Freight Broker Factoring with “The Broker’s Factor”
Steelhead Finance takes pride in being named “The Broker’s Factor” as we have helped many brokers thrive, locally and nationally.
Unlike many transportation factors, Steelhead Finance understands the different needs and tools that are critical to a freight broker’s success. We recognize that the relationship you’ve established with your shippers is extremely valuable. We also know your reputation in the industry is vital to your success. Our program for factoring brokers is tailored with your needs in mind and provides the effective tools and services.
Read about our Freight Factoring Carrier Payment Program
A Broker Factoring Program Made Simple
At Steelhead Finance, we design each Transportation Broker Factoring Program to be sensitive to your needs and the needs of your specific business. The basic components around which we build a factoring program include:
1. RATE – Steelhead Finance will put a factoring quote together for you to offer the best broker factoring rate for your business. GET A QUOTE
3. TRANSCHECK AVAILABILITY– Steelhead Finance offers TransChecks as a controllable payment instrument for you and your drivers. Drivers can carry TransChecks in case they need funds for tollbooths, weigh stations, unexpected bills or repairs. Online tools assist in keeping track of TransCheck transactions and run reports to know which checks were used by which driver.
5. CREDIT SERVICES – Our Credit Department is your Credit Department. Steelhead’s professional credit staff is available to assist you in determining whom you may or may not want to do business with. Our extensive credit database includes bank and trade information verified by our Credit Analysts along with information gathered from our access to multiple national credit bureaus. No additional charge.
24/7 Online Credit Checking – This allows you to make informed credit decisions on potential customers at any time you need to, and not be limited by business hours.
6. BILLING FOLLOW-UP SERVICE – Spend more time generating revenue and less time collecting it. Eliminate delays in payment and detect potential payment problems. Steelhead Finance’s Account Managers audit your freight invoices for accuracy and then bill them out to your customers.
7. CUSTOMER SERVICE – Superior Customer Service is our number one goal. You are more than just a factoring account-holder. You are our business. We tailor our custom broker factoring programs to fit your specific brokerage company needs. We are committed to be responsive, professional, and timely.
10. RATE STRUCTURES – Our qualified broker factoring applicants will receive our discounted rate plan. There are two factoring programs available to you to best fit your company. You can choose the 30-day tiered structure or the 60-day flat rate program. The Broker Factoring Program also allows you to receive a 1% rate on invoices paid by your carriers within seven days.
What is Freight Factoring?
Freight Factoring is simply a means to be paid immediately. It enables you to avoid sending your freight invoices to your customers who may take upwards of 60 days to pay. Instead Steelhead Finance would buy the freight invoices from you for a minimal fee and pay you within 24 hours. The invoices are then forwarded to your customer. Many transportation companies rely on freight factoring because they often cannot afford for their invoices to go unpaid for 30 to 45 days. We do the waiting so you don’t have to.
Transportation Industries Steelhead Finance Factors
- Factoring Owner Operators
- Factoring Intermodal and Container Freight Companies
- Factoring Freight Brokers
- Factoring Long-Haul Truck Load and Local Delivery
Steelhead Finance (A Division of Capital Associates Inc.)
2594 E. Barnett Rd. Suite C | Medford, Oregon 97504 | Phone: 1.800.727.3377