© 2024 HMD Financial
freight invoice factoring services
Fast and convenient
Receive up to 99% of your money upfront to get your business rolling at 100% speed. No extra fees.
A PROUD MEMBER OF THE HMD GROUP OF COMPANIES
Fast and convenient
Receive up to 99% of your money upfront to get your business rolling at 100% speed. No extra fees.
A PROUD MEMBER OF THE HMD GROUP OF COMPANIES
freight invoice factoring services
Get your business going. Full-bore.
Advocating for the needs of small trucking businesses, HMD Financial offers professional recourse freight invoice factoring services to owner-operators and freight carriers.
Optimize your cash flow
Accelerate delivery pipeline
Secure more contracts
without compromising
on current ones
without compromising
on current ones
Get up to 99% advances
on your invoice totals
with same-day payouts
on your invoice totals
with same-day payouts
How freight invoice factoring works
In the logistics and transportation industry, freight invoice factoring (also known as trucking factoring or freight bill factoring) is a handy financial tool that simply speeds up payment.
It enables you, as an owner-operator or a freight carrier, to sell your invoices or BOLs to a factoring service provider and receive the full amount due less a fixed commission within 24 hours or less.
HMD Financial is a modern, online-based, recourse factoring company created by truckers for truckers.
Recourse factoring means that our clients share the risk of potential nonpayment and must buy back any invoices that we are unable to collect payment on.
In exchange for choosing to work with us, you enjoy same-day funding and super-low service fees.
Use this expedited payment to effectively close cash flow gaps and channel funds into purchasing new equipment or accelerating the delivery of urgent shipments — all without having to wait for weeks or even months to collect from customers or brokers!
WHY CHOOSE HMD FINANCIAL
Our founders started HMD Trucking in 1998. They have over two decades of hands-on experience working in the transportation industry. So we understand the cash flow needs of motivated drivers who strive to grow
a trucking business in a highly competitive market.
a trucking business in a highly competitive market.
Our ultimate goal is to make freight invoice factoring easy and accessible for every proud owner of a trucking business. To that end, we offer simple and straightforward financing terms with no hidden fees or unexpected penalties to make sure your hard-earned money stays in your pocket.
We understand that time is of the essence for all our clients and offer same-day application review and quick payouts for qualifying applicants.
Our clients are always busy delivering various types of loads throughout the nation. We fully appreciate that and make it easy and hassle-free for truck owner-operators to submit their financing requests anytime, anywhere, via our online client portal or mobile app.
With its founders bringing over 20 years of experience, our group of companies has been extremely successful in working with local and nationwide partners providing various services to drivers and trucking owner-operators.
WHY CHOOSE HMD FINANCIAL
Our founders started HMD Trucking in 1998. They have over two decades of hands-on experience working in the transportation industry. So we understand the cash flow needs of motivated drivers who strive to grow a trucking business in a highly competitive market
Our ultimate goal is to make freight invoice factoring easy and accessible for every proud owner of a trucking business. To that end, we offer simple and straightforward financing terms with no hidden fees or unexpected penalties to make sure your hard-earned money stays in your pocket.
We understand that time is of the essence for all our clients and offer same-day application review and quick payouts for qualifying applicants.
Our clients are always busy delivering various types of loads throughout the nation. We fully appreciate that and make it easy and hassle-free for truck owner-operators to submit their financing requests anytime, anywhere, via our online client portal or mobile app.
With its founders bringing over 20 years of experience, our group of companies has been extremely successful in working with local and nationwide partners providing various services to drivers and trucking owner-operators.
Do you know carriers who struggle with payment collection? Become our partner and benefit from every new client you bring on! Learn how dispatch agents and individuals can use our partnership program to their advantage!
Partner program
More than two decades of service excellence and steady growth
Founded in March 1998 by Henry Malukas and his wife Daiva, the HMD Group of Companies is one of the leading trucking groups in the Midwest.
Since inception, the HMD Group of Companies has grown its fleet and diversified its service portfolio. With an emphasis on achieving and maintaining high safety ratings and rewarding driver performance and loyalty, its competencies have expanded from over-the-road freight hauling to include flatbed hauling, hazmat transportation, freight brokerage, and, most recently, recourse freight invoice factoring.
modern trucks
500
years of history
26
Get funded today. Let’s talk!
By clicking "APPLY NOW," you agree to HMD Financial's Data Use Policy & Consent to Contact and our Terms and Conditions. By checking the box above, you also agree that we may call you or send you a text/SMS message at the phone number you entered above with reminders, offers, and other information about our services, including by using an automatic telephone dialing system or an artificial or prerecorded voice. You also agree that we may email you at the address you entered above for these reasons. You are not required to consent to these communications as a condition of using our services. Reply STOP to opt out of text messaging. Standard rates apply.
FAQ
- 1What percentage is charged?Our freight factoring fees depend on your monthly factoring volume. Our range is between 3-1% for carriers and 5-1% for brokers.
- 2What are your requirements?As a freight factoring company dedicated to ease and efficiency, we don’t have any stringent prerequisites for you to begin factoring with us.
- 3Does your company factor invoices from Amazon Relay?Yes, as a versatile factoring company for trucking, we do factor invoices from Amazon Relay. Although getting recognized as our clients' factoring company can take a bit longer compared to others.
- 4How does this process work?Starting with us, a factoring company for truckers, is straightforward. After signing the agreement, we only require a list of your customers. Upon their approval, we can commence factoring your invoices within the same day. Just upload rate confirmation and proof of delivery (POD) to our app.
- 5Do you have a load board that your factoring company associates with?Currently, we do not associate with any load boards as part of our freight factoring services.
- 6Is there a minimum?No, as a flexible factoring for trucking company, we don’t enforce a minimum monthly factoring amount.
- 7Are there any fees for opting in and out?There are no hidden fees with us, no charges for starting or discontinuing our services.
- 8What is your competitive advantage?As part of the HMD Group of companies, we benefit from over 25 years of hands-on experience in the transportation industry. This in-depth knowledge allows us to thoroughly understand the day-to-day operations of a trucking company, giving us a unique edge over other factoring companies. Our emphasis is on exceptional customer service; we provide a dedicated team for each of our clients to ensure personalized, consistent support. We are invested in fostering durable relationships and are dedicated to helping our clients succeed and achieve their desired outcomes.
- 9Do you pay the same or the next day?Payments are processed the next day. However, for those needing the money the same day, a $25 fee that the bank charges will apply.
- 10Recourse/Non-recourse?We operate as a recourse factoring company. But, with our system, we go the extra mile to ensure it doesn't escalate to that point. We vet every customer in advance to safeguard all parties involved, approving customers with a C rating or above.
- 11Do you offer dispatch services?While we don’t directly offer dispatch services, we have cultivated partnerships with reputable dispatching companies.
- 12I'm currently working with another company. Can I still sign?Our commitment to integrity means we cannot begin factoring until your contract concludes with your existing company.
- 13Do you provide services for a freight brokerage?Absolutely! We extend our freight factoring services to freight brokerages as well.
- 14Do you offer fuel cards?We are continuously evolving to serve you better. While we don't currently offer fuel cards, we are actively working to introduce them.
- 15Do you work with brand-new companies?Indeed, we do! We are committed to supporting businesses at all stages, including brand-new companies.
