Factoring Process

Match Factors, Inc. offers a very simple factoring process. Here’s how it works:

1. Customer places load order.

Obviously the first step in the factoring process is for your customer to coordinate with you hauling their freight. In the transportation industry, your customers will consist of brokers, freight forwarders, or shippers.

2. Move your freight.

The second step in the factoring process is for you to haul freight for your customer. We strongly encourage you to verify your customer’s credit with us before you move any freight. This will minimize your risk and exposure. Free credit checks in included in our factoring program.

3. Send us your invoices.

The third step in the factoring process is for you to send us your invoices. You will bill your customer in the usual way; however you send the invoices to us instead of your customer. Invoices must include your invoice and all the pertinent load attachments, including original/signed/legible BOL’s, rate confirmations, and scale tickets.

4. We will advance you 95% on your invoices.

Once we receive your invoices, we will fund you the same day or within 24-hours upon receipt of your invoice, depending on your funding preference. Unapproved customers, improper load attachments, misdirected payments, shortages, damages, advances, late fees, claims and rate changes could affect the funding process.

5. Invoices are mailed to your customer.

After you are advanced on your invoices, we will then forward your invoices to your customer. All invoices are mailed to your customer the day we fund you. We don’t hold onto your invoices. As soon as your invoices are mailed, we will begin the collections process. We don’t wait 60-days after we fund you to begin our collections efforts either. Our collections efforts begin soon after we mail the invoices. Throughout this stage, we will keep you fully informed on the status of your invoices.

6. Your customer remits payment to us.

The factoring process is complete once we receive invoice payment from your customer. In the transportation industry, the typical turnaround time for invoice payment is 45 days. Any short paid or unpaid invoices are offset against your reserve account or future invoice submissions. In addition, our recourse policy is 90-days, which means we have a three month period in which we try to collect your invoice payments.

Match Factors believes in making the factoring process simple and easy. To get started today, simply complete our online application or contact us.