Factoring Line of Credit for Truck Fleets
A Flexible Line of Credit Combined with Convenient & Cost Effective Receivables Management
Imagine a line of credit equaling up to 97% of your combined receivables that you can draw on as needed.
You only pay fees on funds drawn plus a small administrative fee to manage your accounts receivables.
Immediate Access to Cash
How Factoring Line of Credit Works
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:
From 0.022% per day
(Prime plus 5% per annum)
The following example is based on a $1000 invoice, outstanding for 45 days.
||97% of invoice amount is paid to you within 24 hrs
||0.5% of the Invoice Amount
*Rates vary from 0.5% to 1.5%
||Advance less the administration fee
||0.022% x $970 X 45 days
Calculated & deducted at month's end
||Paid to you when your customer pays Accutrac Capital.
|Net Funds Received by Customer:
Up to 97% Cash Advance
Accutrac provides an innovative solution to meet the needs of larger truck fleets. This flexible funding facility allows you to draw funds as needed. Our factoring line of credit provides easy access to working capital equaling up to 97% of your accumulated accounts receivable.
Only pay fees on funds drawn
This industry unique freight factoring facility is highly cost effective for owners of larger fleet operations. You only pay fees on actual funds drawn, plus a small administrative fee to manage your accounts receivables. The ideal combination of control and cost efficient funding management.
Dedicated Accounts Manager
Accutrac Capital provides a dedicated Accounts Manager to assist with the management of your account and ensure you receive superior customer service. You'll benefit with trusted advice from industry experienced staff to help with credit decisions, expedite funding and to answer all queries. Support is readily available by phone or email to keep things efficient and easy to manage.
Easy 24/7 access to your online accounts
Accutrac Capital provides convenience and full transparency. View your account details 24/7 with easy to manage 24/7 online account management. Track daily transactions, balances, AR aging reports, month end settlements and much, much more.
Free Credit Reports
Every load from a new customer or acquired from a load board is a potential financial risk. Accutrac Capital provides an easy to use free online credit reporting tool to assist with your due diligence. This free access to our huge and regularly updated database of shippers will provide the information needed to confirm the customer's ability to pay. Due diligence is the key to avoiding bad debt.
No Cost Accounts Receivable Management
Accutrac Capital's professional back office staff are well versed in the accounts receivable process and have years of trucking industry experience in managing collections. The proficient management of documentation flow, clarifying information on charges, simple dispute resolution, and more is key to ensuring your cash flow is fast and your accounting is accurate.
Factoring Line of Credit Features
|Same Day Funding
|Up to 97% Cash Advance
|90 Day Recourse
|Fees applied only to Funds Drawn
|Industry’s Lowest Advertised Rate
|No Originals Required
|Free Credit Reports
|Funds deposited directly into your Account or Fuel Card
|Easy 24/7 access to your online Account
|Dedicated Account Manager to service your needs
|Accounts Receivable Management