FAQ's (Frequently Asked Questions)

Q:  What is factoring?
A:  Factoring is the purchase of accounts receivable for immediate cash.  Factoring gives businesses the power to ensure growth without diluting equity or incurring debt.
 

Q:  Why would a company sell their receivables?
A:  Companies that find cash flow as a recurring problem often cannot afford to have cash tied up in receivables for 30-45 days.  They need the cash to meet immediate present financial demands of their business.
 

Q:  Do I need to factor all of my invoices?
A:  Absolutely not.  Carrier Finance realizes that you may not want or need to factor all of your invoices.  For that reason, Carrier's programs leave you free to decide which customers to factor and which to keep in house.
 

Q:  What are your requirements for buying an invoice?
A:  The work or service must have been completed, delivered and/or accepted; and your customer must be a creditworthy risk.
 

Q:  If a factor buys my invoices, who actually bills my customer?
A:  You prepare an invoice for your customer and forward it to Carrier Finance for an immediate cash advance.  Carrier Finance then bills the invoice to your customer and then follows up on it to ensure receipt of payment.


Q:  Do I have to be an established business, operating a minimum number of years, to be approved?
A:  No, Carrier Finance prides itself on assisting the financial needs of small to medium size businesses that are recently founded, as well as large established companies.
 

Q:  What types of businesses do you factor?
A:  Carrier Finance is a trucking industry specialist.  We factor receivables for trucking companies and transportation brokers.
 

Q:  How will I know the status of my factored invoices?
A:  You will be assigned to a professional Account Executive who will be your direct contact for any questions you have, or you can use our online reports.
 

Q:  How do my customers know where to send payments?
A:  When Carrier Finance purchases an invoice, a label is applied with our address on it before being mailed to your customer.


Q:  How do I receive my money from the factored accounts?
A:  You have a few changes that you may elect to change at any time.  Carrier Finance can wire funds to your account, ACH, wire funds into a Carrier Finance/TCH Fuel Card Account, send a check through DHL, or we can simply mail your check via US mail.


Q:  When do I receive the monies?
A:  Carrier Finance funds all verified invoices on the day they are received.  Same Day Service!! You can overnight your invoices to us today and have your cash tomorrow.


Carrier Finance wants to address any and all questions you may have regarding our services.  If the information you are seeking is not here, please call us at 1-877-250-2114 or Email us info@carrierfinance.com and we will be happy to assist you in any way.