FREIGHT FACTORING FOR TRUCKING COMPANIES
Fuel advances and rates as low as 1%. It’s easy to qualify!
Haul and deliver the load. Get paid right away. Freight factoring for trucking companies ensures carriers are paid immediately for loads delivered. It doesn’t matter if your shipper or broker pays on 30+day terms, your trucking company receives the cash in 24 hours or less.
Freight factoring is an easy way to boost your cash flow by selling your invoices to a factoring company for an instant advance. Once you’ve delivered your load, a factoring company purchases your invoices and advances your company the cash on the same day. Funds can be received via direct deposit or placed right onto your fuel card if you prefer. Advances range between 95%-98% of the invoice amount.
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.
Every business experiences highs and lows. It can be difficult 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.
Start-ups and small businesses are always looking for ways to compete with their larger rivals. But, 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
Trucking businesses and owner-operators with bad credit may still be eligible for invoice factoring because factoring companies 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.
Banks loans can take months to get approved and charge high interest rates, leaving small businesses in debt and despair. Fortunately, unlike a bank loan, trucking factoring provides businesses and owner-operators money without putting them in debt later. Get funding that is fast, reliable, and all yours by factoring for your trucking company.