September 24, 2021 12:30 PM, EDT

Apex Capital Launches 24/7 Freight Factoring Service

Apex 24/7 Apex Capital/Newswire

[Stay on top of transportation news: Get TTNews in your inbox.]

Apex Capital launched a new service that allows its clients to factor freight invoices during off hours, the company announced Sept. 22.

The 24/7 Factoring service will be available to qualifying fleets nights, weekends and bank holidays.

Freight factoring is when a carrier sells its invoice for a shipment to a company in order to get payment within days instead of months.

“24/7 Factoring came about as a direct result of listening to our clients, who challenged us to provide funds when they require them,” Apex President Chris Bozek said in a statement. “We remain committed to continue delivering practical innovation that helps our clients succeed in an increasingly competitive marketplace.”

Apex is a full-service freight factoring business that specializes in small to medium-sized carriers. Its own proprietary digital payment system Blynk allows for immediate cash flow to factoring clients.

“The factoring industry has traditionally been tied to normal banking hours,” said Adam Bosley, factoring product manager at Apex. “With 24/7 Factoring, clients now have the option to get access to funding for completed loads with a few clicks of a button. No more days of clients rushing to get their paperwork organized and submitted within banking hours or having bills ready to go then waiting all weekend to get funded on Monday.” — Transport Topics

Want more news? Listen to today's daily briefing below or go here for more info: