Frequently Asked Quesitons
How does freight factoring work?
Once an owner-operator delivers their freight, you simply scan your invoice, rate sheet, bill of lading and then send them to CST Financial. We then pay you up to 95% within 24 hours.
How much does freight factoring cost?
CST Financial offers tailor-made solutions for your business, Pricing is based on number of trucks, monthly volume and your customer base. With a completed application, we can get you a quote right away.
Do you work with small businesses & startups?
Small businesses and startups often need quick funding in order to pay for overhead. CST Financial is designed to serve businesses of any size.
What are the minimum and maximum freight invoice amounts you will fund?
There is no minimum or maximum amount we will fund. Businesses and invoices of all sizes are accepted.
How do you pay owner-operators?
Your funds can be deposited by ACH or on a fuel card.
Will my credit score affect my freight factoring approval?
While the Underwriting team will review your credit, it’s not the only factor we look at for approval. CST Financial will not turn you away based on credit score alone.
Can I factor shippers or freight brokers?
Yes, we can factor both kinds of customers, as long as they are approved through our credit department.
What is a UCC filing?
The UCC filing is a lien that gives the factoring company the legal right to collect on your receivables.
What initial documents will you require?
Our required documents are: Operating Authority, Insurance Certificate, Copy of photo ID, Articles of Incorporation/Organization, W9 and completed application.
Will freight factoring invoices give my customers any concern that my company is having financial difficulties?
Not at all. Factoring is extremely common in the commercial transportation industry due to the high cost of fuel, insurance and all other costs associated with your business.
How do I send my invoice and bill of lading?
You can scan and email all documents to us or also fax directly to 801-566-1720.