Cashway Funding

Freight factoring for trucking businesses

Carriers that want cash for delivered loads can use Cashway Funding, a freight factoring company for trucking businesses. A factoring account lets a carrier turn a delivered freight invoice into cash before the customer pays. Carriers send their delivery paperwork to the company by upload, email or fax, and the company says it sends the funds the same day.

Same-day funding without new debt

The company describes factoring as a way to be paid for loads already hauled, rather than as borrowing. Funds can be received by ACH deposit, wire transfer or the RTP network, which the company lists among its payment options. The company says the carrier takes on no debt and has nothing to pay back.

Account managers who clear obstacles

Each account is supported by a professional account manager. The firm says its managers help remove the obstacles that slow a carrier's cash flow, and that they handle the coordination behind each funding request. Accounts can be opened without a credit check, without a long-term contract and without a minimum freight volume, and the company says all types and sizes of trucking business are eligible.

Load boards for more freight

Cashway publishes a list of load boards, the online marketplaces where carriers look for freight. The company presents the list as a way to find more customers and freight, and to reduce deadhead miles, the empty return trips that cost a carrier money.

Fuel card and fuel advance program

The Cashway TCS Fuel Card is described as a way to simplify fuel management, with savings on fuel across a carrier's journeys. Through its Fuel Advance Program, a carrier can collect half the funding for an approved load as soon as it picks the load up, according to the company.

A service built for transport

The company says its factoring is designed exclusively for transportation businesses. That focus, it argues, allows more flexibility than general factoring companies or lenders can offer, and it makes the service suitable for for-hire carriers that need to be paid quickly for the loads they haul.

Cashway Funding is a freight factoring company for trucking businesses. Clients upload, email or fax delivery paperwork and receive funds the same day. The company says it has no minimum volume requirement, no credit check and no long-term contract.

Services

• Freight factoring accounts: a factoring account that turns unpaid freight invoices into working capital.
• Same-day funding: funds sent the same day that delivery paperwork is received.
• Account management: professional account managers who help clear obstacles in a business's cash flow.
• Load board list: a list of load boards for finding more freight and cutting empty return trips.

Clients

Trucking companies that want quick access to cash from freight they have already delivered.

Key facts

• Funding timing: same day after the delivery paperwork is submitted.
• Terms: no long-term contract, no minimum volume and no credit check.
• Support: account managers are included in the service.