What we do
Trucking remains a cornerstone of the American economy, with far more goods and materials moving by this means than any other. While it might be thought that this level of demand would ensure smooth sailing for every trucking focused transportation company, this is by no means the case.
In fact, a great many trucking businesses struggle regularly with problems related to cash flow. Maintaining a fleet of active trucks on the road can be expensive, and payments from clients can take some time to arrive. Companies like Business Factors make it much easier to address any challenge of this general kind.
Cash Here and Now for a Freight Invoice That Was Due Later
With many shippers and brokers paying only weeks or months after cargoes are delivered, being able to front the costs associated with completing such jobs could seem like a requirement. In practice, however, an arrangement known as freight bill factoring quite often makes it possible to keep on trucking at a very low price.
Companies that offer this service agree to provide cash up front in exchange for being assigned the right to collect the payment due on particular freight bills. Taking a typically small fee in exchange for the service they provide, they can help their clients successfully address cash flow issues and achieve other kinds of goals.
The Right Factoring Partner Makes Trucking Much Easier
Naturally enough, factors do vary with regard to how well they serve those who look to them for support. Trucking companies can improve their odds of making satisfying arrangements by seeking out factoring partners who are:
Ready to help right away: Some factors force would-be clients to work through difficult, demanding application processes and submit documents that detail their finances. On the other hand, there are also factors who are happy to accept freight bills submitted to well established brokers and shippers with no further burdens.
Charge low fees: An overly expensive factoring service is one that can create problems instead of resolving them. Low fees make factoring a much more practical option.
Are flexible: Excessively restrictive or onerous terms can likewise drag down the value of factoring.
By simply seeking out factors who can live up to such standards, trucking company operators can make things much easier on themselves. That can help make cash flow problems things of the past.
This project was last updated 1 month ago