Non-Recourse Factoring
Non-Recourse Factoring
Get paid fast by submitting your invoices and letting Outgo, a DAT product, handle the rest.
As a carrier or owner-operator, you take on plenty of risks, from negotiating loads to delivering goods on time. Non-recourse factoring not only reduces the headache of tracking down payments from your customers, it also offers better financial security than recourse factoring, so you can focus on business growth.
- Simplify invoicing and payments with Outgo.
- Reduce nonpayment risks with non-recourse factoring.
- Get paid now for the work you’ve already done.
Simplify invoicing and payments with Outgo.
Partner with a trusted non-recourse factoring company and leverage technology to propel your financial growth.
Outgo, a DAT product, stands out among the best non-recourse factoring companies thanks to its easy-to-use iOS, Android, and web app. Outgo generates your invoice automatically from your uploaded documents. And because its invoicing works so fast, you get paid faster.
Reduce nonpayment risks with non-recourse factoring.
Enjoy peace of mind with non-recourse factoring from a firm that will track down your customer payments.
When you’re weighing your options between recourse and non-recourse factoring, the key element to consider is risk. Both options will usually unfairly place nonpayment risk on carriers. That’s how Outgo, a DAT Product and one of the best factoring companies offering non-recourse factoring, is able to set itself apart. For a small fee, they assume the risk. Take the burden of risk off your shoulders by relying on a non-recourse factoring partner you trust.
Get paid now for the work you’ve already done.
With non-recourse factoring, you can rest assured that the funds in your bank account are yours to keep.
You love trucking, but that doesn’t mean you’ll work for free. Carriers and owner-operators often explore both recourse and non-recourse factoring to bridge the crucial final mile. Outgo, a DAT product, is one of the best non-recourse funding companies who will pay for your loads and manage follow-up and paperwork with your customers.
Recourse factoring can mean that funds leave your wallet if a customer fails to pay. Whether you’re an owner-operator or carrier, Outgo’s non-recourse factoring ensures you get paid quickly with reduced risk to your earnings.
In recourse factoring, the carrier assumes the risk of nonpayment for invoices. Non-recourse factoring, on the other hand, is a financial solution that alleviates the risk of nonpayment for carriers. In this arrangement, a factoring company—such as Outgo, a DAT product—assumes the responsibility of collecting customer payments for a fee. Unlike in recourse factoring, where the carrier bears the risk, non-recourse factoring shields you from financial impact if a customer doesn’t pay because they went bankrupt or went out of business. It’s a strategic option to be confident in your cash flow, providing peace of mind and financial stability for trucking businesses.
Recourse and non-recourse factoring are two different approaches to managing payment risk for invoices. Recourse factoring places the burden of nonpayment risk on the carrier if the customer fails to pay within a specified timeframe. For example, if a customer has not paid your factor 90 days after you factored the invoice and received payment, you’ll have to repay the recourse factoring company. In contrast, in non-recourse factoring, your factoring partner assumes the risk for you in the event your customer goes bankrupt or out of business. Outgo, a DAT product, is one of the best non-recourse factoring companies, and takes proactive measures to manage risk, providing a safety net for carriers and giving you peace of mind.
Outgo, a DAT product, is the leading non-recourse factoring company. In contrast to many other factoring companies, they stand by their promise to shoulder the risk if a customer fails to pay because they’ve gone out of business or declared bankruptcy. Outgo recognizes the substantial risks that carriers already take on as small-business owners. That’s why they prioritize your financial security by paying quickly, providing automated invoicing, and they’ll track down the paperwork to close out a customer job. Their support team is available to answer any questions.
Yes, credit checks are a key part of factoring. However, if you opt to work with a recourse factoring company, expect them to review fewer credit details in less depth because they know that you will take on the risk if the customer doesn’t pay. In contrast, the best non-recourse factoring companies conduct thorough reviews of your customers’ credit. The prevalence of non-recourse factoring in the trucking industry means that most brokers ensure they have acceptable credit to qualify. A non-recourse financing company will check that the customers you work with have all the signs of paying on time and steer you clear of ones they think present a financial risk.
Bankruptcies are an unfortunate reality in business, and as a carrier, you may find yourself in a situation where a customer goes bankrupt. Maybe you’re even waiting on payment from them for a number of loads. A typical recourse factoring company might waive your charges when this happens, but a non-recourse factoring partner offers heightened protection when you’re dealing with a bankrupt customer. They scrutinize a customer’s creditworthiness to shield you from doing business with poorly managed companies and safeguard you from the financial fallout of a bankrupt customer by taking on that risk for you.
The best recourse and non-recourse factoring companies pay quickly. You should expect to submit your invoice for same-day or next-day payment. Outgo, a DAT product, is the leading non-recourse factoring company, offering automated invoicing and industry-leading funding speeds, so you’ll get payment in as fast as 15 minutes. Never worry about manual note-keeping again with the confidence that the invoices you’ve submitted are being processed and will be paid quickly. Also, Outgo’s centralized financial platform allows you to transfer money seamlessly and access your funds faster. They also provide ACH transfers, wire transfers, and instant transfers.
Enjoy quick payments and reduce risk with non-recourse factoring!
As a carrier, each day presents new adventures — and challenges. The last thing you need is the hassle of chasing down customer payments and paperwork. Trust Outgo, a DAT product, to manage the details, ensuring you get paid promptly. Get paid and avoid risk today with non-recourse factoring.
Outgo, a DAT product
- Invoices approved within 4 hours
- Low, transparent rates (no hidden fees)
- No annual contracts, no reserves