Ultimate Guide to Factoring for Freight Brokerages

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Most freight brokers have probably heard of the term “freight factoring” or “invoice factoring” before - but many aren’t quite sure how the process works, even if they use freight factoring themselves!

If that’s you, don’t worry: you’re in the right place.

Properly utilizing freight factoring can be one of the easiest ways for freight brokerages to improve cash flow, operations, and maximize growth opportunities - and we’re here to show you exactly how to implement it in your business.

It’s very common, and generally considered best practice, for small and medium brokerages to use freight factoring. Still, any. Factoring helps brokers avoid floating the difference between paying their carriers and receiving payment from client invoices out of their own pocket.

Factoring isn’t just used by small and medium-sized brokerages. In fact, 58% of all freight brokers use invoice factoring to manage their cash flow (1). Not only that, but the vast majority (71%) of freight brokerages with more than $2 million in monthly revenue use invoice factoring (1).

Want to learn why the best in the industry use freight factoring to manage their payments? You’ve come to the right place. Welcome to the Ultimate Guide to Freight Factoring.

Here’s what we’ll cover:

Let’s dive in.

What is Freight Factoring?

Freight factoring can be a confusing topic, especially when you’ve got a business to run and don’t have time to dive into the nitty gritty. It doesn’t help that several terms are often used interchangeably but can have different meanings depending on the context.

Freight factoring is essentially an easy way for freight brokers to get access to short-term funding by selling uncollected invoices to a factoring company. This helps brokers cover costs between the time they deliver goods to the customer and receive payment for that shipment. With invoices often being paid 60-90 days after they’re sent, factoring can be a godsend to brokers that need cash immediately to pay their drivers.

2022 saw an overall small growth rate for Freight Brokers according to IBISWorld’s research. However, December saw a sharp 11% decrease in truckload tenders according to Freight Waves (2). With ports across the country seeing decreases in volume and large carriers declaring bankruptcy, it’s important for brokers to take advantage of every opportunity in this dynamic environment to maximize their cash flow.

While some are predicting that contract rates may continue to decline as much as 13-17% through 2023, the overall market growth outlook is strong, and can expect to see a compound annual growth rate of 6.3% over the next decade(3).

Freight broker factoring is an easy way for brokers to collect cash upfront for all of their invoices, without waiting for 30, 60, or even 90 days for their customers to pay their invoices. This allows freight brokers to quickly and easily pay their carriers using QuickPay, and gives brokerages far more flexibility and reliability in their finances.

If you’re trying to grow your brokerage, freight factoring can give you access to the working capital you need to succeed in a competitive environment. Some factoring companies also help with automating your finances, invoicing, payments, and more - saving brokers many hours per week.

Freight factoring does have a cost associated with it, which is taken out of the final payment on your invoices. This is usually between 1-5% of the total invoice(4).

Here’s a brief overview of how the process works:

First, your freight carrier delivers their load for the customer, obtains a signature, and sends the broker their invoice along with proof of delivery.
Next, the broker sends those documents, along with the shipper rate confirmation for the load to the factoring company.
Your factor will pay you an advance on this invoice - usually up to 90% of the invoice value upfront - allowing you to pay your carriers without floating the expense.
After the invoice has been collected by your Factor, they’ll pay the remainder of the invoice minus the factoring fee.

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Graphic explaining the freight factoring process

History of Factoring And Supply Chain Management

Freight factoring in one form or another has been around for a surprisingly long time. There are references to the financing of trade since ancient Babylon, which was written into law in the Code of Hammurabi back in 1755 BC (5).

It’s likely that some form of freight factoring and short-term financing has been around for as long as trade and banking have existed. The needs of those who transport goods haven’t changed much in the thousands of years since - even if the speed of transportation and communication has.

Freight brokers back then needed ways to finance travel, new purchases, and other expenses while they waited for previous investments to pay off - just as they do today. This created a need for short-term financing, which has evolved into what we now know as freight factoring.

Freight factoring and supply chain management evolved as transportation and new methods of shipping goods evolved.

In early history the pyramids of Giza, built nearly 4,500 years ago, may be one of the earliest examples of a large supply chain (6).

It wasn’t until nearly 2,000 years later, around 200 B.C., that long-distance and intercontinental supply chains were created, with early examples including the Silk Road and the Indian Ocean Spice Route (7).

In the early 18th century, during the industrial revolution, larger, faster, and more reliable ships were created that quickly sped up global trade.

Trade financing has evolved alongside the evolution of transportation and new methods of shipping. In the early 1920s, some shipping companies sold secured bonds to the public as a way to finance their endeavors and future investments. The expansion of production and new technology in the 1900s forced supply chains to improve quickly to meet demand.

In the 1930s, RFID (radio-frequency identification) was invented first to track and identify friendly planes during World War II. The same system was later adapted to be rewritable, and started seeing wide commercial use in the 1970s - and is now used for tracking shipments, locks, credit cards, toll roads, and more (8).

The Japanese created what we currently know as “just-in-time” (JIT) inventory management, which was first developed by Toyota’s manufacturing plants (9). The process was so successful that it later inspired Lean Manufacturing in the U.S.(10), and has become widely adopted across the supply chain today.

While some forms of supply chains and supply chain management have been around for hundreds of years, the term wasn’t widely used until the 1980s, when it was coined by Keith Oliver, a consultant at Booz Allen Hamilton(11).

Modern financial institutions have allowed for significantly faster (and less expensive) financing, which has led to the explosion of modern shipping companies across the globe.

How Does Freight Factoring Work Today?

In its modern form, freight factoring is in some ways still similar to ancient forms of lending. Freight brokers sell their invoices to a third party, who will provide upfront access to cash that the brokers need to pay their expenses. The factoring company will then collect on the invoice 30, 60, or 90 days later and collect a small fee when paying out the remainder of the invoice to the broker.

This gives brokers access to financing to pay their carriers and other expenses almost immediately (sometimes within a day or two), without pulling on their own cash reserves to cover the costs while they wait for customers to pay the invoice.

Most factoring companies will have several options for your invoice collections & payments, including recourse freight factoring, non-recourse freight factoring, QuickPay for your carriers, and more. These options provide brokers with freight financing flexibility depending on their needs and current demand.

Benefits of Factoring for Your Freight Brokerage

There are some pretty obvious benefits of factoring for brokerages, especially for growth brokers who are looking to expand their business. It provides quick access to cash that the broker would otherwise have to pay out of pocket to their carriers, ensures carriers are paid quickly, and improves overall cash flow. This of course keeps carriers happy, on the road, and delivering reliably.

On top of these more visible benefits, there are a few aspects of factoring that are incredibly beneficial to brokers, but aren’t apparent at first glance.

These include:

Maintaining capital reserves so you can scale your brokerage faster.
Lowering your days to pay - giving your carriers more reasons to stick with you, and incentivizing new carriers to join your brokerage.
Improving your relationship with your carriers with QuickPay.
Allowing you to perform credit checks on customers, removing some of the risks of non-payment or delayed payments.
Avoiding expensive business loans to cover the float or finance operations.
Providing working capital to run and grow your brokerage.

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These benefits - along with some of the other financial tools some factoring companies provide - give much-needed flexibility and scalability to brokers who are looking to grow their businesses.

What Does a Freight Factoring Company Do?

Your freight factoring company of choice can have a major impact on growing and scaling your brokerage. They’ll provide everything you need to get access to financing in the short and long term, and provide a myriad of other services and benefits if you choose the right one.

The freight factoring process is relatively straightforward - giving you access to cash upfront while your factor collects on your invoices when they’re due. Many factoring companies have slightly different processes, but the process generally includes the following steps.

How Factoring Works:

First, your customers request a shipment, and oftentimes your factor will perform a credit check on the customer to ensure their load qualifies for factoring. This protects both the broker and factor, and reduces the risks of defaulted payments.

Your carrier will then deliver the shipment as usual, and your factoring company will likely require rate confirmations and signed proof of delivery. They will likely request shipper rate confirmation, carrier rate confirmation, and a carrier invoice along with proof of delivery.

Your factor will then provide you with up to 90% of the face value of the invoice. The amount of your advance can be influenced by a variety of factors, such as the perceived risk of default. When factoring with Denim, you and your carrier are paid within 24 hours of sending the invoice.

Your factoring company will then collect on the invoice from your customer on your behalf, so you don’t need to chase down customers for payment or worry about covering carrier costs in the meantime.

When the invoice is collected, you’ll be paid the remaining value of the invoice, minus the freight factoring company’s fee. This is usually around 1-5% of the invoice (4).

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Other services provided by factoring companies:

Back-Office Support and Automation: Some factoring services provide back-office support and automation, streamlining your invoicing and payments process.
QuickPay for Carriers: With QuickPay factoring for freight brokers, your carriers get paid quickly without being charged a fee. This makes their lives easier, and makes them more likely to return.
Dedicated Account Management: Additional support and consultation to manage your finances is provided by some factoring services.
Free Credit Checks For Shippers: Some factoring providers perform free credit history checks into shippers, preventing unqualified customers from causing bottlenecks.
More Access to Working Capital: It’s important to have access to cash when you need it, especially during uncertain or competitive market conditions. During uncertain times, it’s important to have access to cash when you need it. Factoring companies can be a financial resource that will keep your operations running.

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Factoring companies like Denim can also be a smart solution for other financial needs - not only providing financing options that scale with your business, but the tools and automation needed to keep your business running efficiently.

The Application Process and Terms

While there is generally an application process to factor your invoices with a factoring company, it’s a relatively quick and easy process. Most companies approve applications within a day, and will often require significantly less information compared to other forms of financing.

How do you qualify?

Some factoring services require more than others, but there are generally a few criteria they’ll ask for or review when you apply.

This includes:

Business Information: Your factoring company will likely require some basic business information from you, and will verify everything is correct and in good standing. This may include verifying existing assets or debts your business has during the underwriting process.
Monthly Invoice Volume: The number of shipments you invoice customers for each month. Generally higher volume brokers will have better factoring rates.
Customer Concentration: Some factoring companies see brokers with fewer customers as higher risk.
Minimum Revenues: Some brokers require minimums to factor your invoices, while others such as Denim do not have any minimums.
Background Check: Your factor may perform a company background check on your brokerage to ensure there aren’t any issues.
Credit Rating or Liens: The credit rating of your business and any existing liens against your company may have some impact on your ability to receive financing or factor certain invoices. Your factoring company will likely perform a credit check to identify any of these issues.

Common Freight Bill and Factoring Invoice Terms to Know:

Accounts Receivable: Unpaid money that customers owe you.
Factor: The factoring company you use.
Factoring Rate: The percentage of the invoice which your factoring company is paid.
Recourse Factoring: A method of financing where a broker will sell its unpaid invoices to a factoring company at a discounted rate, but are responsible for any customer defaults. Generally has a lower factoring fee and more flexible credit lines compared to non-recourse factoring.
Non-recourse Factoring: Lowers the risk for brokers, putting all of the responsibility for collecting on invoices on the factoring company. The factoring service assumes the risk for unpaid invoices, but also will generally charge a higher fee.
Net Terms: The amount of time an invoice has to be paid.
Advance Rate: The amount of advance the broker receives from their invoices from the factoring company. A lower advance rate may impact the factoring rate.

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Sample invoice:

Factoring Rates

The rate you’re quoted for factoring can vary based on the type of agreement you have and other fees your factoring company may charge.

Rates are generally determined based on the creditworthiness of your clients and your business, the volume of invoices you factor, current prime rates, and more depending on the factoring company you choose. Some offer tiered rate programs which decrease the rate you pay as your volume increases, while others tie rates to prime rates.

Most factoring rates are between 1-5%(4), with rates increasing when brokers choose to use non-recourse factoring. These rates are the base factoring fee that your service provider charges, and may not be the only costs associated with factoring - more on this below.

Understanding the Fine Print and Hidden Costs

When making a decision about a factoring company, be sure to read the fine print. Some will advertise low rates or risk-free financing, without being very upfront about their costs.

Here are some important fees and requirements that are sometimes hidden in the fine print of factoring agreements:

Setup fees: A fee charged to begin working with a factoring company at the time of sign-up. Usually a one-time fee.
ACH, Wire Transfer, or Check Processing Fees: Some factoring companies will charge a flat or percentage fee for each ACH transfer to your accounts.
Minimum Volume Fee: Double-check that your factoring company won’t charge you if you don’t meet minimum volume requirements. These fees can quickly eat up the invoices of smaller brokers.‍
Client's Credit Check Fee: A fee charged to check the creditworthiness of your customers - some charge for this and others do not.‍
Aging Fees: Fees charged for invoices that take a longer time to be paid by your customers.‍
Invoice prep &/or administration fees: Fees charged for preparing invoices, managing your account, etc.‍
Length of Terms: The amount of time to pay on an invoice or contract.‍
Termination Fee: A fee charged for early termination of your agreement.

If a factoring company is charging any of the above fees, or has unfavorable terms like these in your contract, be wary of low advertised rates.They may have lower rates than alternatives, but will often eat up the value of your invoices through additional fees and restrictions.

At Denim, we’re proud to offer clients factoring with no additional fees or long-term contracts. We know your business depends on knowing exactly how much you’ll receive from each invoice, which is why the only fee we’ll ever charge is our base factoring fee. Schedule a demo to learn more.

How to Choose the Right Factoring Company?

Choosing a factoring company is an important step to growing any brokerage, but it can be a challenging decision.

At face value, low base rates and high advance rates are advertised to brokers, but there are a few other things to consider.

Here are the top questions freight brokers should ask before picking a factoring company:

How long and complicated is the application process to receive funding?
How quickly are brokers and carriers paid after load delivery?
Do they offer QuickPay for carriers? Is it free?
Can you (the broker) choose which loads they want to factor?
Do they prioritize cybersecurity to ensure your funds are safe?
Are there any hidden costs, additional fees, or long-term commitments?
Does the Factor handle receivables and payment management?
Does the Factor offer Flexible Factoring?

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Check out this full list of essential questions every freight broker should be asking their factoring company.

Growth-focused brokers may also wish to consider the other financial services provided by a factoring company. Choosing a Factor that can scale alongside your business and provide other financial insights may be essential in future-proofing your company. According to KPMG, one of the largest consulting firms globally, investment in holistic supply chain technology will be an essential strategy in 2023 (12).

This means that growth brokers looking to get ahead should focus on providers that incorporate more than just factoring into their services. Without end-to-end visibility into your analytics, customer credit, or back-office optimization, your brokerage may be left behind.

What is the Difference Between Recourse and Non-Recourse Factoring?

When entering into a factoring agreement, there are two common types of factoring you’ll encounter: Recourse Factoring and Non-Recourse factoring. These factoring types have some benefits and drawbacks that you may want to consider depending on your risk tolerance and financial situation.

Recourse Factoring

Recourse factoring is a form of freight bill factoring where the factor pays the broker upfront for any invoices, and then attempts to collect on those invoices when they’re due. This provides the broker with working capital to pay carriers fast, and the factor collects a fee for floating the difference. If the customer defaults on the debt, the broker is responsible for paying back the factoring company.

Full recourse factoring may seem riskier for the broker, but it does have several advantages over non-recourse factoring. The most important of which is a lower factoring fee - since the factoring company is taking on less risk, they’re able to charge less for factoring and pay brokers faster.

Recourse factoring is also a great choice for brokers who have long-lasting relationships with their clients, and are aware of their payment history. If you already know your clients pay on time, recourse factoring is less expensive and gets you paid faster.

Non-Recourse Factoring

Non-recourse factoring means that the factoring company assumes the risk of default by the broker’s customers. While this sounds less risky on the surface, it does come with a few caveats.

Often brokers are only protected by non-recourse factoring in very specific situations such as the bankruptcy of the client. This can cause brokers to get the worst of both worlds: higher fees and responsibility for defaults that aren’t the result of bankruptcy.

Non-recourse factoring will also limit a broker’s customer base, since the factoring company is assuming all of the risk. This means they’ll frequently decline to factor invoices for customers who have less than perfect credit, leaving the broker on the hook.

Learn more about recourse vs. non-recourse factoring here.

Factoring Discounts: Time & Volume

What are Factoring Discounts?

Factoring discounts are ways brokers can save on their rates, improve their cash flow, and adjust their funding based on their unique needs. There are generally two types of factoring discounts: time discounts and volume discounts.

Some factoring companies may offer one or both of these discounts to their clients, depending on the number of invoices factored and the speed at which the client needs to be paid.

Time-based factoring discounts reduce your rate based on how quickly your brokerage chooses to receive the advance for your invoices. These discounts offer a decreased rate to brokers who need a smaller amount of their invoices paid upfront. For brokerages that can delay the need for an advance on their invoices, time-based discounts can help cut down on fees if they don’t need the capital immediately.

Volume-based factoring discounts are decreases in your rate based on the volume of invoices your brokerage factors. These factoring discounts provide increased cash flow and a lower rate for larger brokers who process a lot of invoices.

Factoring discounts give brokers some control over their rates and help reduce fees as your brokerage scales. Denim offers rates as low as 1% when brokers can take advantage of the various discounts we offer. Contact us to learn more.

Factoring Freight Broker Invoices vs. Other Funding Options

With freight factoring, your funding is based on goods that have already been sold and delivered. This allows factoring companies to provide an advance on your invoices for significantly lower rates than other kinds of financing.

Business loans from the SBA have significantly higher rates, with a minimum of 2.25% + the prime rate, meaning a loan in early 2023 would cost you between 10-12%. A business line of credit can be even more costly depending on your creditworthiness, and can have rates as high as 16%-27% (13).

Compare this with freight factoring rates of 1-5%, and it becomes obvious why many brokers choose to factor over other methods of financing.

Factoring also won’t lock your business into monthly recurring payments like a bank loan or line of credit.

Loans from banks, the SBA, or private investors also often require some form of collateral. This could mean putting up your trucks, equipment, or office space as a guarantee against your loan. Since factoring is based on your existing invoices, generally no additional collateral is required, and approval is based on your customer’s creditworthiness, not yours.

Factoring also gives brokers an easy way to reduce debt on their balance sheet while simultaneously lowering their debt-to-equity ratio.

Why Factoring is an Important Part of a Freight Broker’s Strategy in Both Up and Down Markets

Smart brokers can take advantage of freight factoring in a wide range of markets, and it can be a useful tool to withstand economic turmoil. Easy and inexpensive access to funding can and should be a part of any broker's growth strategy, regardless of the economic climate.

Factoring in Down-Markets

With the recent news of slowdowns in manufacturing, decreases in shipments, and trucking conditions falling to record lows, it’s more important than ever to stay on top of your finances. Maintaining cash reserves needed to manage carrier settlements and meet payroll is essential to surviving any downturn (14).

Factoring can be one of the tools in your toolbox to weather a recession. It allows you to access capital when you need it, giving you opportunities to take advantage of spikes of demand when they occur.

With most factoring companies there’s also no upfront cost or long-term commitment - you can sign up today, and only use it when you need it. Traditional forms of financing can lock brokers into fixed payments that might be challenging to keep up with if demand begins to slide.

During a downturn, it’s also important to consider your client’s reliability. Some factoring companies will perform credit checks and vet your clients to ensure they’re able to pay, and don’t have a history of defaulting on vendors. For example, at Denim we provide free unlimited credit checks for all customers, so you can be confident that invoices will be paid on time.

Without a way to monitor customers’ history, some brokers can end up working with customers with a bad history of repayment. During an economic downturn, it’s critical that brokers work only with customers who are financially able to cover their obligations and pay their invoices on time.

Factoring During Up Markets

Easy access to capital is an essential tool for growing a freight brokerage during an up market, which is why freight factoring can be a useful tool when the economy is on an upward trend.

Without access to capital, your business may not have enough cash on hand to capitalize on new demand as the economy improves. Consumers generally spend more during economic uptrends, which in turn means more goods need to be manufactured, shipped, and delivered to fulfill this demand. For example, in 2017 when the economy had been growing for several years in a row, the ATA trucking tonnage index rose by 3.7% - the largest annual gain since 2013 (15).

The data clearly shows that when the economy is growing, so are trucking revenues. This is why it’s so important to have access to capital when needed. New customers are more likely to need new routes or additional deliveries from carriers during a growing economy. Without fast access to inexpensive capital, some brokers may lose this business to other more established 3PLs.

Freight factoring is one of the tools growth brokers should employ to remain competitive when the economy rebounds. With the right tools and access to funding, brokers can build and grow relationships with new carriers and customers during economic upswings. Easy access to funding also allows brokers to take on new jobs in niches they might otherwise avoid during downturns.

The Benefits of Automating your Freight Factoring

Factoring on its own has a wide range of benefits, which are compounded when used in conjunction with automation.

Automation is quickly becoming an essential part of managing a broker’s back office, and brokers that ignore these changes may be left behind by the competition (12). Carriers and clients are beginning to expect QuickPay, automatic payments, and prompt invoicing provided by automation.

Automated factoring improves your company’s efficiency, allowing for streamlined invoicing, billing, and payment processing. This can significantly cut down on the time required to manage your accounts each week.

With automated factoring and back-office support, your brokerage can expect:

A Competitive Advantage: Automated freight factoring keeps your business ahead of the competition, providing more value and a better experience for clients, which in turn increases referrals and repeat business.
Improved efficiency: Automating invoicing and payables streamlines the billing and payment process and significantly reduces the amount of time staff needs to spend on accounting.
Enhanced accuracy: Manual invoicing and account management often leads to increased errors and inaccuracies. With an automated invoicing system, errors and inconsistencies in your data are automatically flagged.
Increased security: Automation reduces the risk of fraud, errors, and missed payments, which improves the security of your operation.
Improved cash flow: Automated invoices and payments ensure that everything is on time and issued promptly, improving cash flow and operational efficiency.
Improved relationships with clients and carriers: Carriers are beginning to expect QuickPay, and an automated back office ensures they get paid fast. This improves your relationships with carriers and customers, since checks and invoices are always accurate, on time, and easily understood.
Reduced administrative burden: Sending invoices, paying carriers, and managing your finances can be time-consuming and error-prone. With automation brokers often save many administrative hours each week, all while improving accuracy and efficiency.
Align administrative costs with revenue: Factoring helps brokers remain lean and agile, allowing them to grow and scale quickly during up markets, and maintain solid margins without a bloated staff during down markets.

The hours saved from automating your freight factoring will likely pay for the factoring fee on their own. Carriers, customers, and staff all benefit from the accuracy and efficiency of automated freight factoring, making it an easy decision for most brokers.

Buyouts and Transitioning Freight Factoring Companies

When a broker is considering changing from one freight factoring provider to another, they go through a process called a ‘buyout’. The process allows brokers to switch from one factoring company to another that better fits their needs, without losing access to funding in the short term.

If your current factoring company is charging excess fees, or doesn’t offer features like QuickPay or other financial enablement services, it might be time to consider switching to a new freight factor.

Here are some questions to consider if you’re thinking about transitioning to a new factoring service:

Does your new factoring company offer better rates or terms?
Are there hidden fees or costs associated with your current factor that could be removed by switching?
Will you experience improved customer service with the new factoring company?
Does your current factor pay on time, every time?
Are there terms in your contract, like volume minimums or aging fees, that make your current factoring company harder to work with?
Does your factoring company use modern technology, automation, and easy-to-use reporting and dashboards?

Before switching factoring companies, you’ll want to review your existing contract and be aware of any cancellation fees, contract end dates, or other terms related to canceling your contract.

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Am I ready for a new factoring service — Checklist to determine if you need a new factor.

The Process of a Freight Factoring Buyout

The buyout process can vary depending on who you choose for your new factoring company. At Denim we take care of the vast majority of the process on your behalf. After you’ve notified your previous factoring company that you’ll be canceling and agreed on a buyout date, Denim takes care of the rest. Here’s what the process looks like:

Verify UCC filing and Initial Aging Report: Denim will contact your current factoring company to verify their UCC filing and request an initial aging report to ensure no outstanding liens or claims against your accounts receivable. Denim's operations team will also verify the aging report provided during the sales process by contacting your shippers to expedite the payment process and ensure a smooth transition.
Request final aging report and buyout agreement: We will request the final aging report from your current factor to confirm no additional loads were added to the accounts receivable. The final aging report is crucial to avoid discrepancies or disputes after the factoring buyout. The buyout agreement, which outlines the terms of the purchase and may take up to a week to process, will also be requested.
Sign Buyout Agreement: All three parties, including you, Denim, and your current factor, will sign the buyout agreement after careful review and understanding of all the terms.
Send the wire to complete the buyout: Denim will then prepare and send the wire to purchase all the open invoices, verifying receipt with your current factor.
Denim takes first place on UCC filing: The previous factor will send a release letter to replace their UCC filing, allowing Denim to take the first position by filing a UCC-1 financing statement. This final step completes the buyout.
Welcome Party!: Denim will introduce you to your new account manager and onboarding crew who will assist with integrating your account and provide a demo of your dashboard to kickstart your partnership.

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Conclusion

Freight factoring is one of the easiest ways for brokers to get ahead, grow their business, and become known for fast and reliable payments, which is why it’s critical that you choose the right factoring company.

At Denim, we’re proud to offer transparent, flexible factoring to brokerages of all sizes. You’ll never be surprised by your bill again with free account creation, applications, credit checks, ACH transfers, QuickPay, and more.

Set up your free account today and only factor the invoices you need, when you need them.

Call (855) 250-4142 or sign up here to get started today.

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