You only pay fees on funds drawn plus a small administrative fee to manage your accounts receivables.
Accutrac understands our trucking business. They go out of their way to help you with great information and advice.
What I like about Accutrac is their personal approach and how well they know the trucking business. They took a personal interest to get to know us and to understand what we were doing. They're very approachable and always available for my questions.
If any business is hesitating about factoring, I say that hesitation isn't warranted if you're dealing with Accutrac. They're not like other factoring companies. They're professional and understand our business. I can't say enough good things about them.
What impressed me most about Accutrac, in addition to being really good at what they do, is that they genuinely cared about helping us to be successful...
I can't say enough good things about how Accutrac Capital has solved our rapid growth cash flow issues. They've really allowed us to move to the next level of growth…and the results prove it! – Tal Hayek, Co-founder and CEO, AcuityAds
What I like about working with these super talented individuals is their services doesn't suffer even though they keep growing their own business. In fact, our relationship keeps getting better. I think of them as a real partner in our business.
Accutrac provides a line of credit up to 97% of your accumulating accounts receivable.
You deliver freight for your customer, send Accutrac your invoice, load confirmation and signed bill of lading and we apply up to 97% of the invoice face value to your Factoring Line of Credit. You can now draw down on your line based on your cash needs.
Discount fees are charged against your outstanding balance only, with rates as low as 0.022% per day. Additionally to manage all your accounts receivable and to provide you with unlimited credit insight we charge a nominal administration fee.
It's highly cost effective; keep your costs down by using funds only as you need them while benefitting with access to world class receivable management. Your dedicated Account Manager will provide easy instructions to access your online account or assist you personally with transactions and account management.
What does a Factoring Line of Credit cost:
(Prime plus 5% per annum)
The following example is based on a $1000 invoice, outstanding for 45 days.
|Advance:||$ 970.00||97% of invoice amount is paid to you within 24 hrs|
|Administrative:||$ 5.00||0.5% of the Invoice Amount
*Rates vary from 0.5% to 1.5%
|Net Advance:||$ 965.00||Advance less the administration fee|
|Discount Fee:||$ 9.60||0.022% x $970 X 45 days
Calculated & deducted at month's end
|Net Balance:||$20.40||Paid to you when your customer pays Accutrac Capital.|
|Net Funds Received by Customer:||$ 985.40|
Submission of documentation to receive funding is easy and hassle free. We have no requirement that you deliver original paperwork to our office.
When your company delivers freight, send us your invoice and signed bill of lading via email, fax, Transflo or web upload. Accutrac confirms the load then we credit your account with immediate access up to 97% of the value of the invoice.
It’s that convenient!
|Same Day Funding||Yes|
|Up to 97% Cash Advance||Yes|
|90 Day Recourse||Yes|
|Fees applied only to Funds Drawn||Yes|
|Industry’s Lowest Advertised Rate||Yes|
|No Originals Required||Yes|
|Free Credit Reports||Yes|
|Funds deposited directly into your Account or Fuel Card||Yes|
|Easy 24/7 access to your online Account||Yes|
|Dedicated Account Manager to service your needs||Yes|
|Accounts Receivable Management||Yes|