How many delivered loads are still not invoiced right now?

The loan = one day of your revenue multiplied by the days between delivery and invoice. Every day of billing delay permanently parks one more day of revenue in money owed to you but not moving. Fixing it is a one-time, permanent cash release.

The interest = parked cash multiplied by your cost of capital. This is the methodology FreightWaves published in January 2026. Their example brokerage ($30M revenue, 10-day gap, 7%) carries about $820,000 in working capital at a cost of about $58,000 a year, roughly $3.70 per load. Enter those numbers above and this calculator reproduces their result.

Extra loads it could cover assumes the released cash covers carrier payments at roughly 90% of revenue per load, the typical carrier cost share at current margins.

Why the delay exists: the POD is the trigger document for invoicing (Laneproof), and paper PODs take anywhere from 48 hours to two weeks to come back. Weekly invoice batching and re-keying from TMS to accounting add more days (Truckstop, OTR Solutions).

Financing presets: the 7% credit line rate is the one FreightWaves used. Factoring fees run 1 to 5% of invoice value (LegalClarity); 1.5 to 2.5% per 30 days annualizes to roughly 18 to 30%, so we use 20%. Own cash uses a 4% opportunity cost.

What we don't count: late invoices getting disputed and paid slower, accessorials never invoiced because documents went missing, and shipper submission cutoffs that turn a late invoice into an unpaid one. All of these only make your real number bigger.

Directional estimates from your inputs, not an audit.