Is Your Trucking Company Coming Up Short On Cash?
Freight Factoring is an Essential Financial Tool to Maintain Positive Cash Flow
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Is your carrier running low on cash?
In the ideal world, carriers who need funding would receive a loan from a bank that grows in line with their receivables. However, loans operate differently; they limit advances to the credit amount, which means they cannot support the trucking company's ongoing billing and the generation of new invoices.
Freight factoring creates constant cash flow—an ongoing supply of cash based on outstanding invoices and new freight bills. Whether you invoice your customers on credit terms ranging from 30 to 90 days is irrelevant.
You will have the money in your account shortly after invoicing your customer. And you can grow the business by offering more customers credit terms. And with factoring you are not creating debt.
For more information and to discuss the advantages of freight factoring for your trucking company, please use this short form, the office for your local area will get back to you shortly.