Freight Factoring

Trucking invoice factoring

Trucking and transportation companies and freight brokerages all play a vital role in our country’s economy. However, you may struggle with having to pay shippers, suppliers, and fuel charges while experiencing long-wait times for payment of your services. Freight bill factoring from Business Factors & Finance can change all that.

 

Ship It: Get Cash Quickly with Business Factors’ Freight Factoring

If one industry dominates the use of invoice factoring services more than any other, it is the transportation sector comprised of freight, rail and trucking companies.

In order to keep trucks and freight lines moving, these businesses must have their expenses covered and positive cash flow. Though there are a number of business opportunities for trucking and transportation companies, competition among carriers can be tough with the lowest bidder often securing the job. This can make profit margins slim for small and even mid-sized carriers.

 

Discover the Benefits of Freight Bill Factoring with Business

Freight Factoring

Factors

While cutting unnecessary costs is a good practice for any business, those in trucking and transportation must often do more than that. Due to the incompatible payment terms that exist between the shipper and the carrier, where the shipper demands immediate payment while the carrier doesn’t collect until delivery, cash flow for many trucking companies tends to be problematic. If not addressed quickly, poor cash flow can be the downfall of many businesses even those that routinely turn a profit.

For these reasons and more, many carriers rely on freight bill factoring to shore up their cash flow. Freight factoring allows transportation companies to get paid in a few days instead of 30 or more days.

 

Freight Invoice Factoring with Business Factors Enables Companies to:

  • Cover expenses associated with the transportation industry, such as fuel, vehicle maintenance and repair, containers, drivers’ payroll, licensing fees, insurance and more.
  • Improve cash flow so that your company can operate in a more cost effective manner.
  • Have money in the bank so they can bid on future jobs.
  • Expand its fleet of vehicles to take on new routes or haul additional loads.
  • Invest in marketing or promotional activities to attract new business.

As an experienced transportation factoring company Business Factors also offers some secondary benefits such as non recourse freight factoring. This means even if your client doesn’t pay its bill, you get to keep the money advanced to you. This can be an important consideration for a trucking company that is just starting out or one moving into an unfamiliar territory or region.

 

Learn about Your Clients in Advance with Freight Factoring

Because Business Factors will run a credit check on a potential client, you can know ahead of time whether or not this client has a recent history of paying its bills on time. Discovering this information in advance can save you a lot of aggravation further down the road.

After all, you would most likely hesitate to take on a new customer if you knew in advance they had a poor record of paying their bills. This is one more reason why many in trucking and transportation choose freight bill factoring as their preferred financing option.

Freight truck

Freight Factoring Includes Lots of Little Extras

In addition, Business Factors handles all your collections and accounts receivables responsibilities. This way, you can use your time and energy to focus on revenue-generating activities like sales and business development rather than back office accounting.

Business Factors also offers reusable fuel cards so that truck drivers can refuel quickly and conveniently at the pump. These fuel cards allow a portion of the money from freight bill factoring to be deposited directly on the fuel card account. This way, drivers don’t have to carry cash and you don’t have to wonder how they will pay for gas. Fuel cards are a complimentary offering and part of the larger freight bill factoring process.

Business Factors uses an online account management system allows you to log in at any time and check the balance of your accounts. With full transparency, you can know precisely when a client pays its bills so there are no hidden late fees or add-on charges.

 

Business Factors Processes Large and Small Volume Monthly Financing

Its freight factoring rates are competitively priced as it handles a high volume of customers. So whether you are a new company seeking to use transportation funding for the first time or an experienced firm seeking to finance more than $200,000 in invoices per month, Business Factors can help.

As an experienced transportation factoring company, it has the financial capital to help support large-volume factoring as well as the small business focus to help out early-stage businesses. By helping these businesses when they are first starting out, Business Factors seeks to build long term relationships and continue to serve them as they grow and increase their monthly freight factoring volume.

So if you are comparing transportation factoring companies, contact Business Factors today to see how they rank. They can work with you to answer any questions you might have about the freight factoring process and set you up quickly so you can start cashing in on your receivables today.

Get Your Next Load and Don’t Wait To Get Paid.

Banks can make you wait 30, 60, 90 days or longer after you make your application to get your money. Business Factors & Finance can approve you in as little as 24 hours.

  • Get an advance of up to 96% of the face amount of your unpaid contracts.
  • Enjoy fast, easy freight bill factoring set-up.
  • Save money with low fees.
  • Let Business Factors & Finance take 100% of the risk by handling all collections of factored freight bills.
  • Pay no upfront fees and save time with simple credit qualifications.

Get the money for your freight contracts now, not later

Unlike other factoring brokers and banks, Business Factors provides freight bill factoring, transportation factoring, and more that puts your money in your hands so you can get the money you need to complete deliveries.

How does a freight company qualify for factoring

trucking fleet

Any trucking or transportation business can qualify for invoice factoring (even small companies with only one vehicle can qualify, as can the largest fleet in the nation). The most important qualifier is a customer base with reliable credit history (and a record of paying their bills on time).

Unlike other transportation factoring companies and you get friendly, professional, confidential consulting anytime. The financial strength of your customers, not your personal FICO and/or business credit score, is all it takes to get freight bill factoring from Business Factors & Finance.

Rely on friendly, professional, confidential freight factoring consulting

Your transportation-based business does not have to be limited to the traditional funding options offered by banks or other freight factoring companies. Our programs provide you with the funds you need in as little as 24 hours. So don’t wait. We encourage you to check out our invoice factoring learning center to learn more about invoice factoring and how it can help your business.

Apply online or learn more about Freight Factoring:

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Or call us anytime 24/7 at 800-672-3844.

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