Frequently Asked Questions
Frequently Asked Questions
Clear answers about freight factoring. No surprises, no hidden traps — just honest answers to help you make the right choice for your carrier business.
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FAQ
All Questions
What is freight factoring?
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 Corp. purchases these invoices at a discounted rate, allowing you to maintain cash flow and focus on growing your business.
How does Smart Fleet Funding factoring work?
With Smart Fleet Funding, it’s simple. Once your account is set up, you submit your completed load documentation (invoice, rate confirmation, and signed BOL) through our portal. We verify the load with the broker and fund your account directly via ACH or wire, typically within 24 hours.
Who do you work with?
We work with established trucking companies of all sizes across the United States and Canada — from experienced owner operators to large fleets. If you are actively hauling loads with valid authority and insurance, we can usually support you.
Do you work with Canadian carriers?
Yes. We serve carriers across the United States and Canada. Our agreements, processes, and security filings are built for both jurisdictions.
How are factoring rates determined?
Our factoring rates are determined by several factors, including your average monthly volume, the creditworthiness of your brokers, and whether you choose a recourse or non-recourse program. We provide a clear, flat rate with no hidden escalators, so you always know exactly what you are paying.
Do you publish pricing or fee schedules online?
No, we do not publish pricing online because every trucking company has unique needs, volumes, and brokers. However, we explain our rates fully and transparently before you sign. What we quote is exactly what you pay — with no hidden fees or surprise adjustments.
Are there hidden fees?
Absolutely not. We believe in complete transparency. There are no hidden fees, ACH fees, processing fees, or surprise charges. We charge a simple, flat rate that is fully disclosed before you start factoring.
Do you require long term contracts?
No. We operate on a true open contract. You are not locked into any long-term commitments or multi-year terms. We believe our service should keep you with us, not a restrictive contract.
How do I leave if it is not a fit?
You can leave cleanly at any time. Because we operate on a true open contract, there are no exit fees, buyout fees, or penalty clauses. We just require written notice by email and a $0 account balance with no outstanding invoices.
Can I see how the relationship works before I apply?
Yes. Ask us for our commitment document — it explains how the relationship is established, how it operates, and how it can be ended. Plain English, no legal jargon.
Do you hold reserves?
No. We do not hold reserves. We do not hold back a portion of your money “just in case.” What you earn is what you receive — ensuring your cash is never tied up or held hostage.
Will factoring hurt my broker relationships?
No. We understand that your broker relationships are the lifeblood of your business. Our collections process is highly professional and respectful, serving as a seamless extension of your business. Brokers are treated with the utmost respect, protecting the good lanes you worked hard to build.
What happens if there is a dispute or short pay?
If a broker disputes a charge or short-pays an invoice, we notify you immediately. We work with you and the broker transparently to resolve the issue. We do not automatically freeze your account or take retaliatory measures; we communicate openly to get it resolved.
What if my new factor wants to do a buyout?
Yes. You are assigned a dedicated account manager with real decision-making authority. When you call, you speak to a real person who knows your account, can solve issues on the spot, and is empowered to make decisions — not someone who just takes messages.
What happens to the UCC or PPSA lien when I leave?
Once your account is settled to $0 and all obligations are complete, we release any security filings (UCC in the U.S., PPSA in Canada) associated with your account.
Do I get a dedicated rep?
Yes. You are assigned a dedicated account manager with real decision-making authority. When you call, you speak to a real person who knows your account, can solve issues on the spot, and is empowered to make decisions — not someone who just takes messages.
How fast do you fund invoices?
We process and fund invoices within 24 hours of submission. Once the invoice and load documentation are verified, the funds are deposited directly into your bank account.
What documents do you need to factor an invoice?
To factor an invoice, we need three primary documents: your invoice, the broker’s rate confirmation sheet, and the signed Bill of Lading (BOL) or Proof of Delivery (POD). These must be clear and legible.
Do I have to factor every invoice?
No. You have the flexibility to factor as much or as little as you need. There are no volume minimums or requirements to factor all of your freight, giving you complete control over your cash flow.
What are your business hours?
Our team is available Monday through Friday, 8 AM to 5 PM Eastern Time. Phones and emails are answered by real people — not automated systems.
Do you work with startups?
We primarily work with established carriers, but we also support qualified startups with valid authority and insurance in place. Contact us and we will let you know if we can help.
Ready for factoring without surprises or pressure?
Open contracts. No reserves. No termination fees.