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Rates of 3% for Recourse and 4% for NonRecourse
OTR Solutions Intro:
OTR solutions is a company that offers help to truckers and freight operators with working capital or liquidity creation. Also OTR solutions provide services such as freight brokerage, cash flow management, staffing and payroll, and other related services.
The service set allows trucking companies and freight haulers to access their services to gain liquidity or positive cash flow without too much cost.
OTR Solutions Commission:
OTR solutions charge about 4% commission for small and medium (i.e. 1-3 trucks) in nonrecourse factoring, they charge about 3% in recourse factoring. OTR solutions advance rates are generally 96% for non-recourse and 92% for recourse.
OTR Factoring Program:
OTR does not charge back a client's account because their customer is late for payment. The factoring is program straightforward and transparent, you can see what you want, also there are no hidden charges.
OTR Solutions reviews
Because of their awesome customer service and addon factoring services they command high factoring rates. Internet is all rave about OTR factoring, there are many a good reviews about their factoring service. And most of the relationships OTR has is long-term.
OTR Capital is dedicated to servicing the trucking industry.
Let us get an in-depth knowledge of the company in this OTR Capital Review article.
OTR funding and mission:
At OTR Capital, they understand that running a business can be tough- especially when it comes to managing your finances. That's why they offer a variety of invoice factoring services to help businesses of all sizes get the funding they need to keep their operations running smoothly.
OTR solutions services:
Their team of experienced professionals are here to help with everything from credit approval and fuel advances, to back office assistance and freight factoring. So whether you're a small business just getting started, or a large corporation looking for a more efficient way to manage your accounts receivable, OTR Capital has the perfect solution for you.
They are experts at providing factoring services to small and large businesses alike. Their non-recourse factoring program stands out as a leading industry service for its flat factoring rates and transparent pricing model that emphasize no long-term commitments or contracts.
OTR solutions' relationship based factoring:
With many years of experience in the industry, they offer customized programs that fit your company’s specific needs. Its goal is to build strong, lasting relationships with all of its customers while standing out as one of the most trustworthy and respected financial institutions around.
So contact them today if you have any questions regarding how they can help make your business more successful!
OTR reviews and ratings:
OTR capital has a user rating of 4.9 out of 5 stars on Google Reviews and their clients have some uplifting things to say. A representative from one customer, Lydel Logistics Corp, thought that OTR Capital’s professional and personal customer service was an incredibly positive experience.
OTR solutions mobile app:
Lately, OTR has launched its own robust, quick, and transparent app. It is available in the App store and Google play. It allows your trucking documents to be directly submitted rather than scanning, emailing, or faxing them.
You can factor loads using the app. You are also able to get fuel advances. You can also check broker approval. Obviously, you can submit your documents and invoices. You also can contact OTR directly.
They claimed they felt as though they were working with “one of the family” at OTR Capital and praised them for their ability to respond so quickly to all inquiries.
Pros and Cons of OTR solutions:
Pros
- Offers both recourse and nonrecourse factoring
- Credit checks and credit approvals with an in-house team
- 24 hours payment time maximum after submitting the invoice
Cons
- To get fuel advances you need to factor all invoices with OTR or there is a fee of $200
- No factoring of invoices over 90 days old
- Is pricey for small and medium truckers
Another client who goes by “R. Muller” had equally positive points to make about their time working with OTR Capital stating that they would “not work with anyone else” other than OTR Capital because it made for such a convenient experience for him and his company!
OTR factoring rate:
Our reviewers found that the advance rate for factoring recourse is 92% and for nonrecourse is 96%. These rates are a reflection of their superior customer service and add-on factoring services. Good reviews of OTR point to the fact that they have long relationships with customers.
OTR solutions tools:
OTR is a factoring company for transportation, they are a reliable cash flow solution provider for truckers. They also provide documentation and back-office support for trucking companies. They provide powerful tools that help to maximize the growth of small and medium trucking companies.
OTR pays you as soon as the load is delivered, process goes like this OTR purchases your invoices reducing the factoring commission, and pays the rest to you. It handles the responsibility of paying carriers like you and even collecting the money from your customers. You get the invoice amount within the same day if its a wire transfer and within 24hrs if it's an ACH.
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