CarrierNet

Freight factoring that pays trucking companies sooner

Trucking businesses turn to CarrierNet when they want invoices paid sooner. The company says it has supported the trucking industry since 1989. Its team, which the company says has four decades of work across finance and transportation behind it, offers funding that can arrive as early as the same day, with invoices submitted from a mobile device.

How factoring works

Freight factoring means a transportation company sells its freight invoices to a factoring company at a discount in return for payment sooner. The company says this lets trucking businesses improve cash flow without taking on debt. Carriers apply for an account, receive guidance from the team and then submit invoices as they are delivered.

Checking brokers before a load moves

Because a factor pays against the invoice, it needs confidence that the broker who booked the load will pay. CarrierNet says it checks a broker's credit so that the carrier is covered and the load can be financed.

Fuel and cost tools

The company runs a fuel card discount program, which it says offers savings at more than 1,100 stations, including Pilot & Flying J, Speedway, Sapp Bros and Mr. Fuel. It also publishes average cost-per-mile figures for every state, drawn from more than 30 cost categories and weekly federal fuel rates, to help owners judge what a load should pay.

Education and values

The firm publishes articles aimed at owner-operators and fleets, written by its team on factoring, margins and cash flow. Its stated values are hospitality, prudence, lifelong learning and purpose, and it says it wants to be more than a factoring provider to its transportation clients.