How Factoring Works

One of the most important features of how factoring works with Cashway is that you do not need to change the way you do business to factor your invoices with us.  You can find loads any way you like and we do not force you to work with anyone you don’t want to.  

If you are finding your own loads or if you are using an independent dispatch service and you want to pre-qualify the brokers and shippers you do business with, you can search our exclusive & private confidential database of thousands of popular brokers and shippers for free. Search for new customers by MC number, company name or by geographic radius search.

Cashway will purchase the freight bills of all companies with approved credit status.  If a company is not listed as approved,contact us and we will perform additional credit research and attempt to approve the company for factoring at no additional charge to you. Companies may be listed as denied for factoring in our database if they do not meet our credit standards due to having a history of paying freight bills in up to 90 days or more, having a history of claims,delinquency or legal issues, having a high risk of insolvency/bankruptcy, or for other reasons we will will be happy to discuss with you in detail on a case-by-case basis.  

Cashway will not stop you from doing business with any company. We are not a credit reporting agency, but we will not factor freight bills for companies who are not listed as approved. We recommend that you consider collecting cash-on-delivery for any loads you decide to haul for companies with denied factoring status.

When you deliver a load, simply send Cashway proof of delivery to receive an immediate payment. Send as many loads at a time as you want! Drivers may send in their paperwork as soon as they deliver or you can save up multiple shipments and send them all at once for weekly or bi-weekly payroll; whatever works best for you and your business.

Include the rate confirmation and proof of delivery for each load you want to factor, along with a simple Cashway Funding Sheet that we provide for you to use as a cover sheet.  You do not need to prepare or submit invoices with your paperwork. Cashway will prepare all of the invoices for you and we will submit them to your customers with your delivery paperwork as part of our factoring service.  

Send us the paperwork any way you want; fax, email, web upload, smartphone scanning app, or by drop-off at our Atlanta, GA factoring office.  There are no additional fees or charges for any sending method.  Freight bills received by 3pm Atlanta time will be processed for same-day funding.

Speed and consistency are important features of how factoring works with Cashway. If there are ever any questions about your factoring paperwork you can depend on our friendly account managers to get in touch with you quickly to resolve any issues. Our team of experts will work with you continuously to ensure that your payments will always arrive on time as promised.

Cashway provides same-day funding when your freight bills arrive before 3pm Atlanta time and are processed at our office. The money we send you when you factor freight bills is not a loan and there is nothing to pay back (subject to any terms in your factoring agreement).  You are free and clear.

You can choose to receive funding by ACH direct deposit, wire transfer to your business checking account,  Comdata fuel card(s), Comchek Express Code(s), Cashway Juice Prepaid Mastercard®, traditional bank check(s) and more.  We can split your factoring settlements between multiple funding methods for you when you want us to and you are free to use different funding methods any time you factor freight bills. 

When your invoices have been processed, payment has been sent and your factoring settlement is complete, we will email you confirmation so you will always know that your invoices have been paid and money is on the way.