Trucking Companies Improve Cash Flow Fast by Factoring Freight Bills with Us

By factoring freight bills instead of waiting on customer payments, trucking companies can continue to move freight from point to point without worrying about working capital or cash flow restraints.

Find Companies Factoring Freight Bills with Fast Funding, Low Fees, and High Advances

One of the perks of factoring freight bills with one of the best factoring companies for trucking is that – unlike many financing alternatives which come along with slow application processes, long review periods and low approval rates, trucking companies factoring with us can go from application to funding in days.

Freight factoring is a flexible, proven method of business financing which has been around for hundreds of years. Numerous industries rely heavily on invoice factoring to grow and build their business, especially trucking and logistics.

Invoice factoring can give a business fast access to working capital through a flexible, easy to implement business financing tool. Business opportunities often present themselves on short notice:

• You have the opportunity to acquire a big customer, but it will require additional resources
• You can save money by making bulk purchases at a discount
• You have contractors or suppliers that offer cash payment discounts
• You could make more money by adding a new line of products or services to your menu

And when you only have a short time to react to opportunities that could help you grow your business, you need to have access to the working capital and cash flow quickly. By factoring freight bills, trucking companies can continue to move freight from point to point without worrying about working capital or cash flow restraints.

Freight factoring could be the answer to your cash flow questions. 

When you work with a freight factoring company, you can sell your invoices for a fee and get immediate access to working capital that would otherwise have been tied up for weeks, or even months, in those same invoices. We work with some of the best factoring companies in the industry, helping our clients get factoring agreements that enable them to maximize the benefits of factoring to grow more quickly. Here’s how the process works:

• Your business performs a service or provides a product to another organization and an accounts receivable invoice is generated.
• Rather than waiting for 45, 60, 90 days (or even longer) for your customer to pay you directly, you factor the freight bill and get immediate access to working capital – up to 98% of the invoice total. The remainder, less a low factoring fee (which could be as low as 1%)  is held in reserve.
• After your customer pays the invoice off, the amount held in reserve is also released back to you.

Because no two businesses are alike, we help our clients get tailored freight factoring programs based on what is most important to them.

For instance, some freight factoring companies require monthly minimums, but we can help you find factoring services that allow you can factor only when you want to.  You stay in the driver’s seat, so that you can choose what’s best for your trucking business.

Some factoring companies require that they send out invoices to your customers; if you want to retain control of customer invoicing, we can help you find factoring services that allow that. We can help to manage your receivables by sending the invoices to your customers or you can retain control of this aspect of communication.

We can help you find factoring companies that work hard to earn your business with great customer care instead of relying on long term contracts or lengthy auto-renewal periods.

If non-recourse freight factoring is important to you, we can help you find factoring companies that factor without recourse, giving you added financial protection. If your customer can’t pay due to insolvency, the non-recourse factoring company will absorb the financial loss, not you. Non-recourse factoring companies rarely require clients to buy-back unpaid invoices.

We don’t charge application, due diligence, notification or funding fees – no hidden fees or similar unpleasant surprises. It doesn’t cost you any more to work with us, but it could help you get a better freight factoring agreement in place, so you can grow your trucking business faster.

Access to working capital can make a huge difference when you need money to expand your business, gain an edge over competitors or take on a big new customer. Factoring freight bills can you with fast access to the working capital you need – and working with us means fast access to working capital to grow your business along with flexible options that keep you in the driver’s seat!

Get a free, no-obligation freight factoring quote – you could go from approval to your first funding in hours!