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FAQ

Some questions

  • It is a financial service designed specifically for transportation and trucking companies. It allows these companies to convert their unpaid freight invoices into immediate working capital. Smart Fleet Funding purchases these invoices at a discounted rate, allowing you to maintain cash flow and focus on growing your business.

  • With Smart Fleet Funding, it's easy! Once you register and your account is approved, send us an invoice, your signed bill of lading, and rate confirmation once you deliver a load by uploading them through your client portal or our mobile app. Once we receive them, up to 98% of the funds involved will be transferred to your bank account within 24 hours of submission.

  • Our services are designed for small and medium-sized transportation and trucking companies, owner-operators, and transportation businesses. If you generate invoices for reliable carriers or brokers, we can help stabilize cash flow and facilitate growth.

  • Smart Fleet Funding stands out for its personalized service, competitive rates, and deep understanding of the unique challenges faced by transportation and trucking companies. Our team is committed to providing flexible solutions that meet the specific needs of your business.

  • Factoring is suitable for companies of various sizes, from startups to large enterprises. It's more about the creditworthiness of your customers.

  • Factoring can improve customer relationships by ensuring that you have the resources to deliver products or services on time.

  • Typically, factoring companies evaluate the creditworthiness of your customers and the quality of your invoices.

  • Absolutely. Factoring provides an immediate cash injection, which can help companies cover operating expenses, payroll, and other financial obligations.

  • We believe in transparency. Smart Fleet Funding offers flexible terms with no hidden fees. We work with you to create a factoring agreement that meets your business requirements. You're not bound to long-term contracts, giving you the freedom to invoice as much or as little as you need.

  • Recourse factoring means that the company is responsible for any unpaid invoices, while non-recourse factoring means that the factoring company assumes the risk of non-payment. The choice depends on your risk tolerance and the creditworthiness of your customers.

  • Factoring companies conduct credit checks on your customers to assess their ability to pay. This helps determine the advance rate and reduces the risk of non-payment.

  • Factoring is a common financial practice, and many businesses see it as a sign of stability. It ensures that you have the resources to fulfill orders in a timely manner, which can enhance your reputation.

  • Currently, we only accept payments via checks and direct deposits (EFT-ACH). This ensures a secure and efficient transaction process.

  • We have accounts in both Canadian dollars (CAD) and US dollars (USD) to provide flexible payment options that meet the needs of our clients.

  • Yes, in addition to our factoring services, Smart Fleet Funding offers a variety of complementary resources and services to support your business:
  • Fuel Card Program: We provide access to a fuel card program that offers discounts on fuel purchases at major truck stops nationwide. This helps you save money on one of your most significant operating expenses.
  • Insurance Assistance: We can connect you with reputable insurance providers specializing in transportation commercial insurance. This ensures that you have the coverage you need to operate your business safely and comply with industry regulations.
  • Customer Support: Our dedicated customer support team is available to assist you with any questions or concerns you may have. Whether it's about your factoring account, fuel card, or insurance, we're here to help.
  • Industry Expertise: Our team has extensive knowledge of the transportation industry and can provide valuable insights and advice on best practices for managing cash flow, optimizing routes, and improving operational efficiency.
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