Uber Freight is proud to offer hassle-free factoring to carriers on the Uber Freight platform on your Uber Freight and non-Uber Freight loads. Say goodbye to long term contracts, hidden fees, and endless waiting. Get ready to experience fast, reliable cash flow like never before
Discover Some of the Benefits of Uber Freight Factoring:
1.5% Rate for 60 Days*
Try our introductory 1.5% factoring rate for your first 60 days. No long-term commitment required.
No Hidden Fees
What you see is what you get. We don’t bury fees in the fine print or surprise you later.
Fast Access to Funds**
Get access to instant payments. Our platform runs 24/7/365 so you’re not waiting for your money.
Non-Recourse Protection
If an approved broker fails or goes out of business, your funds are protected.
Ready to experience hassle-free factoring?
Uber Freight Factoring powered by BasicBlock goes above and beyond traditional factoring companies
| Uber Freight Factoring | Others | |
| RATE | 1.5%* Introductory Rate | 3-4% |
| CONTRACT TERMS | No term | 1-2 years with auto renewals |
| FEES | No hidden fees | ACH, invoice, and start up fees |
| SUPPORT | Immediate-direct lines to your account rep. | Hours on hold-days for resolution |
| SPEED | Less than 24 hours** & 5-10 min broker checks | Slow funding and broker checks |
| TECH | Easy to use mobile app and website | Email, phone, or faxing documents |
| WHAT HAPPENS IF A BROKER DOESN’T PAY? | Non-recourse | Chargebacks between 30-45 days |
| MINIMUMS | None- factor only the loads you want! | Changing rates based on minimus- have to factor all loads. |
| PAYMENT SUBMISSION DEADLINE | 2PM CST | 9-10AM- for same day pay |
| RESERVES | None | 3-5% |
For more information on 1.5% introductory rate* and payment speeds**, please see the FAQ section below.
Ready To Get Started?
We’ll give you a call within 15 minutes after filling out this form.
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Business hours are Mon-Fri (8am-5pm CST), after hours and Federally observed holidays could differ.
Frequently Asked Questions
What is factoring?
Financial service used to help free up cash flow for a carrier’s business. Instead of carrier’s waiting 30-45 days for payment we buy their unpaid open invoices (loads) and take a small % to pay them immediately we then invoice the broker and collect on their normal payment terms. In addition to quicker payment we handle their back office.
Recourse vs non-recourse
Non-recourse – if an approved broker goes out of business (declares bankruptcy) we do not charge back those funds to you. Recourse = opposite, usually a set time (i.e. any load not paid back within 60 days for whatever reason gets charged back to you)
Will you work with any brokers?
Being non-recourse, we cannot work with all brokers but have over 10K reputable brokers in our database. We monitor this daily and will happily check credit on a broker within a few minutes once requested. If a brokerage has been in business for over 1 year and has decent credit reported we likely already work with them.
How long does the 1.5% introductory rate last for?
The introductory rate is valid for 60 days from the funding of the first invoice. 60 days following the first funding the rate increases to 2.5% after the introductory period. In some instances, a carrier may be eligible for a lower factoring rate than 2.5%
How quickly will the money be in my account?
BasicBlock has established cutoff times (2pm CST) for receipt of payment instructions and you understand that BasicBlock cannot and does not guarantee any specific time in which ACH transactions initiated through your BasicBlock Account will be completed. Same Day Payment is available. If submitted and approved prior to 2pm CST, funds will be available by 4pm CST. BasicBlock utilizes the RTP Network to issue Same Day Payments. Real-Time Payments (RTP) are account-to-account transactions that clear and settle near instantaneously via the RTP® Network. The RTP Network is owned and operated by The Clearing House. Anytime Payment / Instant Funding / 24/7 Funding is available, provided the load is pre-approved. BasicBlock utilizes the RTP Network to issue Anytime, Instant, or 24/7 Payments. Real-Time Payments (RTP) are account-to-account transactions that clear and settle near instantaneously via the RTP® Network.
Can I have more than one factoring company?
No, legally you cannot. We are happy to help make sure any transition to us is as seamless as possible.
How does the buyout process work?
BasicBlock reviews factoring agreement to determine your options, once your termination date approaches we will request open receivables aging to review and if all is good we will move forward with a buyout. Both a buyout agreement & new factoring agreement will be signed, typically takes 1-2 days to complete.
Do I have to factor all loads?
No, it’s the carriers business so their decision which brokers they do and don’t factor. EX: Amazon pays weekly, may not need factored.
How do I get started?
Fill out the application and BasicBlock will reach out to discuss details and take the necessary steps to you set up!
Fees
Next day ACH = Free
Same Day Payment (via Push to Debit or RTP) = $5
Fuel Advance (50% of load value, max $1500) = $20
Anytime Payment (24/7/365 payment) *load must be pre approved = $30
Wire = $30
Other Questions? Contact Us
Have other questions or need support? Reach out to us at support@basicblock.io or 402.242.3123. We’re here to help.
Disclaimers:
*Exclusive 1.5% introductory rate for carriers on the Uber Freight platform that are not currently signed up for BasicBlock Factoring, valid for 60 days from the funding of the first invoice. Terms apply. After the introductory period, 2.5% standard rate applies, subject to volume and underwriting criteria.
**If BasicBlock receives your rate confirmation and “pre approves” the load prior to delivery, you may be eligible to receive payment 24/7
Uber Freight acts solely as a referral partner to BasicBlock Inc. and is not involved in the provision of any factoring services offered. Uber Freight does not assume responsibility for any business transactions, outcomes, or any other aspect of the business relationship between BasicBlock Inc. and its clients. All inquiries and matters pertaining to factoring services provided by BasicBlock Inc. should be directed to support@basicblock.io. *Exclusive 1.5% introductory rate for carriers on the Uber Freight platform, valid for 60 days from the funding of the first invoice. Terms apply. The rate increases to 2.5% after the introductory period. In some instances, a carrier may be eligible for a lower factoring rate than 2.5%. Next Day ACH payments are free. BasicBlock has established cutoff times (2pm CST) for receipt of payment instructions and you understand that BasicBlock cannot and does not guarantee any specific time in which ACH transactions initiated through your BasicBlock Account will be completed. Same Day Payment is available for $5. If submitted and approved prior to 2pm CST, funds will be available by 4pm CST. BasicBlock utilizes the RTP Network to issue Same Day Payments. Real-Time Payments (RTP) are account-to-account transactions that clear and settle near instantaneously via the RTP® Network. The RTP Network is owned and operated by The Clearing House. Anytime Payment / Instant Funding / 24/7 Funding is available for $30, provided the load is pre-approved. BasicBlock utilizes the RTP Network to issue Anytime, Instant, or 24/7 Payments. Real-Time Payments (RTP) are account-to-account transactions that clear and settle near instantaneously via the RTP® Network. The RTP Network is owned and operated by The Clearing House. Non-recourse factoring means that we cover any losses due to broker insolvency. No Contracts means no defined contract term. As long as there is no open balance on your account we will provide LOR & UCC3. If there is an open balance, you can purchase any open receivables to close your account or have another factoring company do so.
The use of BasicBlock Inc.’s services is subject to our terms and conditions. Please contact our support team at support@basicblock.io if you have any questions.