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Best Dry Van Factoring Service In North America (2024)

Dry Van Factoring is the process in which an owner-operator or a trucking company sells ...

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Best Dry Van Factoring Service In North America (2024)

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  1. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024)  Dry Van Factoring Get the RIGHT Dry Van Factoring Program That Is BEST For Dry Van Operators… From Veri?ed Top Dry Van Factoring Companies, in 02 minutes! 0:00 / 1:28 Talk to A Factoring Expert Compare, Choose, and Apply from the Top Dry Van Factoring Programs Dry Van Factoring is the process in which an owner-operator or a trucking company sells an outstanding truck freight bill to a factoring company for a cash advance.  https://www.maxtruckers.com/dry-van-factoring/ 1/12

  2. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) Dry Van Factoring 7 Save Money Up to $1597 Dry Van Factoring 8 Free Trucking Biz Tools Complimentary Kit Dry Van Factoring 9 30000+ Happy Owner Operators Top 3 Dry Van Factoring Bene?ts for Owner Operators Compare and choose the right Dry Van factoring plans from our recommended factoring companies that are 100% safe for owner operators. Get the best for your trucking business. Generate truck factoring proposals and quotes in minutes.  https://www.maxtruckers.com/dry-van-factoring/ 2/12

  3. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) Factoring With Fuel Line of Credit Dry Van Factoring With Fuel Line of Credit Get Fuel Line of Credit Factoring Program. Fuel expense is no more a headache. Scroll down to see the price Apply Now >> For bigger trucks, as well as for smaller truck Dry Van Factoring for bigger trucks, Click here for details A new owner-operator should save every penny that is possible. Get multiple Dry Van factoring proposals from top factors with MaxTruckers offer for bigger trucks as well as small trucks. Apply Now >>  https://www.maxtruckers.com/dry-van-factoring/ 3/12

  4. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) Factoring With Dispatch Dry Van Factoring With Dispatch  Get high paying loads with MaxTruckers Dispatch, the best dispatch company in the USA along with factoring. To experience the Dispatch quality , you get discounted dispatch price. NO ?xed percentage, NO commitment and SAVE thousands of dollars! Apply Now >> Highlights of Our Dry Van Factoring Proposal Multiple Dry Van Truck Factoring Proposals  From Top-Rated Dry Van Factoring Companies  100% Veri?ed Companies  5 Star Rated Factors  Multiple Factoring Proposals  Starting from 1% to 3.5%  Fuel Line of Credit mentioned below  Recourse & Non-Recourse Dry Van Factoring   https://www.maxtruckers.com/dry-van-factoring/ 4/12

  5. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) Dry Van Factoring Advantages with MaxTruckers Impartial, fair, and FREE consultation  Proposals designed as per your business nature  Multiple factoring proposals  100% Pre-veri?ed, handpicked & trustworthy factoring companies ONLY  Dedicated MaxTruckers buddy for factoring consultation  Regular quality check of the factor  Get Quotes Now >> FREE Start-Up Kit FREE TCS Fuel Card that Saves average of Per Gallon. Scroll down to see the price  30 Days FREE DAT Load Board, the largest marketplace for freight loads and trucks, over 600,000 loads/day  FREE List of 300 Brokers, VERIFIED brokers who work with new owner-operators.  MaxTruckers Referral Program – Refer a friend for factoring, earn $150 per referral. Earn $1000+ extra income per month.  FREE Knowledge Resources – Get access to MaxTruckers knowledge resources that can help you to GROW your business FAST.  Get Quotes Now >> What is dry van factoring? Dry van factoring in trucking: Dry Van factoring is an important part of truck factoring. Dry Van factoring helps dry van drivers/owners to get cash for pulled load instantly or in 24 to 48 hours.   The driver needs to ply a load to generate an invoice. Then send it to the factoring company via email, or upload it through the website, take a photo and use the mobile app to send it to https://www.maxtruckers.com/dry-van-factoring/ 5/12

  6. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) the factor. How does dry van factoring ease trucking business cash ?ow issues?          Dry van factoring, liquidity, and cash ?ow solution: Cash is King in the trucking business, but truckers/owners/driver has to wait 30 to 90 days to get paid by brokers/shippers. This long wait time will create a cash crunch in a dry van trucking business. So the best option is to submit the dry van trucking invoice to a factor, here the factor takes a cut between 1.5% to 5% depending on load volume and size and pays the trucker rest of the amount. The truck invoice factoring is a  key supporting structure that truckers use to inject l working capital into their businesses.  Why is dry van factoring important for truckers? Dry van truck factoring is vital: Dry van factoring provides operational ?exibility, working capital, and liquidity into a trucking business. Usually, a trucker needs to wait for 30 to 90 days (payment cycle) to get paid by a broker/shipper. This creates a cash crunch which might even force them to close the business, if not solved fast. Other than liquidity injection, operational freedom a factoring company helps small and medium truckers to get on top of their carrier side paperwork and secretarial documents. The money thus got from the factor can be used for working capital expenses like fuel, driver salaries accommodation & amenities; equipment maintenance and upkeep, tire or oil change, etc. How do you select a dry van factoring for your business? Selecting a dry van factor for your business: To select a dry van factoring company you need to keep in mind certain factors: First and foremost you need to know what is the factoring rate, this rate decides how much money you get from the factor. The ongoing rates depend on the volume and size of invoices factored.  Secondly, you need to know if there is a lockin period for the factoring contract. It got be 3months, 6months, or even one 1year if you break the lockin period clause you will have to pay a termination fee, which would be a hefty sum of money. Thirdly, you need to also see if there is a hidden dedication like some companies charge credit check fees. You should be on the lookout for hidden fees, ask the company executive to know more about this. Fourthly, you need to see if there is a contract termination fee, if there is one you should steer clear of that factor.  Fifthly, you should be forced to factor in all your invoices. A factoring company with a minimum volume requirement reduces your ?exibility and pro?tability. If you think you do not have to factor an invoice at a certain time, the factor should not force you to do so.   Sixthly, you need to have robust, energetic, problem solving and dedicated customer support. If you are facing a problem the dedicated customer should solve it 24/7/365.  https://www.maxtruckers.com/dry-van-factoring/ 6/12

  7. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) You need to also check if the factoring company has reserves, this reduces the cash credited into your account. Ideally, zero reserves is the best service model. Lastly, you need to see what are the extra bene?ts the factoring company is giving you like load board, insurance (for new operators), bookkeeping support, fuel card with multiple bene?ts, roadside rescue, fuel line credit, etc. What is the cost of dry van factoring?  Cost of dry van factoring: The factoring cut or commission is deducted from your invoice. This is usually the cost of factoring, some companies deduct a reserve also, this is paid back after the customer pays the factor.  The commission is about 1.5% to 5% depending on the factoring type of factoring, volume, and size. What are recourse and nonrecourse dry van factoring? Recourse and nonrecourse dry van factoring: Recourse factoring makes you responsible for the payments of your brokers/clients/shippers. It means if your clients fail to pay your account would be debited by the factor, they will take the money that they paid for the invoice. Recourse factoring is comparatively cheaper than nonrecourse factoring. If you have creditworthy clients you can go for recourse factoring. From the factor side, the credit check and credit history lookup, etc would be lax compared to nonrecourse factoring because the factor has to low possibility of loss here. Nonrecourse factoring is costly compared to recourse factoring. Here the factor assumes the risk of no repayment under certain conditions like bankruptcy and insolvency etc. If you have some client with a patchy business setup or weak bottom lines you can opt for this. Factor due diligence is very expansive in this option, they check each and everything connected with credit score, credit history, business liquidity, etc.   Is the dry van factoring worth it?         Dry van factoring is worth it! Liquidity is worth a lot in the trucking industry. Factoring helps truckers to get cash without strings attached to it. The only cost of factoring is the factoring fee/cut that brokers take. A factor gives instant cash when truckers factor, this gives them money pay their fuel expense, equipment maintenance and upkeep expenses, driver salaries, lodging, food, and amenities; and even for insurance payout, etc.  The other alternatives to factoring is working capital bank loan and quickpay. A working capital loan is a worthy option but it takes time and its a cumbersome process, plus there is an interest cost associated with it. Quickpay is a good option provided by brokers, but not all brokers provide it. What are the merits and demerits of a good dry truck factoring contract?         Merits and Demerits of dry van factoring: Merits of dry van truck factoring: Easy way to inject liquidity into your business   Trucking startup friendly  Low invoice/ bill commissions or factor cuts  https://www.maxtruckers.com/dry-van-factoring/ 7/12

  8. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) It’s a short and long term liquidity option Demerits of dry van factoring: Invoices must be paid in 90 days Should have quality and highly creditworthy customers to start factoring Control of accounts receivable is lost Taking credit based on accounts receivables in hand is not possible What are the additional bene?ts of joining MaxTruckers dry van factoring?          Added bene?ts of joining MaxTruckers dry van factoring program: fuel card:  Maxtruckers provides you a very cool, fuel card with super bene?ts like 35 to 45 cents rebate on a gallon of diesel, equipment maintenance discounts, oil and tire change discount, supplies and driver food and lodging discounts, acceptance in  1000 plus fuel stations and truck stops. Plus this card does not have any owning cost, hidden cost, or operating cost. Fuel line of credit:  MaxTruckers provides up to 50% advance from your invoice as a fuel line of credit so that you can easily carry and deliver your next high-paying load. Flexible volume requirements: MaxTruckers won’t ask you to factor all your invoices with them. You decide which invoices you wanna factor in, there is no factoring volume limit with MaxTruckers. Positive contract terms: MaxTruckers wants to provide you with a positive, open, and transparent contract. We do not have hidden. surprising and bad terms that damage our relationship with you. We keep an open and welcoming contract we do not use terms like termination fees or hidden charges in our vocabulary. Fast Paperwork: We make applying for factoring simple you can either apply by uploading BOL/invoices pics via the web portal or mobile app, plus you can send you paperwork by sending an email. Best customer support: We have dedicated, robust, and problem-solving customer service. The customer service team will help you ?nd, negotiate, and onboard with the best factor. After onboarding, we will help you set up and run your invoice factoring task. We will help you 24/7365.  MaxTruckerUniversity: We have created a knowledge portal that helps owner-operators succeed in business. We share our  knowledge about all trucking-related topics such as: ?nding a broker/shipper who works with new MC drivers/owners with our dispatch service.   How to ?nd good loads to pull? Which load boards to use? https://www.maxtruckers.com/dry-van-factoring/ 8/12

  9. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) What are insurance requirements?  How to ?nd the best dispatch company for your business? Who to ?nd a good factoring company to work with? How to ?nd comprehensive insurance policy coverage for all your needs?   What are the bookkeeping and accounting requirements?  What are the ELD and reporting norms etc?  DAT Load board Subscription: MaxTruckers provides you with a one-month free trial of DAT TruckersEdge load boards, the industry-leading loadboard in the USA. With it, you can hunt, ?nd and negotiate high-paying loads from your mobile and desktop. Every day DAT TruckerEdge hosts 600,000 unique loads, you can put your trucking company in hyperdrive using DAT TruckersEdge. 300 member broker list for new MC owners/drivers: We understand how hard it is to work as a new MC operator/trucker, so we have created a list of 300 brokers who are ready to work with new owner-operators. Trucking Startup Friendly: We know how hard it is for trucking startups to survive in the hyper-competitive trucking space. We provide you with the tools, operational acumen, and contacts to prosper in all facets of trucking. Maxtruckers also provide knowledge resources, tools for the operation, due diligence. We provide vital services insurance like factoring, bookkeeping, etc for fresh of the blocks trucking companies. Scroll down to see the price Previous Box Truck Factoring Next   Flatbed Factoring Company In North America  https://www.maxtruckers.com/dry-van-factoring/ 9/12

  10. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) Product Pricing Dispatch 1. Dispatch ; Loads Just @ $49/Week/Truck + 5% of the previous week’s gross revenue Fuel Card 1. TCS: Q4 of 2023 was 54 cents per gallon along with $0 transaction fees for in-network fuel purchases 2. RoadEX Fuel Credit Card; up to $6000 / per week LoadBoard $45 Per Month (Get 10% off on your ?rst 12 months) DAT TruckersEdge provides carriers access to the trusted DAT ® Network, North America’s largest marketplace for freight loads and trucks, with over 900,000 loads posted daily. With TruckersEdge, you get unlimited searching and posting, instant alarm match noti?cation, broker credit scores and days to pay, market rates, mileage routing, and much more. Avail your Offer Now $180 Per Month (Get 10% off on your ?rst 12 months) $145 Per Month (Get 10% off on your ?rst 12 months) Rated Top 5 Dispatchers In USA  https://www.maxtruckers.com/dry-van-factoring/ 10/12

  11. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) Rick D Susan H. James Birdine II Nataya Martinez Jami Joh                               My experience with Ruby - Exceptional Nick was a I Signed Up With Big thank max truckers was Customer Service wonderful agent MT. Nick made.. Ruby S My experience with max truckers was Excellent from start to ?nish. Mrs Ruby I’m my opinion one of the best helpers I ever received from an active associate from a company. Read more>> Ruby was professional/listened to my concerns/was patient as this was new territory for me/solved all my issues/Exceptional Customer Service! Thank You Susan H. Nick was a wonderful agent, very professional and informative. He has a lot of patience and was very helpful. Read more>> Great company to work with. Nick was a big help helping me get everything started. All applications were easy and self explanatory. Big thanks What an a person to representi Truckers! R not pushy after spen time expla different o more>>  Date of experience: September 15, 2023 Date of experience: June 21, 2023 Date of experience: September 19, 2022 Date of experience: June 22, 2022 Date of ex April 20, 2 Testimonials    https://www.maxtruckers.com/dry-van-factoring/ 11/12

  12. 1/22/24, 11:19 AM Best Dry Van Factoring Service In North America (2024) Email address Subscribe to our Newsletter General Queries: ruby@maxtruckers.com Service Queries: +1 (909) 296 – 6688 REGISTERED ADDRESS 8 The Green, STE A, Dover, Kent, Delaware City, DE, United States, 19901 WORKING HOURS Monday – Friday (09:00 AM – 06:00 PM EST) Saturday & Sunday – Closed QUICK LINKS Dispatch Service | Fuel Card | Load Board | About US | Contact Us        © Copyright 2023 Max Truckers Pvt Ltd. All Rights Reserved.  https://www.maxtruckers.com/dry-van-factoring/ 12/12

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