What is the Difference Between Factoring vs. Line of Credit?
Freight factoring is designed specifically for trucking companies:
- Easy Qualification
- Cash Advance up to 97% of your combined Acccounts Receivables
- No predetermined funding amount. The more invoices you produce, the more funding becomes available
- Only pay fees on funds drawn
- Dedicated Account Manager to service your needs
- Easy 24/7 access to your online account
- Free Credit Reports
- Accounts Receivable Management Included
A commercial line of credit is designed for the benefit of the bank:
- Highly restrictive qualification requirements
- Predetermined funding amount.
- Must comply with bank covenants in order to continue funding
- Banks audit your account continuously. Any financial metrics that disrupt their sense of comfort will result in the loan being terminated