Login to verify we will purchase your freight bill by doing a MC credit check on your broker or shipper.
Overnight the freight bill to our Chicago office from any convenient truck stop.
Login to verify you have received payment directly into your bank account, or your fuel card account.
Now once you sell us your freight bills your brokers or shippers are notified to remit all payments directly to our Chicago processing center.
In the event Capital Depot is not paid by the broker or shipper, it is not your problem – Capital Depot assumes all the credit risk!
Furthermore, you are paid 100% for your freight bill, less our nominal discount fee. And we do not hold back a percentage of your money in a reserve, or escrow account.
In fact, we pay out the entire 100% for your freight bill on the same day we receive your freight bill.
Also Capital Depot does not impose a minimum monthly factoring volume on your trucking business. You have the flexibility to use our factoring services whenever you want and you are not contractually bound to us for any length of time.
Nor are you required to factor all of your invoices. We simply factor on a broker by broker basis, which means if you commence factoring a certain broker’s freight bills you are required to continue factoring that brokers freight bills until you contact us and inform us otherwise. Now once you inform us to cease factoring a particular broker’s freight bills, we are required by law to fax a letter to the broker informing them to redirect all future payments directly to your trucking business.
By becoming a factoring client of Capital Depot you are also eligible for a fleet card that allows you the flexibility to administer reports and even control the spending limits of every card you distribute to your drivers – from the convenience of your desktop computer.
And if you do not have the time to create invoices for your bill of ladings we can provide this service for a nominal fee, which allows you the time freedom to attend to the everyday operations of your business – rather than dealing with bookkeeping tasks.
In addition, upon creating an account with Capital Depot you are issued a username and password which gives you access to our FREE online MC credit check program, which assures you that we will purchase the freight bills prior to you making any commitments to your broker or shipper.
Lastly, there are no start-up fees to become a client of Capital Depot, nor do we charge any processing fees.
Although, there is a small UCC state lien fee which varies depending on the location of your business. And the cost of the UCC lien will simply be deducted from the first freight bill that you factor with us.
And if you ever decide to stop factoring your freight bills with us, there is a small cost to remove the state lien. Once again, the cost to both place and remove the state lien is unknown to us and simply varies from state to state.