Our Comdata Cards can be used to access funds from more than 600,000 ATM locations, plus most all point-of-sale locations that allow you to swipe a card and enter the PIN number. Our reports show you card loading histories and more. Comdata doesn't even offer custom card-level reports like this to its individual card holders, but we do. You can track exactly how each card is used for phone calls, ATM withdrawals, VRU calls to register Comcheks, debit transactions at the point of sale and much more! Run reports for any card during any period of time. See dates, times, locations, gallons purchased, price per gallon and other useful information to manage your trucking company's cashflow.
If you need information that our Account Management Center does not offer, then just call 1-866-218-0030 to speak with one of our friendly account specialists. |