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Factoring 101

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Frequently Asked Questions

At Denim, we’ve made it our mission to help brokers simplify their back office operations and give them more time to run their business.

Factoring Basics

How does Factoring work?

When you factor the invoice, we reserve 10% of the invoice amount until the shipper pays. We pay your carriers first and then the remaining advance goes to you. When the shipper pays, we pay the remaining minus our fee.

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How is Denim’s factoring for trucking companies different from other providers?

Denim offers flexible factoring options, allowing you to choose which loads to factor and when to accelerate payments. With no hidden fees, transparent terms, and full control over your cash flow, Denim helps you manage your finances with confidence.

What is non-resource factoring?

Non-recourse factoring means the factoring company assumes most of the risk of non-payment by your customers. This can be misleading because non-recourse does not necessarily protect your company from all risk. There are usually strict stipulations associated with non-recourse factoring, and the situations in which you are not responsible for customer non-payment are extremely specific.
For example, most factoring companies offer non-recourse that only applies if a debtor declares bankruptcy. And they limit non-recourse agreements to debtors that have a good credit rating. This means the shippers with bad credit ratings (who are at the highest risk of non-payment) aren’t even eligible for the non-recourse program. A majority of non-recourse agreements have a much higher factoring rate (sometimes by a full percentage). It’s important to determine whether the higher rate is really worth the cost.
Denim is a factoring company with a strong credit team. We are here to help you avoid working with customers that have poor payment histories. The best option is to establish long-lasting relationships with customers that have good credit and solid payment histories. This enables you to pay lower fees for recourse factoring without worrying about the risk.

Working with Denim

Are there any hidden fees with Denim’s services?

No, Denim prides itself on transparent terms with no hidden fees. You always know what you're paying for, with no surprises.

Can Denim integrate with my current systems?

Yes! Denim integrates with over 16 Transportation Management Systems (TMS) and other tools, allowing you to streamline job data entry, reduce errors, and save time.

Do I have factor all my invoices?

No. Which loads you factor is up to you. Even if you don’t factor, we provide payment processing and collections.

Does factoring with Denim increase my credit approval with carriers?

Absolutely! By factoring with Denim, you receive increased credit lines from other factoring companies which allows you to expand your carrier base. We are dedicated to paying carriers on time and fast, ensuring your credit score is perfect.

How does Denim help reduce administrative overhead?

Denim automates key back-office processes like invoicing, payments, and collections. This means you can handle more transactions without adding extra staff, allowing you to focus on growing your business.

How does Denim’s Flexible Factoring work?

Denim allows you to choose which loads to factor, giving you full control over your cash flow. Flexible Factoring allows you to reduce your factoring rate when you delay your advance or carrier payments. You can save even more money when your shipper pays faster than 30 days.

How does Denim’s fuel card program work?

The Denim Carrier Card offers significant fuel discounts, saving you up to 84 cents per gallon. It also provides fraud protection, and helps build your business credit with regular repayment reporting to Experian.

How fast can I get paid using Denim’s factoring services?

With Denim, most payments are advanced within one to two business days, giving you quick access to your funds so you can keep your trucks on the road. In addition, get paid within minutes of invoice submission, any time of day, with Express Factoring.

How is Denim’s factoring for trucking companies different from other providers?

What is the minimum contract duration with your factoring company? Do you have a month-to-month option?

Our standard agreement is on a month-to-month basis.

What kind of reporting and analytics does Denim provide?

Every Denim client is paired with a dedicated account manager who provides personalized support. Whether you have questions or need help with financial challenges, we’re here to guide you every step of the way.

What kind of support does Denim provide?

Every Denim client is paired with a dedicated account manager, who provides personalized support to help you navigate any financial challenges and keep your fleet running smoothly.

Will Denim take over my relationships with brokers and shippers?

No. Denim operates behind the scenes, handling invoicing and payments while you stay in full control of your relationships with brokers and shippers.

Pricing

Are there any hidden fees with Denim’s services?

No, Denim prides itself on transparent terms with no hidden fees. You always know what you're paying for, with no surprises.

Can I get a lower factoring free or higher advance?

If you are a well-established business with large monthly volumes and stable customers, speak to our sales team so we can design a program that works for you.

How long does your 'quick pay' take to issue payment to carriers/truckers?

Payments are issued typically within 2 business days, pending errors or special conditions.

Is there a minimum factoring fee per invoice?

No, there is no minimum factoring fee per invoice. You Can upload a $200 invoice, a $2,000 invoice, or a $20,000 invoice all through the same system.

What is the minimum contract duration with your factoring company? Do you have a month-to-month option?

Our standard agreement is on a month-to-month basis.

Payment Processing

How does the carrier QuickPay work?

If you factor an invoice, we will fund your carrier within 24-48 hours. You can charge whatever QuickPay fee you want to the carrier. We don’t charge anything to you.

How fast can I get paid using Denim’s factoring services?

How fast do you pay?

Jobs submitted before 12pm (noon) Eastern Time will be scheduled for funding the next business day, provided there are no issues.

What are your payment options?

Same-day ACH

Free
Arrives by end of business day

Mailed Checks

Free
Printed and mailed by end of business day

Denim is the all-in-one financial platform for modern freight brokers, trucking companies, and 3PLs. Hundreds of companies trust Denim to manage their working capital, carrier payments, and back-office processes.

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