Fleet One Factoring For Trulos Users
Recourse & Non-Recourse Funding
WEX Fleet One Factoring offers recourse and non-recourse funding programs to fit your business. Each accounts receivable financing program is custom-designed to match your specific needs.
No Monthly Minimums & Same Day Funding
WEX Fleet One Factoring assumes the responsibility of your accounts receivable and ensure that the money from your approved invoices is delivered within 24 hours.
Fuel Card Funding & Discounts
WEX Fleet One Factoring will fund your WEX Fleet One fuel cards for free, eliminating wire fees and the hassle involved with letters of credit, cash deposits or the credit approval process. Need discounts? We’ve got them. Ask us now.
Trulos Transportation and Fleet One Transportation have teamed up to bring the Fleet One Factoring products to the Trulos Users. Fleet One Factoring is a great financial partner for trucking companies. They will custom design a solution for you to grow your company without debt, handle a large part of your back office needs and they really really want you to succeed. Best of all they support Trulos and are a big reason we are able to deliver our free truckload board and other tools.
Factoring companies are becoming very customer service oriented and are able to provide valuable time saving services. In addition to a great finance tool a good factoring company will become your partner perform the role of Credit Department, Accounts receivable, Collections. One thing to look for in a great partner is what will they do for me and how will they help me to succeed. One time saving example is invoicing. Once you submit an completed shipment to the factoring company you are essentially done. The factoring company will invoice the customer and follow up to collect the payment. In a no recourse factoring solution you will have already received your payment for the shipment and will not have to do anymore to collect your invoice. Even before you book the shipment you can call and check the credit of the shipper or broker and find out if they have the necessary credit or if you need to make sure and get an up front payment from the particular shipper.
Why should a factoring company be your partner
Your factoring company’s goal should be to help you succeed and out grow the need to use a factoring company. You may still like using the factoring company for all the benefits and time saving services they provide but after a while when your business grows you will not need the immediate access to money anymore. The sign of a great factoring company is that they want you to reach this point and celebrate when as a business owner you have grown to the point where you no longer need their services.
What is a factoring company?
A factoring company purchases freight bills at a small discount, providing up-front funds to a client for unpaid invoices. Instead of having to wait 30, 60 or 90 days for your customer to pay you, a factor can get you that money in as little as 24 hours.
What’s the benefit?
Factoring is an excellent way of getting cash fast without creating debts. At a bank, you may not be able to obtain additional loans for critical equipment such as trucks or trailers. More benefits include:
- Free cash flow for payroll and fuel.
- Growing your business
- Personal credit is not an issue
- Collection services
- Hassle free/ easy
How do I keep track of the invoices I factor?
We provide a simple-to-use online account system that includes a wide variety of client reporting and real-time informational tools. If you have any special reporting requirements, we will gladly take care of them by e-mail and fax. We want to make it as simple as possible for our clients to be completely informed regarding their customers and their invoices.
Can I get a factoring funded fuel card?
Absolutely. In fact, it is one of the most popular programs we offer since it is one of the best in the trucking industry. We will provide your company with as many cards as necessary. In addition, the cards may be used at any of our 7,100+ in network sites across the country and offer substantial fuel discounts and rebates. The fuel card also allows our clients to take advantage of deep discounts on roadside assistance, as well as maintenance and tire services.