Established in 2011, OTR Capital, LLC is a factoring company specializing in the transportation industry.
What is Factoring?
Factoring is a financial tool that allows you to have your invoices paid in 24 hours or less. Rather than send your invoices to your brokers and shippers who may take 30-90 days to pay, OTR buys your invoices from you for a nominal fee (typically just a few cents per dollar). Then, they forward those invoices to your customer and they do the waiting, so you don’t have to! The strong cash flow allows you to meet your financial demands such as weekly payroll, insurance, fuel, tags, permits and driver advances. Best of all, it allows you to accept higher-paying loads from brokers and shippers whom you might not normally do business with because their payment terms are too high. Factoring is also sometimes called “accounts receivable financing.”
OTR is dedicated to offering timely, working capital solutions to transportation companies and they pride themselves on providing the best customer service in the industry.
OTR Capital believes in simple and straightforward transactions, without hidden costs and unfair termination fees and rules. They understand the importance of quick, easy, and reliable payments in the transportation industry and strive to provide their clients with the best factoring experience in the business. This focus allows them to build strong, long-lasting relationships with their partners, which is built on trust.
Being a part of the Adopt A Highway® Sponsorship program is just one way that OTR Capital is proudly doing its part to help out its community in the Atlanta area.
OTR is an exciting and dynamic company that values hard work and the desire to constantly improve all aspects of its business.
- Offering same-day funding on approved invoices/PODS
- Both recourse and non-recourse options
- No requirement for a long-term contract
- 24/7 online credit checking on new and existing customers
- Personalized, responsive service with a primary account manager
- Invoicing services, reducing your paperwork requirements
- Collection management services
- Flexible factoring – they do NOT require all of your accounts to be factored with us
- You CHOOSE which accounts to place with us
- Funding completed by direct deposit or wire transfer (same day or next morning payment options)
Factoring involves the selling of invoices to a third-party company at a small discount in order to improve cash flow. When a business uses invoice factoring, they benefit through an immediate boost to cash flow, while at the same time eliminating the need to process invoices. You will no longer have to wait for 30, 40, 50, or even 60 days to get paid. Instead, you will receive a payment within 24 hours from when the invoice is submitted. This instant cash allows companies to maintain positive cash flow even if a traditional bank loan is not an option.
Benefits of factoring:
For years, OTR Capital has been working with small, medium, and large companies, in a variety of industries, to solve cash flow problems by providing quick, easy, and affordable funding. Their clients have seen the benefit of this readily available capital through steady and continued growth…having more cash on hand enables you to take advantage of more opportunities, leading to sustained growth potential!
Improved cash flow is the number one benefit of factoring, enabling you to meet your financial obligations on time and to grow your business. But this is not the only benefit. With a factoring company like OTR, you add a business partner who provides you better record keeping and improved credit information on brokers or shippers. OTR does the collection work for you, leaving you more time to focus on your core trucking business and put your money to use fast!
They can help be the bridge to your success!
To learn more about OTR Capital, visit them on their web site.