Hopper Bottom Factoring
Hopper Dropper Grain Factoring
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The hopper bottom/hopper dropper grain factoring product provides carriers specializing in grain/bulk commodity hauling with a freight funding option, which allows them to access funds on aged/unpaid invoices or freight bills through a simple application process, eliminating the need for them to wait 30 to 90 days for payment on their invoices.
There are certain basic points to consider, including:
- The carrier cannot operate as a sole proprietorship
- We treat a hopper bottom factoring deal like any other freight factoring facility
- There could be certain issues if the carrier is dealing with a product under the Perishable Agricultural Commodities Act (PACA)
- There might be a problem if the carrier is delivering the load subject to payment
- Or if the carrier is a distributor or middleman and there are concerns such as the farmer getting paid for the grain
- However, if the carrier is hauling the grain like any other load, there should not be a problem or additional complications.
Why wait 30 to 60 days or longer to get paid on your invoices? Click to start the simple funding process.