Questions about factoring? Let Great Plains factoring frequently asked questions provide the answers!
Factoring is a financing tool to maximize your trucking company's cash flow. For a low fixed fee, Great Plains will buy your invoices for cash! You then have the cash available to operate and grow your trucking company.
Recourse factoring typically suits larger trucking companies able to assume customer credit risk. This program includes lower fees and also includes a reserve. With non-recourse factoring, Great Plains assumes the credit responsibility. The factoring fee is higher but there is no reserve held by Great Plains until the invoice is paid. Non-Recourse factoring is ideally the best fit for trucking companies operating 1 to 5 trucks.
Great Plains offers ACH transfers (direct deposit) within 24 hours after the purchase of invoices at no extra charge. FREE! We also offer same day wire transfers for a low fee.
You are not required to factor all your customers with Great Plains. However, we do ask that once a customer's account has been factored, that customer continues to be a factored account.
There is NO monthly minimums with Great Plains!
Great Plains offers our clients unlimited 24/7 access to our online customer search engine. Our client's are also more than welcome to call and talk to any member of our credit team.
Great Plains will require your trucking company's invoice, the broker's rate confirmation, if applicable, all signed proof of delivery and bill of lading and any accessory paperwork required by the customer to pay the invoice. You never lose your identity with Great Plains!
Great Plains only requires original proof of delivery to purchase invoices IF your customer requires original proof of delivery to PAY your invoices.