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Episode #14 Factoring 101 with OTR Solutions' Gary Walker and Cam Ferguson
Factoring is an integral part of the transportation industry. the Transportation & Logistics Clubhouse welcomes OTR Capital to have an in depth discussion on the power of purchasing invoices. 12.1.2021
https://otrcapital.com/clubhouse/
Powered by Atlanta Dispatch LLC
For Dispatching Services:
www.atlantadispatch.org
Podcast Website:
transportationandlogistics.club
Join our newsletter:
transportationandlogistics.club/newsletter
Learn how to dispatch:
Physical Book Copy: transportationandlogistics.club/amazon
eBook:
https://books2read.com/u/4jqlzX
Stay updated with our happenings:
https://linktr.ee/transportationandlogistics?utm_source=linktree_profile_share<sid=601f8834-e86c-4ff1-a555-2d9ff17f1735Listen on Youtube:https://youtu.be/OovbXKi_9N4
Intro/Outro Music Shoutout:
Positive Hip-Hop by MaxKoMusic | https://maxkomusic.com/ Music promoted by https://www.chosic.com/free-music/all/ Creative Commons Attribution-ShareAlike 3.0 Unported (CC BY-SA 3.0) https://creativecommons.org/licenses/by-sa/3.0/0:00 Intro and background of guests
10:30 Common misconceptions about factoring services
16:20 What is factoring
17:12 How factoring companies come up with rates
19:24 How personal credit for truckers plays in factoring and how to avoid scammers
28:00 How brokerage can put themselves in positions to be more factorable / attractive to factoring companies
32:38 Differences between a recourse program and a non-recourse program
37:24 Additional things a carrier should have in place to qualify for the non-recourse program
38:31 Factoring direct shippers vs going through a brokerage
40:28 Carrier contact payment schedules and electronic payments
43;57 Charge Banks defined and what it signifies
46:31 Benefits for a dispatcher working with OTR Capital
52:55 Paperwork necessary for a carrier or broker to get set up with factoring services from OTR Capital
53:58 Is there a minimum amount a carrier must factor with OTR Capital monthly?
55:29 Can a carrier work with two companies, one with a monthly minimum and one with not?
56:18 Can a carrier transition to OTR Capital from another factoring company? If so. is there a fee involved?
59:06 OTR Capital and buyouts
1:02:30 Does OTR Capital work with carriers at a personal level?
1;05:32 Goals for OTR Capital
1:12:12 Does OTR Capital accept credit checks?
1:14:44 Contact information and closing remarks
1:17:21 Parting shots
1:19:38 Outro
View all episodes
By @TransportationandLogisticsFactoring is an integral part of the transportation industry. the Transportation & Logistics Clubhouse welcomes OTR Capital to have an in depth discussion on the power of purchasing invoices. 12.1.2021
https://otrcapital.com/clubhouse/
Powered by Atlanta Dispatch LLC
For Dispatching Services:
www.atlantadispatch.org
Podcast Website:
transportationandlogistics.club
Join our newsletter:
transportationandlogistics.club/newsletter
Learn how to dispatch:
Physical Book Copy: transportationandlogistics.club/amazon
eBook:
https://books2read.com/u/4jqlzX
Stay updated with our happenings:
https://linktr.ee/transportationandlogistics?utm_source=linktree_profile_share<sid=601f8834-e86c-4ff1-a555-2d9ff17f1735Listen on Youtube:https://youtu.be/OovbXKi_9N4
Intro/Outro Music Shoutout:
Positive Hip-Hop by MaxKoMusic | https://maxkomusic.com/ Music promoted by https://www.chosic.com/free-music/all/ Creative Commons Attribution-ShareAlike 3.0 Unported (CC BY-SA 3.0) https://creativecommons.org/licenses/by-sa/3.0/0:00 Intro and background of guests
10:30 Common misconceptions about factoring services
16:20 What is factoring
17:12 How factoring companies come up with rates
19:24 How personal credit for truckers plays in factoring and how to avoid scammers
28:00 How brokerage can put themselves in positions to be more factorable / attractive to factoring companies
32:38 Differences between a recourse program and a non-recourse program
37:24 Additional things a carrier should have in place to qualify for the non-recourse program
38:31 Factoring direct shippers vs going through a brokerage
40:28 Carrier contact payment schedules and electronic payments
43;57 Charge Banks defined and what it signifies
46:31 Benefits for a dispatcher working with OTR Capital
52:55 Paperwork necessary for a carrier or broker to get set up with factoring services from OTR Capital
53:58 Is there a minimum amount a carrier must factor with OTR Capital monthly?
55:29 Can a carrier work with two companies, one with a monthly minimum and one with not?
56:18 Can a carrier transition to OTR Capital from another factoring company? If so. is there a fee involved?
59:06 OTR Capital and buyouts
1:02:30 Does OTR Capital work with carriers at a personal level?
1;05:32 Goals for OTR Capital
1:12:12 Does OTR Capital accept credit checks?
1:14:44 Contact information and closing remarks
1:17:21 Parting shots
1:19:38 Outro