For new factoring companies
A new factoring company has no loss history, no habits and no backlog of trusted clients. That's the best time to decide how you'll verify carriers, because controls are easier to start with than to retrofit after a bad payment.
CarrierKYC helps in two ways: free tools and guides for the basics, and Verified Payee, which checks that each applicant controls the carrier and owns the bank account, and re-verifies every payee change before the next ACH.
01
“We don't have an underwriting process yet. It's a spreadsheet.”
Start from the carrier vetting checklist and how to start a freight factoring company. Verified Payee then gives every applicant the same identity and bank-ownership check, with a case file for each.
02
“We need clients, and I worry that makes us an easy mark.”
Verified Payee checks the person and the bank account before you fund, so a new client who can't pass doesn't reach your ACH. The free carrier risk check shows authority age and shared-contact links in seconds.
03
“I've never sent an NOA or run a UCC search.”
Use the NOA generator and the UCC search directory, and read the guides to notices of assignment and UCC searches before funding.
04
“One misdirected payment could wipe out our first year.”
Put a written bank-change rule in place before your first client, using the remit-change checklist. Verified Payee enforces it by holding payments to a new account until the verified officer re-verifies.
Write a vetting checklist
Decide what every applicant must pass, and keep the evidence. The carrier vetting checklist is a starting point.
Search UCC filings on every client
Find prior factors and liens before you fund. See UCC searches before you fund a carrier.
Send an NOA to every debtor
Make sure brokers know where to pay. The NOA generator drafts the notice.
Lock down bank changes
No change takes effect without a call-back to a number you already had, plus an ownership check. Follow the remit-to change SOP.
Know your pricing
Model your rates and what clients actually pay with the factoring cost calculator and freight factoring rates.
Verified Payee covers steps a new team often handles by email and phone: confirming the applicant is an officer of the carrier, confirming the bank account belongs to the carrier, and re-verifying changes. It works next to whatever back-office system you choose; our factoring software buyer's guide covers those. Founding pricing is a free 60-day pilot, then $399 a month with 20 verified onboardings included, $25 for each extra onboarding, and payee-change re-verifications included.
Generator
NOA & release letter generator →
Fill in the parties and get a clean notice of assignment or letter of release, ready to print or send. Free, no signup.
Directory
50-state UCC search directory →
Where and how to run a UCC lien search in every state and DC: official search links, costs, and certified-search options.
Live FMCSA data
Carrier risk check →
Enter a USDOT or MC number. See authority age, revocations, insurance, out-of-service orders, and other carriers sharing the same phone, email, or address.
Checklist
Bank-change verification checklist →
The step-by-step SOP for verifying a carrier's remit-to or bank-account change before any money moves. Score your process and print it.
Calculator
Factoring cost & APR calculator →
Advance, reserve, fees, and days-to-pay in; net to the carrier, cost per load, and the effective APR out. Embeddable on your site.
No. Pilots are open to small factors, including new ones. A new factor may get more out of it, because it sets the habit before the volume arrives.
No. Verified Payee doesn't replace a system of record, and it works next to a spreadsheet or factoring software. Most factors add back-office software as volume grows; see the buyer's guide.
They're a clean starting draft built around UCC §9-406, not legal advice. Have your counsel review your NOA, release letter and factoring agreement for your state.
For factoring companies
CarrierKYC verifies that the person onboarding controls the carrier and that the bank account belongs to it, then re-verifies every remit-to change before the next ACH. Free 60-day pilot for small factors.
Monthly · free
The Freight Identity Risk Report
New authorities, revocations, insurance cancellations, and shared-contact clusters from FMCSA data, every month. One email. Unsubscribe in one click.