Prime Factoring

Prime Factoring: invoice factoring for freight and service businesses

Prime Factoring is a factoring company that advances cash against outstanding invoices. Its activity is aimed at both freight carriers and service businesses, with the goal of enabling them to pay drivers, cover expenses, and keep operating without waiting for their customers to settle invoices.

The company presents itself as a firm that funds ongoing operations and that, according to its own communications, operates without long-term contracts or hidden fees. Its headquarters is located in Ellisville, Mississippi.

Factoring services

The service catalog the company displays includes three main lines:

• Freight factoring: cash advances on freight invoices for trucking companies.
• Invoice factoring: financing of outstanding invoices for service businesses and other sectors.
• Startup support: assistance for businesses just getting started.

How the process works

The procedure described by the company is structured in three steps. First, the client sends a copy of the invoice they wish to factor along with supporting documentation. Then, Prime Factoring verifies the invoice and advances up to 100% of its value directly to the client's account, typically within 24 hours. Finally, the end customer pays Prime Factoring instead of the client, and once full payment is received, the company transfers the remaining balance minus a small fee.

Client profile and coverage

The company serves freight carriers and service businesses, and its application form collects data such as the number of trucks owned, with options ranging from one to more than ten. The company states that it has funded operations for freight and service clients nationwide, and that it has more than a decade of activity in the sector.

Operating data

According to figures published by the company itself, the average invoice advance is delivered within 24 hours, it has funded more than $10 million to freight and service clients nationwide, and it has more than ten years of experience. The company cites the testimonial of McQueen Transportation, a client that highlights the communication and the punctuality of payments.

Location and contact

5212 Highway 11 N, Ellisville, MS 39437 · Email: apply@primefactoring.net