The Trucking industry has its own challenges, especially in regard to cash flow, administrative headaches, and regulatory compliance. OCF offers programs tailored to meet all these needs.

Freight Bill Funding

We fund freight bills from the widest range of trucking businesses, from owner operators to fleets with hundreds of trucks. Our factoring facilities provide the flexibility for those companies who only need to fund their freight bills from time to time to those firms with facility needs up to $5 million. Our programs are designed for trucking companies that are growing at a rapid rate as well as those that are just having trouble paying current expenses. There is no reason to wait 30 to 60 days or longer for your money!

Program highlights:

• Up to 95% advance rate
• Affordable financing rates starting at 1.95% per 30 days
• Client chooses which freight bills to factor
• Not a loan - we purchase your accounts receivable from you
• Unlimited financing - amounts financed only limited by your pool of receivables
• Easy - After completing a simple application, we will give you a quote with a few days
• Quck - After approved, funding can occur in 3-5 days
• No personal guarantees required
• Financial status not important - we can even fund companies in bankruptcy

Additional Services

Fuel card - Accepted wherever Fleet One cards are accepted, with ATM access and the ability to write checks using fuel card facility. Can be “loaded” from your factoring facility.

Licensing, Permitting and Fuel Tax Reporting – iIncreases your operational efficiencies which adds to your bottom line.

• Reduces the labor and time required for paper handling, sorting, checking, filing and storing
• Reduces fuel tax audit liability and assessments
• Provides on-going technical support from the very start
• Provides professional management of state audits, tax and licensing

Log Auditing – Low cost log auditing that compliments your scanning and overnited bills of lading. We offer through TripPak Rapid Log scanning and auditing services, Monday through Friday, with a guaranteed turnaround of 24 hours within receipt of logs. Advantages are as follows:

• All of your driver log images
• Over 20 customizable reports
• Violations creation and editing
• Notification letters
• Custom checkpoint information
• A report scheduling tool
• Risky drivers flags
• Extensive online help

We want to assist in keeping you compliant without the headaches of not knowing if your in good standing with the DOT.

Click here to read OCF articles on Invoice Factoring for transportation companies.

Click here to read our Accounts Receivable Factoring Blog.