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FACTORING COMPANY..What You Don't Know Could Hurt YOU!

A factoring company can be instrumental to the success of the freight brokerage owner. In this video you'll learn... 1. What is a factoring company 2. How brokers use factoring companies 3. 5 questions you should consider asking your factoring company representative prior to set-up. a.) Application fee? b.) Finance charge? c.) Do I have to factor 100% of invoices? d.) How long is the contract? e.) How does the exit clause work? BONUS: How do I pay lumpers or fuel advances? Brokers pay lunmpers and fuel advances through the factoring company by getting set up with a company like EFS (Electronic Funding Source.) Ask the factoring company representative how to get setup... Enjoy... See you at the top because the bottom is much too crowded! https://brandonthefreightbroker.com