Home > Tools > News > The Problem With "Factoring"

The problem with "Factoring"

May 04, 2022 at 03:31 PM CST

Eight years ago, we cofounded Smart Freight Funding. Since then thousands of bulk haulers have used our service to simplify the freight payment process. We didn't like how other factoring companies locked carriers in to ridiculous contracts, charged hidden fees along with an outrageous rate, and still only paid a percentage of the load within 24-48 hours, and not the full amount. We wanted to do something about that, for the better, and especially for bulk trucking companies. We basically created an accounts receivable/payable person for your business without highering someone full time, and at a fraction of the cost to save you thousands. To your success!