Introducing Factoring Solutions by TPine Financial Services
Manage your cashflow with TPine Financial Services, your smart solution for covering expenses like fuel, insurance, payroll and more without creating any debt for your business.
TPine Financial Services offers factoring services so you will never experience cashflow issues in your business. Our team makes the process easy and quick, paying invoices within 24-48 hours with an average payback tenure of 30 to 90 days.
We provide the best customer service while helping you grow your business. TPine Financial Services can combine your factoring solutions with additional services including no-fee credit line, roadside emergency service, preventative maintenance and truck care, fuel discounts and more.
Factoring is a financing method in which a trucking company increases their cash flow by selling their accounts receivable at a discounted rate to a third-party funding source. This helps you meet immediate financial needs that are integral to the survival of your freight business.
Offering customized plans based on your business needs, TPine Financial Services buys invoices for the loads you’ve already delivered and collects them from your customer. Once you get approved and the set-up is complete, you will receive your invoice with proof of delivery and TPine Financial Services will pay you within 24 hours.
It’s important to consider whether recourse or non-recourse factoring is best for your business.
Recourse factoring is the most common type of factoring used by businesses. With recourse factoring, the trucking company retains the liability for the ultimate collectability of the factored invoice.
Recourse factoring is available at a lower discount rate. It enables you to maximize cash for your invoice and is comfortable with a small reserve. The factor purchases the freight invoice from the trucking company, but it can become uncollectible for certain reasons including bankruptcy, claim dispute on the load or going out of business, resulting in a chargeback to the trucking company.
Non-recourse factoring is when the factoring company takes ultimate responsibility for the debt collection. The factor determines the risk of non-payment if the customer does not pay the invoice due to a credit event or insolvency as long as bankruptcy has not been filed.
When TPine Financial Services factoring purchases your freight bills, you have no more liability. In the event of non-payment, you will not be charged if the non-payment is not claimed, disputed or short paid.
Advantages of TPine Financial Services Factoring
- Risk-free freight factoring
- Invoice creation, billing and collection services at no added cost
- Multilingual sales and operations team committed to your needs
- Same-day funding
Debtor Credit Check
Complete the Debtor Credit Check form below to learn about our competitive factoring service rates and how we can support your business’ financial needs today.