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Thunder Funding factoring: rates, fees and terms
Non-recourse by default, 90-day agreements and no volume requirement, with some of the latest same-day cutoffs.
What sets it apart
Its published terms and conditions list the penalty fees that most factors leave to the contract: a misdirected payment fee and a missing notation fee of 15% of the invoice or $1,000, whichever is greater, and a late charge of 0.10% a day. Non-recourse here does not cover disputed loads.
Published terms
| Rate | Structured by company size, brokers and freight type; not published |
|---|---|
| Advance | Not stated on the pages we read |
| Recourse | Non-recourse by default (bankruptcy or insolvency); does not cover short-payments or disputes |
| Contract | 90-day contract, then not bound to a long-term contract |
| Monthly minimum | No minimum number of invoices |
| Transfer fees | Not stated on the pages we read |
| Other fees | Terms list: invoice processing fee; late charge 0.10% of face value per day; misdirected payment fee 15% or $1,000, whichever is greater; missing notation fee 15% or $1,000; unnoted advance fee 10% or $100 |
| Funding speed | Same-day if sent by 12pm PST, next-day by 9pm PST |
| Fuel | Fuel advances 7 days a week |
Ask before you sign
- If a broker pays you directly instead of Thunder, the misdirected payment fee is 15% of the invoice or $1,000.
Pages we read
- https://thunderfunding.com/thunder-faq/
- https://thunderfunding.com/freight-factoring-rates-and-fees/
- https://thunderfunding.com/terms-and-conditions/
Factors change rates and terms. If this is out of date, tell us.