FACTORING INVOICES WEX FLEET ONE DRIVER

This is why they’re referred to as Wex Fleet One Factoring. is the parent company of Fleet One, a publicly-traded corporate payments company based in Maine. WEX Fleet One Factoring has a Deep Capital Source If you plan on factoring with any company, you will inevitably speak with someone at a call center (even with a dedicated account rep). Speaking of call centers, Fleet One Factoring’s call center has been ranked in the top 25 for 5 straight years by Benchmark Portal. A dedicated account manager is huge (especially at larger invoice factoring companies) because otherwise your case may be handled by the next representative at the call center. Anyone that has ever engaged in alternative funding such as invoice factoring or accounts receivable financing realizes there will probably be some snags along the way. Factoring Support Services: Huge credit database, maintenance fuel card programs, collectionsįactoring customers receive a dedicated account manager from Fleet One, which is very important.

Funding Advance: Up to 95% of eligible invoices.

Fleet One offers discounted, recourse factoring to its trucking customers. If you are familiar with your customer’s and are confident in their ability to repay their accounts receivable, this might be a good option for your business. This can improve cash flow as well as profitability. Recourse factoring is a cheaper invoice factoring option which allows smaller businesses a chance to plow those savings back into their business.

Keep in mind, non recourse doesn’t protect against refusal to pay in the case of damaged goods, etc. This allows truckers to focus on core business operations and new opportunities. Non recourse factoring includes the removal of credit risk, even if you have to pay a higher factoring fee is something we believe small businesses should advantage of.įleet One Factoring’s traditional, non recourse factoring facility, they perform the credit checks on your new or overdue customers and subsequently assuming the credit risk of your customers. Fleet One Factoring offers both discounted and non recourse factoring, which is a major benefit for customers. They offer both recourse and non recourse factoring for clients with B2B (business to business) invoices. Fleet One Factoring provides invoice factoring for truck fleets in its home state of Tennessee and across the country. Truckers are sick of delivering loads (on-time) and being forced to wait up to 90 days for payment on their invoices. In addition to fuel card savings, they offer discounts on other essentials that truckers need such as tires, wireless, maintenance and hotels. The Fleet One fuel card is also accepted at roughly 5,000 merchant locations that don’t participate in the Fleet One EDGE network. That is some real savings for a fleet as large as Kraft, and a ringing endorsement. We found a testimonial from Kraft Food’s private trucking fleet and the executive beamed that Fleet One fuel card, known as the ‘EDGE’ has resulted in cost savings of about 20 cents per gallon. It is the largest nationwide fuel discount network, according to Fleet One.

More importantly, this fleet card saves customers an average of 12 cents a gallon based on a Fleet One Factoring survey. The Fleet One fuel card, known as Fleet One EDGE, provides customers access to a network of over 3,000 fueling stops nationally. Fleet One Fuel Cardįleet One Factoring offers their trucking clients a tremendous cost savings program. They also offers WEX Clearview, an analytics program for fuel services used to identify further cost saving opportunities and uncover fraud. The GPS technology offers the most efficient (and profitable) route to deliver your load. It’s reporting service offers GPS information and Fleet One fuel card data.

FACTORING INVOICES WEX FLEET ONE DRIVER

Their technology platforms include the WEX Telematics service which improves safety by monitoring driver behavior and analyzes fuel usage. This has set them apart from many other freight factoring competitors. While primarily an accounts receivable factoring company, Fleet One’s popularity has grown because of superior technology platforms and cost savings programs for their customers. The veteran Tennessee-based invoice factoring company offers trucking finance and freight factoring solutions for fleets across the nation. If you operate in the trucking industry, you have probably heard of Fleet One Factoring. Factoring Rates: As low as 1% (see ‘Fleet One Factoring Info’ below).Small Business Funding Options: Invoice Factoring, Accounts Receivable Factoring.Fleet One Factoring Headquarters: Nashville, TN.(Read Time: 3-4 Minutes) Fleet One Reviews Small Business Line of Credit: You’ve Arrived.Industrial and Commercial Bank of China.Security Service Federal Credit Union Reviews.

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