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MJN Services factoring: rates, fees and terms
Publishes a complete rate and fee schedule, with a variable rate that moves with how fast your shipper pays and a flat alternative.
What sets it apart
The most complete fee schedule we found: every line, including the ones others leave out, is on one page. The catch is the $200 minimum monthly fee after 90 days. At $5K a month in invoices the 3% flat rate comes to $150, so the minimum lifts the real cost to $200, or 4%.
Published terms
| Rate | Variable rate 1.5% (adjusts based on shipper payment timing); flat rate 3% (fixed for 60 days regardless of payment timing) |
|---|---|
| Advance | Up to 95% |
| Recourse | Not stated on the pages we read |
| Contract | The initial contract period is 90 days |
| Monthly minimum | $200/month, applies after 90 days; waived in months where calculated fees exceed this amount |
| Transfer fees | ACH transfer fee: none |
| Other fees | Application fee, credit reporting fee and invoice processing fee: none. First 30 days free. |
| Funding speed | Invoices submitted by 1:00 PM MST receive same-day ACH |
| Fuel | Not stated on the pages we read |
Monthly cost at the published rate
$10,000 a month: $300. $25,000 a month: $750. $50,000 a month: $1,500. Based on the published flat rate. The 3% flat rate, with the $200 monthly minimum that applies after 90 days. The 1.5% variable rate depends on how fast each shipper pays. Per-invoice fees counted at a $2,500 invoice.
Carriers who want every fee in writing before signing.
You factor under about $6,700 a month; the $200 minimum then costs more than 3%.
Ask before you sign
- The 1.5% is a variable rate that changes with shipper payment timing; it is not a flat 1.5%.
- Recourse type is not stated on the rate page.
Pages we read
Factors change rates and terms. If this is out of date, tell us.