Lines of credit
Accounts receivable line of credit for trucking and transportation companies. If you are a trucking or transportation company that have been factoring and is considering shifting to a line of credit, or if factoring is not an option and prefer a line of credit secured with your accounts receivables, you should know that we offer a number of asset based lending including ledgered lines of credit and equipment financing facilities that are tailored to fit the specific credit needs of trucking and transportation companies.
The ledgered line of credit is similar to an ABL line, but unlike a bank ABL credit line, there are limited or no audit requirements with respect to financial ratios, concentration and other strict covenants that are standard under a traditional asset-based line of credit.
The ledgered pricing is very competitive, based on the overall merits of the transaction, which depends on risk, number of customers, credit, etc. and similar to the price structure of an ABL line of credit, typically prime + %, plus a service fee. The service fee is charged monthly on the gross amount of invoices, interest is charged on the amount of funds actually drawn, which controls the cost of funding.
If your trucking or transportation company is seeking a line of credit, refinancing or restructuring, expanding, or perhaps having business dilemmas, please send us a brief summary of your request using our CONTACT FORM. We hope to be your source for all your asset based lending and freight factoring needs.
Maximum: $35 Million (availability as you grow)
Advances: On average 90%-92%
Rates: Competitive (Our objective is to beat our competition)
START THE SIMPLE FREIGHT FACTORING PROCESS