The fix
Factoring, in one sentence.
You hand your invoice to Summar, they pay you within 24 hours, and they collect from the broker when the broker finally gets around to it.
Six weeks of fuel. Six weeks of insurance. At least one truck note. All out of your own pocket while broker check #1 sits in someone else's accounting queue. Factoring closes that gap: paid in 24 hours on load #1.
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Disclosure: if you sign up for factoring through this page, I earn a referral fee from Summar. It costs you nothing extra.
Here's your first 45 days on a net-45 broker. Every striped day, the money comes out of YOUR pocket. The broker pays once - on the last one.
And that's a good broker. Net 90 doubles this calendar. You know your weekly fuel number - count the squares and multiply. That's the float you carry, per invoice, out of savings.
You hand your invoice to Summar, they pay you within 24 hours, and they collect from the broker when the broker finally gets around to it.
Carriers are told to line up factoring before their authority even activates. You can apply now, whether your first load is booked or not.
Run the load like normal. Send the invoice and paperwork to Summar instead of waiting on the broker.
The money hits your account within 24 hours. Summar waits out the broker's net-30-to-90 clock, not you.
Without factoring: deliver a load, wait net 30 to net 90 for the broker to pay, and cover every expense out of savings until the check shows up.
With factoring: deliver a load, get paid within 24 hours, and use that money to fuel the next one.
"I'm very proud of working with Summar for the last five years. Picking up the right trips with good money is very important, but so it is to have the money available in 24 hours like you have with Summar. I recommend Summar factoring unconditionally."
— Summar factoring client, published at summar.com
"I have been working with the Summar team for over three years. We all work in different ways, and they adapt to those circumstances. I have had offers from other cash factors. I won't leave Summar. I'm very happy."
— Summar factoring client, published at summar.com
These are Summar's own published client reviews. We're an independent referral partner. The results above are theirs, not ours.
Summar's factoring fee starts as low as 2% of the invoice, and they advance up to 98% of it, often the same day. Here's the other side of that math: while load #1's check sits with the broker for 45 days, you can't fuel load #2. A parked truck costs more than any factoring fee.
And the honest version: if you have enough saved to float 60 to 90 days of fuel, insurance, and payments, you may not need factoring yet. Most new carriers don't. That's fine. It's what factoring is for.
Plenty of companies factor freight. A few things make Summar a straightforward first call when you're brand new:
Program details as published by Summar (summar.com). Confirm the specifics that apply to your operation when you apply.
Start getting paid in 24 hours
Disclosure: I earn a referral fee if you sign up through this link. It costs you nothing extra.