Freight Factoring Fee Calculator
Enter your invoice amount and choose a rate type to estimate your factoring fee and same-day advance. Advance rate is fixed at 95%. Rates are published in writing.
Enter the full invoice face value in dollars.
How It Works
After the first 90 days, a minimum monthly fee of $200 applies in months where your calculated fees fall below that amount.
Calculator FAQ
How is the factoring fee calculated?
The factoring fee is a percentage of your invoice amount. With the variable rate, you pay 1.5% of the invoice (starting rate, may adjust if the shipper pays slowly). With the flat rate, you pay 3% for 60 days, regardless of how quickly the shipper pays. Rates are published in writing.
What does the advance rate mean?
The advance rate is the percentage of the invoice MJN pays you the same day you submit. MJN advances up to 95% of the approved invoice value. The remaining balance is held in reserve and released after the shipper pays, minus the factoring fee.
Should I choose variable or flat rate?
If your shippers typically pay within 30 days, the variable rate starting at 1.5% is usually less expensive. If you prefer predictable costs or your shippers take longer to pay, the flat rate of 3% for 60 days removes the uncertainty. Contact MJN to discuss which option fits your freight lanes.
Is there a minimum monthly fee?
The first 90 days have no minimum monthly fee. After that, a minimum of $200 per month applies in months where your calculated fees fall below that amount. For carriers who factor regularly, this threshold is rarely reached.
Ready to Factor Your Freight Invoices?
Advance rates up to 95%, rates starting at 1.5%, same-day ACH on submissions received by 1:00 PM MST. Rates are published in writing. Apply today.