Articles | News
A bit about freight factoring
By Staff Writer - Evergreen Content Publishing
Freight factoring is one of the quickest methods for trucking and transportation companies to raise working capital. Used by almost every industry, factoring allow companies to raise the needed capital in just a few short days for expansion/growth, restructuring or survival.
Why wait 30-60-90 days for your customers to pay your invoices/freight bills? Trucking factors can advance funds on freight bills very quickly, normally in a day or two after you contact them, and in some cases that same day. The factor then gets paid back when your customers pay in 30 to 90 days!
Factoring is converting your freight bills/accounts receivables/invoices for cash, thus allowing your company to receive the needed capital now, not weeks or months from now! It does not require additional collateral and does not create debt! Here's a bit of interesting information about factoring, did you know that the origin of factoring has been traced back to the days of the Roman Empire or even earlier, but the industry as we know it today in the United States goes back only about 200 years to the early nineteenth century.