Is iThrive Funding the right factoring company for you?
iThrive Funding was founded by its mother organization, Progressive Reporting Agency, as a means to further assist their clients in the transportation industry. While they specialize in accounts receivable factoring for small owner operators of trucking companies and small fleets up to ten trucks, iThrive Funding also has commercial factoring programs as well. In addition to the transportation industry, the other industries that they service include: manufacturers, staffing companies, distributors and wholesalers, retailers, service-base companies, and government contractors.
iThrive Funding will handle all billing and collection. They also have an online management system that provides up-to-date reports on any given account. As an added incentive, iThrive Funding is able to offer their clients an EFS Fuel Card which can be used in over 5,000 locations in the United States and Canada. By taking advantage of the discounts and savings offered through the EFS program, truckers can save an estimated $1,500 per truck annually on fuel.
As members of the International Factoring Association, iThrive Funding prides itself on integrity and a strong code of ethics. They practice their core principles of courage, hard work, service, and vision in everything that they do. If they are unable to provide the financial solutions that a business requires, they will look to find an associate that has the necessary lending options available.
About iThrive Funding’s Factoring Program
Not often found with other factoring companies, iThrive Funding offers recourse and non-recourse plans with a 100% advance rate. A competitive flat rate for processing is their only fee. Usually between 1% to 5%, their fees are based on the monthly sales volume of factored invoices, the payment cycle of the customer, the creditworthiness and concentration of a business’ customer base, and the industry. The approval process is quick and easy (within 24 hours) to get started on a short 90-day term contract. Once qualified and invoices are submitted, same-day funding is available via ACH direct deposit or wire transfer to an account, or as an advance to the fuel card.