Welcome!
Introducing TruckingMBA's VLocity Capital
Factoring Services!
Your One-Stop Solution to Fuel Your Growth and Maximize Cash Flow
Here is what is Included
- Online Brokers Credit Check.
- Same-Day Advance options.
- Proactive Collections for Truckers: Our dedicated team takes care of collections, allowing you to focus on delivering freight.
- Transparent Rates and No Hidden Costs: Clear and competitive fee structure designed to support your trucking business.
- Renewals - IRP, IFTA, 2290, UCR, NY, NM, MCS-150
- IFTA and all other road tax filings.
- New Entrant Audit.
- Manage Driver Qualification Files.
- Personalized Support for Trucking Carriers: Our knowledgeable team is ready to provide personalized assistance and guidance whenever you need it.
Drive your Trucking Business with TruckingMBA's VLocity Capital Factoring Solutions
Transform Your Unpaid Invoices into Cash Flow
At TruckingMBA, We understand the unique challenges you face in the transportation industry and are here to help fuel your growth. Our factoring services provide you with the working capital you need to cover expenses, expand your fleet, and take advantage of new opportunities. Leave the cash flow worries to us while you hit the road with confidence.
We understand that the trucking industry is constantly evolving and regulations are constantly changing, but we remain steadfast in our mission to educate and empower our clients.
Every day we are inspired by the passion and determination of our clients to achieve their financial goals. Join us in our mission to provide efficient and effective factoring solutions that empower businesses to unlock their cash flow potential, optimize working capital, and gain a competitive edge in the market.
Let’s work together to drive success in the trucking industry!
Connect with us today!
Talk to us to answer any questions & make sure you are starting on the correct path.
What TruckingMBA's Clients Say!
What is Freight Factoring?
At its core, factoring is a financial solution designed to provide immediate working capital to businesses, especially those in industries like transportation where the average payment time frame is within 30-45 days, but that is not always the case, some of them take even longer. In an industry like this, one can’t afford to gamble with fuel money. Factoring works by converting your accounts receivable into instant cash. Instead of waiting for your customers to pay their invoices, VLocity Capital receives those invoices from you and gives you an advance at a discounted rate, giving you access to the funds upfront.
Think of factoring as a financial lifeline that bridges the gap between completing a service and waiting for payment. It eliminates the uncertainties and delays associated with traditional payment cycles, ensuring you have the necessary funds to cover daily expenses, fuel up for the next haul, and invest in the growth of your business.
How Does Freight Factoring Work?
The process starts before you even go and pick up a load, before you agree to move the freight. So, you found a load that seems perfect and you are ready to contact the broker and sign up for it. At that moment the first thing you should do is think, is this customer a good payer? Are they worthy or is this risky? How long will it take them to pay us?…etc. These are normal questions to ask yourself, and here is where Factoring starts, we take earlier steps ahead of time to evaluate the creditworthiness of brokers, and update that information in the portal so the only thing you should ask yourself is “will my factoring company accept this broker?” and so you just need to take a few seconds to search for the broker in our Credit Check system and figure it out.
By taking these few seconds to verify the credit of your customer, you will ensure this load will be processed correctly and that this potential customer relationship will be established with all the safety measurements to safeguard your business.
Once you’ve decided to haul the load, you’ll send the load’s paperwork and invoice to your factoring company. VLocity Capital will then process the invoice from you and give you a cash advance for a fee, which is typically a percentage of the invoice amount.
VLocity Capital will then send the invoice to your customers and collect payment from them on your behalf. Once payment is received, the invoice will then be closed. Then, you can focus on doing what you most like about this business whether it’s driving, dispatching or keeping your time as yours.
Why Choose Freight Factoring?
When it comes to factoring, there’s no shortage of reasons why it can be a game-changer for your business. Whether you’re a small or large trucking company, the benefits are clear.
We all know that having access to capital is essential. Fueling up to pick up the next load is a no-brainer. But when you’re running a small operation, it’s likely that you’re wearing many hats. You don’t have an office team handling your paperwork or chasing down payments for you. It can get overwhelming to keep track of invoices and multiple customers. That’s where factoring becomes your ally. It’s like outsourcing your back office, without the need to hire additional staff, pay salaries, or provide benefits. It frees up your time and resources, allowing you to focus on what you do best.
Choose VLocity Capital and let us handle the financial side, so you can keep your wheels turning and your business thriving.
Why TruckingMBA's Factoring Solutions?
Trucking MBA’s VLocity Capital factoring solutions is more than just a factoring company, our founders were also there where you are, they started a small trucking business that ended up being a 80+ trucking company. When they believed they could do more than just running a business, they found the TruckingMBA, our mission is to help carriers to be able to compete in this accelerated industry. We understand your business needs more than anyone, we specialize in compliance. You can have access to the information, tools, and knowledge would have cost you thousands working on your own.
Can you imagine getting the same benefits of a factoring company and on top of that getting the help you need from experts on DOT compliance? We made it possible for you thanks to the TruckingMBA, decades of experience in the trucking industry, helping hundreds of trucking companies to get their trucking authority, keeping them compliant with the DOT, managing their Driver Qualification Files, Random Testing programs with our Drug Testing Consortium, IFTA and Road taxes filings, Permits, IRP Registrations, Renewals, and more!
FAQ’s
What is Factoring in simple words?
Trucking factoring involves processing your freight invoices through a factoring company by paying a fee. This provides you with immediate cash flow to cover expenses while the factoring company takes care of the verification, invoicing and collections processes.
Are there any long-term contracts or commitments required?
No, we offer flexible terms without long-term contracts or commitments. You have the freedom to use our factoring services as needed.
How long does it take to get funded?
Our streamlined application process allows for quick funding decisions. Once approved, funding can often be provided within 24 to 48 hours, ensuring you have the working capital to keep your trucks on the road.
Can I still factor invoices if I have less-than-perfect credit?
Yes, we consider various factors beyond just credit scores. We focus on the creditworthiness of your customers and the quality of your invoices, making it possible for trucking carriers with imperfect credit to qualify for factoring.
What happens if my customers delay or fail to pay the freight invoices?
As part of our service, we take care of collections and credit checks on for your customers. Our proactive approach ensures that such situations are minimized. However, in the rare event of delayed or unpaid invoices, rest assured that we swiftly initiate recovery measures to safeguard your trucking business, minimizing any financial disruptions.
You can rely on us to diligently protect your interests and maintain the smooth operation of your business.
How does factoring help with fuel and maintenance expenses?
By providing you with immediate cash flow, factoring enables you to cover fuel costs, maintenance expenses, and other operational needs without delays, helping you keep your trucks running smoothly.
We also have strategic partnerships and can provide you with a Fuel Card that will help you maximize your savings!