What is invoice advance and how is it different from factoring? +
An invoice advance is when Prime One advances you funds against an invoice you've already issued — giving you immediate cash without waiting for your customer to pay. The key difference from factoring is that with an advance, you maintain the customer relationship and handle collections yourself, repaying once your customer pays. Invoice factoring involves selling the invoice outright and Prime One takes over collections. Both options provide fast working capital — the right choice depends on your business preferences.
What is the fuel card and how do I get it? +
All approved Prime One Factoring clients automatically receive access to our discounted fuel card program. The card gives you up to $0.80 cents off per gallon at thousands of fuel locations and truck stops nationwide — no separate application required. Simply start factoring with Prime One and your fuel card is included as part of your client benefits. It's especially valuable for trucking companies, owner-operators, and freight brokers looking to cut fuel costs on every load.
How does construction invoice factoring work? +
For construction companies, Prime One funds your invoice once it has been approved by the general contractor or property owner. After approval, we advance you up to 90% of the invoice value right away — so you can pay your crew, suppliers, and subcontractors without waiting 60–90 days for the GC or owner to cut a check. When they pay, you receive the remaining balance minus a small factoring fee.
Do you factor freight broker invoices? +
Yes! We specialize in freight broker invoice factoring. As a broker, you invoice shippers but often wait 30–60 days for payment while your carriers need to be paid quickly. Prime One buys your shipper invoices so you get cash immediately — allowing you to pay carriers on time and take on more loads without cash flow gaps.
What is invoice factoring? +
Invoice factoring is when you sell your outstanding invoices to a factoring company like Prime One in exchange for immediate cash. Instead of waiting 30–90 days for customers to pay, you receive an advance — typically up to 90% of the invoice value — right away. It's not a loan, so you take on no debt.
How quickly will I get funded? +
We provide preliminary approvals within 24–48 hours of receiving your completed application. Once you're an approved client, ongoing invoice submissions are typically funded within 24 hours.
Does my credit score matter? +
No. Invoice factoring is based on your customers' creditworthiness, not yours. This makes it an excellent option for startups, businesses with fair credit, or companies turned down by traditional banks.
What industries do you work with? +
We factor invoices for businesses in virtually every industry — trucking, staffing, construction, manufacturing, healthcare, technology, oil & gas, logistics, and more. If you invoice business or government customers, we want to hear from you.
How much does factoring cost? +
Factoring fees typically range from 2–5% of the invoice value depending on size, industry, and customer payment history. We're transparent about our rates with no hidden fees. Contact us for a personalized quote.
Are there long-term contracts? +
No long-term commitments required. You can factor as many or as few invoices as your business needs. We earn your business through excellent service, not by locking you in.
What's the minimum invoice amount? +
We consider invoices of all sizes. Whether your monthly volume is $10,000 or $1,000,000+, we have a solution that fits. Reach out and we'll find the right structure for your business.
Will my customers know I'm factoring? +
Yes — invoice factoring involves notifying your customer to remit payment to Prime One. We always conduct ourselves professionally and in a manner that preserves your customer relationships.
