Platinum Plan Exclusive: Freight Factoring

One of the most important rules in sales is knowing your product inside and out. As a TVC Pro-Driver sales associate, you should be knowledgeable about plans and understand relevant terminology.

For example, TVC partners with TBS Factoring to provide Platinum plan members with exclusive freight factoring services — but what does that mean, exactly?

To be eligible to factor, drivers must have their own Motor Carrier Authority. Many carriers can’t wait 30 to 60 days for brokers and shippers to pay freight bills. That’s where freight factoring comes in!

The service improves truckers’ cash flow by paying them the same day they deliver their loads. In other words, factoring puts money in independent drivers’ hands by simply purchasing their invoices at a discount and processing same day pay. Drivers send their qualified freight bills with proof of delivery to TBS, and they’ll receive money in the bank.

Two funding options are available:

  • Low-rate recourse factoring
  • Fixed-rate non-recourse factoring (the most popular option)

There is no monthly limit to the number of loads factored, and drivers may pick and choose which brokers/shippers they want to factor. Advance rates are kept constant so the carrier always knows what to expect. Plus, TBS handles all the billing, meaning truckers can focus on their jobs.

To sign up for factoring services, Platinum plan members can simply call TVC at 405-843-2722.

It’s that easy. The next time a prospect asks you about factoring, you’ll have all the answers!