EXO Freight, the industry’s leading marketplace for open deck shipping, is excited to share the latest release of our Carrier Portal which enables carriers to factor any load they’ve hauled , whether for Exo Freight or another customer.
What is EXO Freight Factoring?
EXO Freight Factoring pays carriers for loads they’ve hauled immediately on approval, smoothing cashflow and saving time and headaches chasing down payments on invoices.
Any carrier can access EXO Freight Factoring directly through the same portal that our carriers use everyday to book, quote, and manage their Exo Freight shipments.
What benefits do I get for using EXO Freight Factoring?
- 1.5% Factoring Fee on every invoice for all size carriers
- No additional or hidden fees
- Instant credit checks
- Instant payment on all approved invoices
- Factor any load, even loads you’ve hauled for other brokers and shippers
Why did we build a factoring product?
Through conversations with our open-deck carriers, we learned over 80% were having issues managing cash flow and getting paid quickly so they are using a 3rd party factoring company or our quick pay program. Many of these carriers shared that they’d factored before but had a poor experience because of the high rates, never-ending fees, and poor customer support.
Here at EXO Freight, we believe building a leading marketplace for open deck shipments involves more than connecting shippers to carriers. We saw factoring a clear opportunity to simplify cashflow for our carriers and save them money in the process.
Today any EXO Freight approved carrier can log in to the carrier portal and sign up to start factoring. Our signup process is completely digital and takes carriers on average 5 minutes to sign up and begin factoring. Our factoring support team is ready via phone and email to help carriers navigate the process, answer questions, or transition from an existing factoring company.
Where can I learn more or get started?
To get started you can login to the carrier portal here and sign up today. Or if you’d like to start a conversation simply email firstname.lastname@example.org or call 248-392-4581 to talk to one of our factoring representatives today.
All of EXO Freight’s factoring & financial products are serviced, financed, and secured by EXO Finance, LLC, a wholly owned subsidiary of EXO Freight.