Top 4 Factoring Companies in Georgia

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Freight factoring means the factoring company buys your invoices at a discount and collects payment from the customers on those invoices. The arrangement creates a source of fast cash for the trucking company.

There are two types of factoring companies for trucking:

  1. Recourse factors. If the customer does not pay the invoice, the trucking company pays the factoring company. The trucking company bears the risk of nonpayment.
  2. Nonrecourse factors. If the customer does not pay the invoice, the trucking company DOES NOT have to pay the invoice. The factoring company bears the risk of nonpayment, which is why nonrecourse factoring costs more than recourse factoring.

We have listed below the Top 4 Factoring Companies in Georgia:

1. OTR Capital

This factoring company in Roswell, Georgia specializes in freight and trucking factoring and provides great customer service. They believe in straightforward transactions without hidden costs, unfair termination fees, and rules. This company does recourse and nonrecourse factoring and funds 96% of the invoice value, implying a 4% fee.

“We understand the importance of quick, easy, and reliable payments and strive to provide our clients with the best factoring experience in the business. This focus allows us to build strong, long-lasting relationships with our partners built on trust.” – OTR Capital

 

2. Coeur Capital Inc.

This factoring company in Atlanta, Georgia offers working capital solutions and factoring services to small businesses. They provide Factoring and Asset Based Lending to small and medium businesses. Additionally, they are experienced in financing startups, growth stages, and turnaround situations. 

“Our mission is to improve the financial well-being of our clients.” – Coeur Capital Inc.

3. Eagle Business Credit

This factoring company in Woodstock, Georgia provides invoice factoring services to a wide variety of industries nationwide. Their management team has over 100 years of experience in managing and financing receivables. Additionally, their dedicated team is employed to understand their clients’ and prospective clients’ specific funding requirements in order to provide them with the right factoring service. 

“If our factoring services do not provide a fit for a prospective client, we will work hard to put them in touch with someone we know and trust who can help. Our goal is always to find a solution to our clients’ specific working capital funding needs.” – Eagle Business Credit

4. Action Capital Corporation

For 60 years, this commercial finance company in Atlanta, Georgia has provided financial support to entrepreneurs. They provide financing against your customers’ accounts receivable that are due from creditworthy businesses or local, state, or federal government agencies. Furthermore, they provide credit to government contractors, wholesalers, manufacturers, technology businesses, staffing companies, healthcare businesses, importers, and a variety of professional services businesses. This company can also provide more tailored or specialty credit products, including lines of credit against earned but unbilled revenue, to certain service businesses and government contractors.

“As a privately owned, non-bank financial institution, we “lend to the opportunity” which means that we meet the capital needs of growing businesses through forward-looking asset-based lines of credit.” – Action Capital Corporation

FINAL THOUGHTS

Small businesses in Georgia and its major economic city of Atlanta benefit from invoice factoring. Invoice financing improves your cash flow because you don’t have to wait 30, 45, or 60+ days to collect your receivables. You can pay for supplies, payroll, and other operating expenses much quicker.

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