Since 1986, Nationwide Transport Finance has provided the transportation industry with Non-Recourse (we assume the credit risk) accounts receivable factoring – we buy your freight bills.
Our program is simple. Concurrent with your opportunity to accept a freight assignment from a direct shipper, consignee, broker or forwarder our staff stands ready to provide you with a funding commitment if the billed party meets our credit criterion.
We fund your freight bills the day we receive them.
We do the collecting on the bills as they fall due, and we bear the burden of credit risk.
When a freight bill payment is received by N.T.F., the payment is immediately applied, and the remainder due to you is immediately credited to your account, less a fee determined by how long it took for the bill to collect.
The advantage of a non-recourse factoring program is that if a credit default occurs and the debtor does not pay, you still keep the initial funds received from N.T.F. when we purchased the bill, and suffer only from not getting the collection residual. N.T.F. bears the entire loss of principal and income!
N.T.F.’s non-recourse program looks solely to the billed party as the primary repayment source, as opposed to other lending programs where you are considered the borrower, and receivables that prove difficult for the recourse lender to collect are charged back to you including a fee for your use of the lender’s money. N.T.F.’s non-recourse program virtually eliminates your need to incur bad debt!
N.T.F. does not require that you maintain a cash deposit based on the receivables purchased, like many other receivable lenders who mystically offer larger initial advance percentage – in reality they are just using your money for the higher advance.
Under the current economic climate, most trucking and third party logistic companies are experiencing customer payment habits of 36-43 days after billing.
Our value added services include assistance in identifying credit risk and, via our direct computer link with numerous national credit agencies and our historic database of past payment performance, we extend to our customers assistance in avoiding the “less desirable” high risk assignments and steer them towards the profitable assignments from a first experience, creditworthy shipper or third party, based on N.T.F.’s commitment to purchase the bill upon delivery fulfillment.
Upon processing your freight bills, N.T.F. can provide funding in the following ways:
- A.C.H. bank transfer direct to your checking or savings account
- Com-Chek™ immediately all available funds to you
- Load funds onto your N.T.F. FUEL CARD
- Save your funds in a trust (reserve) account for your use in issuing daily Com-Cheks™ as needed
- Send a physical check to you via U.S. Mail or Fedex for deposit into your own checking account
Our capacity to fund your freight bills upon receipt, and forward your funds via ACH Bank wire to your checking account or Com-Chek™, results from N.T.F’s credit relationship with one of the largest lending institutions in the U.S. Additionally, working in conjunction with our affiliates located throughout the US and Canada, we can influence the payment habits of most debtors, and if necessary via local direct contact.
Our Maturity Factoring program helps minimize factoring fees by deferring the funding of your invoices until you need funding. Under this program you tell us when you need cash and the factoring fee clock does not start until we buy your freight bills.
No Hidden Fees – A Comparison of Costs
Other than our agreed upon factoring fee (not taken until we receive payment from your customer) N.T.F. has no hidden fees. Unlike other factoring companies who take advantage with an array of hidden fees, we only pass along the costs associated with getting your money to you faster.
|Description||Competitor Charge||N.T.F. Charge|
|Initial Setup Fee||$200.00 – $500.00||No Charge|
|TERMS||12 month contract||No minimum terms|
|Early Termination Fee||1 – 1.5% of monthly volume||No Charge|
|Minimum Monthly Volume||$25,000.00 a/r||No Min. Monthly Volume|
|Extended Credit Check||$19.95||No Charge|
|Postage||$0.37 to $3.50 per item||No Charge|
|Postage on re-bills||$1.95 plus actual||No Charge|
|Address Corrections||$3.95||No Charge|
|Invoice Corrections||$3.95||No Charge|
|Deposit Check Charge||10% – 16% of invoice amount||No Charge|
|Excessive Fax / Photocopy||$1.00 per page||No Charge|
|Handling Fee||1.0% per new invoice||No Charge|
|Com-Chek™ Fees||Varies||$4.00 per $1000.00 rec’d|
|ACH Direct Deposit||Varies $5.00 – $25.00||$1.75 per transfer|
Our historical and financial information is readily available through Dun & Bradstreet, who has assigned us a 3A2 rating, and we have been in business for 28 years.
Very few receivable lenders assume the risk of credit default and, in particular, receivables related to the transportation industry! As opposed to providing a receivable financing program “for everyone”, N.T.F. concentrates its expertise and diligence exclusively on this industry segment – thereby providing its customers with specific and timely services relevant to your unique industry.
Compare the costs of factoring to the potential of generating additional revenue because you get paid the day after mailing your freight bills. While your competitor might have to cut back his load dispatching, waiting for a check from his customer to settle with his drivers and fuel his trucks, with factoring, you can take the next load and keep the trucks running.
If you have any further questions regarding Nationwide Transport Finance and how our programs work, we open our office every weekday at 4:00 A.M. Pacific Time (7:00 Eastern Time) and our staff can answer any questions you might have all thru the day. Please fill out the ultra simple request for more information form on this site, or call us at (800) 624-3353 and mention you want more information about factoring.
Speak to one of our factoring specialists
Fill out our 30-second inquiry form to the left or call us toll free at (800) 624-3353 to get started.
- Non-Recourse factoring
- Funding on fax or email copies
- No application fee, no long term contract
- No monthly minimum volume
- Collection rebates available immediately
- Online access to your account
- Free timely credit checks
- Eliminate credit risk
- $1.75 per ACH direct deposit (multiple invoices)
- Comcheks and Transflo Express Truckstop scanning
- Comdata Fuel Cards at no cost to you
- $.07 / gallon discount at Wilco-Hess
- Professional customer service