Use Recourse Factoring with Love's

What is Recourse Factoring?

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When deciding what type of factoring product to use, you should carefully review recourse and non-recourse options to determine the best fit for your trucking company.

With recourse factoring the trucking company retains liability for the ultimate collectability of the factored invoice. As this carries less risk to the factor, recourse factoring is generally available at a lower discount rate. The factor purchases the freight invoice from the trucking company, but it may become uncollectible for any number of reasons (e.g. file bankruptcy, go out of business, claim/dispute on the load, etc.) which may result in a “charge back” to the trucking company.

Who Should Use Recourse Factoring?

  • Hauling for established and creditworthy customers
  • Interested in the lowest possible rates
  • Comfortable with a small reserve
  • Maximize the most cash for your invoices
  • Financially capable of paying back uncollected invoices to the factor

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Advantages of Recourse Factoring with Love’s Financial

  • Lower discount rates; maximize your funds from invoices
  • The approval process is fast! At Love’s Financial, approval happens 24-72 hours after we receive a completed application package
  • Extensive database of credit approved brokers, shippers and freight forwarders; larger credit limits for your customers
  • Ability to choose which customers you would like to factor
  • Credit terms for fuel, tires, maintenance and roadside assistance
  • Multilingual sales and operations team
  • Knowledgeable business development specialists available to come to your office to better customize a factoring solution for your trucking company
  • Bundled packages to include discounts at all of our nationwide network of travel stops
  • Scalable funding allowing maximum growth and cash flow for your business
  • Experienced collection team who maximize effort to collect invoices

Freight Factoring with Love’s Financial offers competitive recourse factoring plans. If you are interested in a custom quote built specifically for your trucking company, please reach out to our sales specialists for more information on recourse factoring. You can call us at at 1-855-495-LOVES (1-855-495-5683) or fill out this form online.