Why Factor Freight Bills?
Why do truckers factor freight bills? Trucking businesses increase their cash flow and maximize output with freight factoring. Transportation factoring companies are here to help your trucking business grow. Simply submit freight bills for funding and factors will buy the bills at a discount, providing you immediate cash in return. After purchasing your freight bills, the truck factoring companies will collect payment directly from your customers so business never has to slow down.
The trucking industry is demanding and smart funding can be the difference between success and failure. There are a variety of reasons a trucking business may be in need of funding, but whatever the reason, don’t wait to apply. Factoring freight bills is quick and easy so apply today for a free quote.
6 Reasons Smart Truckers Choose Freight Factoring
1. Slow Paying Customers
If you’re waiting to get paid for loads that have already been hauled, your trucking business could be missing out on new opportunities to make money. Don’t let slow paying customers keep you from taking on new loads. Factoring freight bills allows trucking companies to bypass slow paying customers with the funding to keep trucks on the road hauling more freight
2. Seasonal Fluctuations
Every business experiences highs and lows. It can be difficult, especially for small businesses, to deal with a downturn in profits without cutting spending and releasing staff. Luckily, trucking businesses can counteract a lapse in earnings by factoring freight bills. Don’t let seasonal downturns or fluctuations in profits destabilize your trucking business. Start factoring freight bills and protect your business today.
Start-ups and small businesses are always looking for ways to compete with their larger rivals. Yet, having initial success is rare and businesses often lose a lot of money before they make it back. Small trucking businesses get the funding they need when factoring freight bills. Transportation factors provide cash immediately so trucking companies can invest their funds forward and compete against bigger businesses
4. Bad Credit
Trucking businesses and owner-operators with bad credit may still be eligible for freight bill factoring because factors collect payment directly from your customers. Truck factoring companies are only concerned with the credit of your customers so you don’t have to worry about your personal or business financial history.
5. No Debt
Unlike a bank loan, factoring freight bills provides trucking businesses money without putting them in debt later on. Banks loans can take months to get approved and charge high interest rates, leaving small businesses in debt and despair. Get funding that is fast, reliable, and debt free by factoring freight bills.
6. Exceptional Benefits
Factoring freight bills also helps trucking businesses by providing a variety of additional services. Start factoring freight to get fuel cards, receive access to online load boards, and enjoy free customer credit checks among other complimentary services that will help your trucking business.