Transportation Alliance Bank Inc., an FDIC-insured bank targeted to professional drivers and trucking companies, is offering independent owner-operators the ability to sell their receivables and get cash on the road, usually within 30 minutes. TAB’s Accounts Receivable Financing product, also known as factoring, now is available through a network of more than 40 Flying J Financial Service Centers located across the country.
Factoring allows independent owner-operators and small trucking companies to be paid immediately for delivered freight. Once an account has been set up and the shipment has been verified, TAB may advance up to 90 percent of the invoice. The account owner has immediate access to those funds through a TAB-issued MasterCard. Customers also can submit their original trip documents to TAB through overnight delivery services. Once the documents have been approved, the account will be funded instantly.
By the end of 2006, Flying J will be providing this service at more than 60 Financial Services Centers across the country. For a complete list of Flying J Financial Service Centers, go to www.tabbank.com. For more information about Transportation Alliance Bank’s Accounts Receivable Financing program, call (888) 440-4541.