FACTORING
Manage Your Cash Flow
Legacy Financing offers factoring services to help businesses manage their cash flow and avoid debt. With our quick and easy process, we can pay invoices within 24-48 hours and have an average payback tenure of 30-90 days. In addition to factoring, we also offer a range of additional services such as a no-fee credit line, roadside emergency service, fuel discounts, and more.
What is Factoring?
Factoring is a financing method in which a company sells its accounts receivable at a discounted rate to a third-party funding source in order to increase cash flow. Legacy Financing will buy your invoices for delivered loads and collect payment from your customers. Once approved, you will receive payment within 24 hours after providing proof of delivery.
There are two types of factoring: Recourse and Non-recourse.
- With Recourse Factoring, the company retains liability for the collectability of the invoice and is available at a lower discount rate.
- Non-recourse Factoring, on the other hand, transfers liability for debt collection to the factoring company and can be a good option if the risk of non-payment is high.
Legacy Financing’s factoring services offer several advantages, including risk-free freight factoring, no added cost for invoice creation, billing, and collection services, and a dedicated, multilingual team committed to your needs. We also offer same-day funding.
