Frequently Asked Questions

1. What is Factoring?

Factoring is the sale of part, or all, of a company’s accounts receivable in exchange for fast cash. The buyer of the accounts receivable, Marquette Transportation Finance, assumes the responsibility for managing the accounts receivable including most credit and collection services. Factoring is an ideal resource for businesses seeking a reliable, consistent source of working capital.

2. What can financing my accounts receivable do for me besides improve my working capital?

There are many benefits to be derived from having cash immediately. Financing your accounts can lead to greater operating efficiencies. Plain and simple, Marquette Transportation Finance reduces your overhead costs. Large expenses such as staff salary; expenses and benefits related to collections, credit investigations and bookkeeping may be reduced, as well as general office overhead such as postage, telephones and space.

3. How does Marquette Transportation Finance’s program work?

As soon as you complete your service or deliver your goods, your invoices are forwarded to Marquette Transportation Finance for funding. Upon receipt of the invoices we will advance a percentage of the face amount, minus our fee, to your bank, usually within 24 hours. As the invoices are collected, we release the unfunded portion of the reserve to you. You may use your funds to meet payroll, purchase equipment or whatever you think your company needs to keep it on track and growing. Most importantly, you will have the cash flow you need to pay vendors and suppliers in a timely manner. Many times, this will allow you to meet the criteria for vendor discounts that you have not been able to take advantage of in the past.

4. What type of company can benefit from Marquette Transportation Finance’s financing program?

Marquette Transportation Finance’s niche is trucking companies. We establish a credit line appropriate to each carrier’s cash needs. Our financing can support a company that is going through an acquisition or a merger. In our fast paced economy we are also assisting many high growth companies seeking a larger market share and larger customers. Additionally, we assist in under-capitalized and turn-around companies. Financing your accounts with Marquette Transportation Finance will assist your company with your future business decisions.

5. What other services are included with Marquette Transportation Finance’s program?

Factoring with Marquette Transportation Finance automatically provides you with a backroom of highly skilled service professionals who become a valuable extension of your staff. Marquette Transportation Finance can provide you in-depth credit information on new and potential customers. Upon invoicing, our Account Specialists will professionally handle the follow-up with your customers for prompt payment as the invoices become due. Our reporting services include online web reporting to keep you informed with up-to-the-minute data on your payments and cash deposits. We want you to spend your time doing what you do best; growing and running your business more efficiently.

6. Do I have to give you all of my business?

No. You can choose which customers you want to factor and which you do not. For example, you may have a particular customer that pays you very quickly and you would prefer to deal with them directly. In those cases, you can notify Marquette and proceed as usual with your customer.

7. How are the fees and contractual terms determined?

Your fee is generally based on your company’s financial standing, annual volume, business type, and how quickly the receivables can be collected. The standard length of the contract with Marquette Transportation Finance is one year; however, we can and will write a contract that is mutually beneficial.

8. What geographic region does Marquette cover?

Marquette Transportation Finance provides service to the 48 contiguous states. With headquarters in Bloomington, Minnesota, we are able to strategically service and manage all businesses from coast to coast with the central time zone allowing full coverage. .

9. How do I get started?

Click on the “Contact Us” tab on this website to find out which representative covers your state. Our representatives have numerous years of experience and are ready to assist you with whatever your business needs are to grow and prosper. Call them today!