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Nationwide Commercial Credit

FAQ - Trucking Factoring Program

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Frequent Questions About the Trucking Factoring Program at Nationwide Commercial Credit (NCC)

1. What does True Non-Recourse Factoring mean and how does it compare to Recourse Factoring?

True Non-Recourse Factoring, as the only option offered by NCC for trucking clients, involves NCC pre-approving the freight brokers you choose to work with and NCC takes the credit risk for each specific load hauled with those brokers. This means if a freight broker fails to pay the invoice, NCC absorbs the loss, not you. Many of the freight brokers in our network are credit insured, though we also approve brokers who are not credit insured, based on their payment performance and activity history.

On the other hand, some factoring companies offer Recourse Factoring and places the risk back on the carrier if the freight broker fails to pay the invoice, typically within a 60 to 90 day period. In such arrangements, if the broker defaults on payment, the carrier must repay the advanced funds. NCC, however, does not provide Recourse Factoring services to trucking clients, emphasizing our commitment to shielding you from credit risk associated with non-paying freight brokers.

2. Does NCC hold a reserve on the invoices purchased?

NCC operates on a Full-Advance model for our trucking clients, ensuring that they receive the entire payment amount upfront, less the discount fee. For instance, with a 3% discount factoring fee, you'll receive 97% of the invoice value in one payment. We do not retain a reserve from the invoices we purchase.

Non-Recourse Factoring Rates at
2% to 3% Flat Fee - Full Advance
Custom Rates available for Fleets over $150,000 per month
Setup & Get Funded in 24 hours
Canadian and Mexican Freight Brokers Accepted
Free Transportation Management System (TMS)
No Hidden Fees / No Monthly Minimum
No Up Front Fees to Set up
Instant $2,500 Fuel Credit Card for Startups
Fuel Card Discounts
24/7 Freight Broker Credit Checks
Same-day Funding
Automated reporting & Online Account Management
Extended hours: Monday-Friday , 9am - 9pm, & Saturdays, 9am - 3pm
Express 24h Setup

3. What other fees are incurred besides the discount factoring fee?

In addition to the discount factoring fee, clients may encounter various charges based on their preferred method of fund disbursement. These range from no cost up to $25.00 for wire transfers. Additionally, we offer optional services such as Fuel Advances, which incur a fee of 1% of the rate confirmation amount for each load.

4. How do I sign up for the Interest Free Fuel Credit Card Discount Program?

To join the Fuel Card Discount Program, simply start by becoming a factoring client with us. As soon as you're on board, we'll automatically enroll you in the program. Just let us know how many cards you require, and we'll send them directly to your business address.

5. How does your Fuel Credit Card program work and what is the maximum advance?

Our trucking clients can now bypass the stress of securing funds for fuel, and eliminate the wait to receive payment after a load is completed. With our Fuel Credit Card feature, immediate funding of up to 30% of the rate confirmation is transferred as soon as the load is picked up and on its way. Utilizing a user-friendly portal, our clients can easily select the Fuel Credit Card Option for their pre-approved freight broker associated with the specific load, making the process both simple and convenient.

Learn More about the Interest Free Fuel Card

The maximum Credit Card Availability we offer under this program is capped at $2,000 Interest Free per load transaction but there is no limit. The Fuel Credit Line grows proportionately with the factored volume and is paid down automatically with the factored proceeds.

6. Can I still be approved if my credit isn't very good and I have some issues in my background?

NCC adopts a flexible approach towards the credit scores and historical background of our clients. Our primary focus is on ensuring that our trucking clients remain profitable, avoid short-term or revenue-based loans, keep up-to-date with insurance and safety requirements, and provide clear, legible documentation such as rate confirmations and bills of lading for verification purposes. The approval decision is largely based on the creditworthiness of the freight broker responsible for paying the invoice for the completed load.