Transfac Capital has been financing transportation since 1942. We take pride in our service and it shows with several client relationships exceeding ten years or more. Transfac is proud member of the Transportation Intermediaries Association (TIA).
Cash Flow - Transfac is one of the few companies that can finance freight brokers and understands the need to have steady cash flow. The industry average for receiving payment is 41 days, but most carriers want to be paid in 30 days, 7 days or immediately. By financing accounts receivable, brokers can get cash immediately to take care of carriers, commission and expenses.
Accounts Receivable Management - Transfac helps brokers focus on what they do best; maintain and build relationships with carriers and shippers. We can handle credit management, billing, collecting, and cash application. By outsourcing these tasks, a brokerage, or any company, can maximize its resources and profits.
Improved Credit Rating - By handling carrier settlements, Transfac will improve a broker's credit rating with the different reporting services. Many carriers use factoring companies that report to the different credit agencies so paying them on time improves score. A better credit score will cause better carriers to want to work with the brokerage.
One of our customers, a Broker from Arkansas said: Recently a credit reporting agency called me to let me know I was the highest rated broker in their system. They said it was due to me paying all my carriers on time or sooner. Thanks Transfac!