Invoice Funding
Invoice Funding
Get the cash you’ve already earned without the wait with invoice funding from OTR Solutions.
OTR Solutions factoring services help you get the funds you need fast with customized invoice funding programs that work for your business. You can get instant funding straight to your bank account with OTR BOLT, expedited funding via wire transfers, or an overnight ACH as soon as your invoice is processed and then OTR Solutions takes care of the rest.
- Eliminate gaps in your cash flow with invoice funding.
- Stop worrying about slow-paying customers.
- Get invoice funding services that work for your business.
Eliminate gaps in your cash flow with invoice funding.
Invoice factoring funding means you get paid within 24 hours, not 30 or 60 days after delivery.
Far too often, carriers and owner-operators feel like they’re playing catch up in the endless struggle to cover expenses while waiting to get paid for the work they’ve already done. These kinds of gaps in cash flow can lead to taking on debt.
With invoices funding, you can get the money you’ve already earned when you need it, instead of waiting months for your customers to pay. That way you can focus on your business and let invoice finance factoring take care of the rest.
Stop worrying about slow-paying customers.
Invoice factoring funding means you don’t have to give up business opportunities just because you’re waiting to get paid.
When you don’t have cash available to run your business, you might have to give up great loads because you can’t cover the expenses, like fuel and maintenance, necessary to deliver them.
Invoice financing companies like OTR Solutions help ensure you never have to make that sacrifice by offering invoice funding that puts the cash you’ve already earned into your hands without any loans or debts.
Get invoice funding services that work for your business.
Trucking businesses aren’t one size fits all, and neither are factoring and invoice discounting services.
OTR Solutions is designed to deliver fast, customized factoring funding that meets your specific business needs. When you get invoice funding through OTR, you will get paid within 24 hours of submitting your invoice through BOLT Instant Funding, ACH, or wire transfer.
Even better, with OTR there are no monthly minimums, credit restrictions, or volume limits, meaning you are free to get factoring funding for all the invoices you want to factor – and none of the ones you don’t.
"OTR Solutions is a wonderful company to work with. They go above and beyond to meet your needs. Everyone I have worked with has always been really nice and professional. I would recommend OTR Solutions to everyone looking for a great factoring company."
- Nicole Ives
"OTR Solutions is one of the best things that has happened for our company Sal-Trans Express, Inc. Their Customer service is of the best quality. Provide detailed explanations to all questions asked and truly always look out for their customers. Their personalized services have allowed our company to scale quickly and allowed us to make the necessary decisions for our company."
- Eduardo Salazar
Invoice funding or invoice factoring is the process of selling your invoice for a trucking job to a third-party company that then pays you the value of the invoice (minus a small fee). That way you are no longer responsible for tracking down a customer for payment and you get the cash you already earned within 24 hours of submitting your invoice. It’s up to the invoice financing companies to then track down payment from the customer, no matter how long it takes.
With recourse factoring, you remain financially responsible if your customer does not eventually pay the invoice. That means you will need to return the amount the factoring funding company paid you if the invoice is not filled by the customer.
Non-recourse factoring comes with a slightly higher fee than recourse factoring, but in return for that fee, the factoring company takes on the risk of a customer not paying.
It’s worth noting that only one invoice funding company offers true non-recourse factoring, where you will not be held financially responsible if the customer doesn’t pay their invoice: OTR Solutions. So if you are interested in non-recourse factoring for any or all your invoice funding needs, OTR Solutions is the best – and only – choice.
The main benefit is that invoices funding gets you the money you already earned within 24 hours of submitting an invoice. That means eliminating cash flow problems and reducing the chances that you’ll have to turn freight down simply because you haven’t been paid for your last load yet.
Another benefit of factoring with OTR Solutions is that you get the freedom to be paid how you want and when you want. With no monthly minimums or volume limits, your business can grow and scale without worrying about additional credit extension or volume restrictions on a dedicated customer. That freedom means you can run your business on your terms with a factoring funding partner supporting you each step of the way.
The real answer is yes. Invoice funding is regulated and held to guidelines that protect our nations carriers. However, the quality of service provided, and the value your business receives from that service can vary widely. There are also some companies with hidden fees that can make the process more expensive than originally promised. But if you factor with a trustworthy company like OTR Solutions, the process is entirely safe and transparent with no hidden fees or monthly minimums. OTR Solutions’ unique, true non-recourse factoring offering means you won’t even be held financially responsible if a customer doesn’t pay the invoice. It’s a safe, powerful invoice funding option to help your business thrive.
Invoice funding costs are calculated as a percentage of each invoice. Typically that percentage is 2% or higher. In some cases, the percentage can seem appealingly low, but many invoice funding companies have additional, often hidden fees that make the cost of invoice funding go way up while still letting them advertise a nice, low rate.
Luckily, with OTR Solutions what you see is what you get. There are never any hidden fees or monthly minimums, so you can be confident when it comes to the cost of invoice funding.
If you’re looking for trustworthy invoice funding that offers good rates, flexibility, transparency, and honesty, there is no better choice than OTR Solutions. With OTR, you have the freedom to make invoice funding work for you, only factoring the invoices you want to factor and none of the ones you don’t. Plus, OTR offers additional back-office solutions, fuel advances, equipment financing options, and much more to help your business succeed.
If you want to start getting factoring funding for your invoices, there’s no better choice than OTR Solutions.
Start invoice funding today!
When you partner with OTR Solutions for your invoice funding, you’ll get the cash you need when you need it, backed by a company that delivers the transparency and trustworthiness you deserve.
Register with OTR Solutions today to take control of how you get paid!