CARRIER PAYMENT SERVICES FOR FREIGHT BROKERS
As brokers navigate the constant changes, including increasing competition, slow paying shippers, stricter regulations and compliance, the road to profitability is getting longer. Successful freight brokers are fueled by a healthy cash flow. With our carrier payment service, we provide fast payment for your carriers and take care of your billing and collections so you can focus on running a profitable business.
WHY FACTORING FOR FREIGHT BROKERS IS A GOOD IDEA
Flexible options as quick as same day
Improve your broker rating
Offer 21-day standard carrier payment
Leverage our load management tool to track loads and carrier status
Eliminate capacity crunch
Retain the most qualified carriers by offering the most competitive quick pay options and fuel discounts
Available funding grows with your brokerage
Stop chasing payments
Collections and billing handled on your behalf
THE PROCESS IS SIMPLE
We pay your
We handle all your
billing and collections
GET SMART TOOLS
With our online portal, we make it easy to manage your carrier payments and streamline AR management.
- Select carrier payment terms
- Track loads with our load management tool
- Upload invoices and load documents
- Auto generate invoices for your carriers
“Offering my carriers fast payment has doubled my business.”
4 years in business and counting!
THE SMARTEST DECISION I’VE EVER MADE
STOP CHASING PAYMENTS
“I work with a lot of shippers and drivers, so having eCapital take collections and billing off my plate is such a relief!”
Client since 2010
eCapital gives you a lot of advantages for staying ahead of the pack. You’ll raise your credibility with carriers by paying them faster, including Quick Pay options and by offering fuel discounts and advances. Plus, by letting us manage your carrier payments, you’ll improve cash flow, allowing you to invest more in your business.
Backed by eCapital’s Carrier Payment Service, you are in a much stronger financial position to keep your business moving and retain happy carriers with our factoring for freight brokers.
Here is an example scenario:
- A shipper is going to pay you $1000 to haul a load.
- You find a carrier to haul that load and agree to pay them $750.
- Once we receive your invoice, rate sheet, and bill of lading, we pay you 90% of the load. In this case, that amount is $900. We pay your carrier the $750 for hauling the load and will pay you the remaining $150.
- The remaining $100 (10%) is put away in a reserve escrow until the invoice pays. The reserve will be released automatically to you on the following Thursday, minus your fee.
Yes! It really is. All you need to do is upload your paperwork to the Client Portal, and we take care of invoice processing, carrier payments, customer collection, and paying you any remaining balance on the invoices.
We offer fuel discounts at the top fuel providers in the country, fuel advances, free 24/7 online credit checks, quick pay options, and extended service hours.
If you’re unhappy with your current for freight broker factoring company, we can help with that! It’s very common for us to help negotiate a buyout and work directly with your current factoring company to make it as easy as possible to switch. The best thing to do is jump on a quick call with us so we can determine the best way for you to transition to eCapital.