ComFreight Takes a Stand on Factoring

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ComFreight has simplified the invoice factoring process for trucking companies. ComFreight digital quick pay factoring tool is fully integrated to ComFreight's load board and enables carriers to manage payment requests from anywhere at any time.

Quick Pay Factoring

Approved carriers can request payments from any device at any time.

We want to be the first to make the process of requesting an advance on any invoice seamless, digitally on-demand and fully integrated with the other most important part of our user’s day to day activities - finding loads.

ComFreight, a leading load board and freight “Marketplace” for carriers, shippers and brokers announced that its technology is now capable of completely managing the digital payment advance process for carriers’ hauls using any device.

Steve Kochan, ComFreight’s CEO and Co-Founder stated, “For many small-to-medium-sized trucking companies, cash flow is most important. Carriers work extremely hard to earn quick and immediate payments from their customers. We want to be the first to make the process of requesting an advance on any invoice seamless, digitally on-demand and fully integrated with the other most important part of our user’s day to day activities - finding loads.”

ComFreight’s Marketplace empowers any authorized carrier to apply for factoring using its quick 3-step digital sign up process. ComFreight’s streamlined application and fully-digitized approval process occurs within minutes using any device – and in one session.

Once approved, users gain full access to ComFreight’s web-enabled / mobile Quick Pay application. Unlike any others, ComFreight’s Quick Pay application enables carriers to factor loads on any credit-qualified broker or shipper with whom they transact business – regardless of whether that load originates from its own load board and / or any other source. However, for credit-qualified loads that do originate from ComFreight’s Marketplace, users simply tap a button to generate a payment request within seconds. This commitment extends even further to new, credit-qualified brokers / shippers whom can apply and be able to factor invoices within 1 business day. Additionally, all approved Quick Pay users gain free / instant access to a host of ComFreight’s other unique features such as shipper load alerts, load search tools and market rate trends.

ComFreight’s commitment to factoring-users is simple - to fund invoices immediately - and to do so with no hidden fees.
Steve Kochan stated “ComFreight’s program focuses on non-recourse transactions with a flat 3.50% rate. There are no hidden fees of any kind. ComFreight is the load board and the direct factoring company – all rolled up into one. We’ve researched and determined that most companies in our industry market their factoring products as non-recourse with low fees ranging from 1.5% to 3.0%. However, these low fees are riddled with additional / hidden costs, which most carriers unknowingly wind up paying for. This results in anywhere from an 8.2% to as high as a 22.4% factoring fee. It’s time to put an end to this, to stand up and, once and for all – and finally address it. Payment arrangements must be straightforward, honest and, most of all, they need to make a factoring company accountable to their customer – it’s that plain and simple”.

ComFreight’s mission uncomplicates the factoring process and fully integrates it. Our mission, not only, keep carriers in the driver’s seat of their trucks, but also in control of their growing business’.

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Stephen Kochan
ComFreight
+1 (888) 633-5558 Ext: 2700
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since: 01/2011
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