Comparing Factoring Companies
Capital Depot encourages you to contact other factoring companies to compare their factoring services to ours. In fact, please use the chart below as a typical questionnaire when contacting them and see for yourself why so many trucking companies are becoming our clients.
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Factoring Services | Capital Depot | Our Competitors |
---|---|---|
Sign Up Cost | $0.00 | @250-500 |
Sign Up Time | 2 minutes | Several Days |
Advance Rate | 100% | 80% – 91% |
Reserve Rate | 0% | 20% – 9% |
Funding Time | Same Day | Same Day – Few Days |
Type of Factoring | Non Recourse | Recourse |
Processing Fees | $0.00 | $1.00 per freight bill |
Monthly Minimum | $0.00 | $7,000 – $15,000 |
Fuel Cards Accepted | 10,000 Truck Stops | 5,000 Truck Stops |
Online Broker Approvals | Over 100,000 loads approved daily | Less than 100,000 loads approved daily |
Processing Invoices | Bookkeeping Services are Provided | No Bookkeeping Services are Provided |
Long Term Contracts | No Long Term Contracts | Minimum 1 Year Factoring Contracts |
Penalty to Stop Factoring | $0.00 | $1,000 – $30,000 |
Forced Contract Renewal | Absolutely not | es & Penalty to Stop Factoring |
Penalties to Stop Renewal | No forced renewal in our contracts | $1000 – $30,000 |
Must factor all freight bills | Absolutely not | Yes |