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What is broker factoring concentration?
Broker factoring concentration is a way to protect your business from overexposure and reliance on singular brokers. We always recommend you work with a diverse range of brokers. Relying primarily on a single broker increases your exposure to risk.
A broker concentration limit is the total amount you’re permitted to factor from your unpaid invoices at a given time. Some brokers may not have a limit due to their business size and trust on platform, while some brokers may have limits due to a risk analysis. If there is a limit, it’s based on your unique business relationship with specific brokers and their business size, age, and history.
What happens if I reach my broker concentration limit?
If you reach your broker concentration limit, funds from your approved unpaid invoices with that broker will not be added to your factorable balance until we receive payment for one of your outstanding unpaid invoices with them.
Why might a broker have a concentration limit?
- Because of a broker’s business size, age, and history.
- You have a recourse agreement
- Your business is highly concentrated with a singular broker
Where can I see my broker concentration limits?
- Tap on your factorable balance.
- Scroll to the Broker Concentration section of the page.
- View the list of brokers and the amount you have outstanding with them.
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How soon will funds be deposited into my account?
Submit your rate confirmation and bill of lading and once they're approved (based on the broker’s status & eligibility) you can access your funds.
Submit your rate confirmation and bill of lading and once they're approved (based on the broker’s status & eligibility) you can access your funds.
Four-hour funding qualifications
Broker is approved for factoring.
Documents are submitted before 3pm EST / 12pm PST.
You’ve previously worked with this broker on the Outgo platform.
Within 2 business days
Approved brokers you haven’t worked with previously on the Outgo platform or if a rate verification is required.
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If the broker isn’t approved or the invoice isn’t eligible for factoring, funds will be deposited in your Checking account when the invoice is paid by the broker.
How do I reset my password?
Reset your password by
Reset your password by
- Tap Sign in at Outgo.co or go directly to app.outgo.co
- Tap Forgot password?
- Enter your email address
- Tap continue
- Follow the instructions sent to your email.
How do I submit load documents?
To submit load documents in the Outgo iOS, Android or our web application.
To submit load documents in the Outgo iOS, Android or our web application.
- Navigate to the Invoice tab
- Tap + New in the upper left hand corner
- Fill out the form and add all related documents
- Tap Submit
Our team will transcribe the load information, create, and send the invoice on your behalf.
If there are any issues, our team will reach out to you.
