The Triumph Group is a leading business corporation thathas numerous wings like Triumph Bancorp, TBK Bank, Triumph Business Capital, Triumph Commercial Finance, Triumph Insurance, and TriumphPay. All of these sub-sections of the group specialize in various fields from banking to invoicing.
The Triumph Business Capital
The Triumph Business Capital is a major division of the Triumph Group, which functions in the logistics and transportation field. The firm was established in 2004 and is headed by Geoff Brenner in the CEO position. They are based in Texas, USA, and are one of the chief providers of invoice factoring in the above-mentioned industries. Invoice factoring is when a company sells off its outstanding invoices to a factoring company to facilitate the flow of cash. Then, the factoring company is left with the duty to collect the debt from the invoices. Triumph Business Capital has been in the invoicing industry for the last 20+ years and has alwaysbeen referred to as one of the most trustworthy businesses in the field. Its services include account management services, transportation factoring, fuel advance programs, freight broker factoring, credit analysis, etc. it is also a leading member of the International Factoring Association and abides by the rules and guidelines set by the association.
The types of factoring offered by the Triumph Business Capital
The group specifically offers two types of factoring for its customers. They are the non-recourse factoring and the recourse factoring.
Non-recourse factoring: In this type of factoring, the company will take up the complete responsibilities and risk of the customer’s debt. It is then up to the company to collect and settle the debt properly. Although this type of factoring is a bit more expensive, this offers the customer complete freedom from the debt and offers less to no risk to the customer.
Recourse factoring: This option is comparatively lower-priced. In this option, the customer does not completely sell off the debt to the factoring company. That is, even though the debt is sold to the factoring company, unlike the non-recourse factoring, if the debt is failed to be repaid, the customer has to pay off the debt for the company.
Why Triumph Business Capital?
There are numerous reasons why Triumph Business Capital has remained at the forefront of the invoice factoring industry. It extends its services to all the sections of the industry including the freight brokers, large fleets, owner-operators, and mid-sized fleets. They offer same-day funding to their customers once they are provided with the necessary documents and invoices. It also completely takes the burden off the customers’ shoulders regarding debt management. There are numerous programs like the Iinsurance programs, fuel card program, online web portal, etc., that enable the customer to have a hassle-free and smooth experience.
Fuel Program: The fuel program or fuel discount program offers significant discounts for filling fuel. Customers can avail of a fuel card as part of this program and can use it at about 2400 fuel-filling locations to get discounts up to 22$ per gallon of fuel.
My Triumph Portal: This client portal provides the customers with all the necessary information and details regarding payments. Customers can use the portal to submit invoices and other relevant documents to avail of any factoring service from the company. The portal also offers unlimited credit analysis 24×7. Customers will get updated via email and text notifications from the portal.