TBS Factoring Service
- Employees in region:
- Financial Services & Insurance
- HQ location:
- Oklahoma City, OK
’14, ’15, ’16
Factoring is a transaction in which a business sells its account receivable, or invoices, to a third party commercial financial company, also known as a "factor." This is done so that the business can receive cash more quickly than it would by waiting 30 to 60 days for a customer payment. TBS's niche is transportation. Before a carrier transports/hauls a load, the factoring company makes sure the broker/shipper is creditworthy to pay the trucker's invoice. TBS purchases the invoice and advances the trucker up to 95% of the value of the invoice, less the discount.
We keep records of all payments and collect payments from the broker/shipper, so the trucker doesn't have to.
“Everything. They are taking everyone's ideas and making processes better and more efficient.”
“What impresses me the most about TBS's efficiency is that everyone works as a team, meaning everyone has their hand in the product from start to finish.”
“The owners care about their employees. ”
“I am most impressed by the dedication of our company and everyone that works here. ”
“The way they go about business is very professional.”