Hit the road and leave cash flow problems behind with transportation factoring from Business Factors & Finance
There may be no more vital component of the American economy than trucking and transportation. But that doesn’t mean brokers, small fleets and owner-operates don’t struggle to find the best-paying freights to haul. And while they search, expenses keep mounting—payments to shippers and suppliers, fuel charges, and so on. Meanwhile owner-operators and others wait to be paid themselves by slow-moving clients and shippers. Where do the funds come from to pay for drivers, fuel and repairs?
Freight bill factoring from Business Factors & Finance has the solution.
Virtually all players in the transportation business experience cash flow issues from time to time. Poor cash flow means you’re unable to take on the caliber of clients that can help you grow your business. Without a significant (and steady) infusion of cash, you might be stuck relying on load boards for mediocre pay—not seizing opportunities to attract the best, high-paying clients.
Freight bill factoring (also called transportation invoice factoring) enables you to increase your cash flow, not only to fulfill daily operations with ease, but also assume more profitable and higher volumes of work. No more agonizing about late-paying commercial clients and shippers who act as a drag on your forward progress. Now there’s an opportunity to plan ahead for your transportation business, in ways that can accelerate tangible growth.
HOW DOES FREIGHT BILL FACTORING WORK?
With freight bill factoring, your business works with a factoring company to get up a cash advance of up to 96% on outstanding invoices with low rates. This way, you increase your cash flow, meeting financial obligations while also taking on a higher volume of work.
Just give us your freight invoices and accounts receivable, and get up to 96% of the face amount in cash. We collect the invoice and take on the credit risk.
Unlike banks, which can make you wait 30, 60, 90 days or longer after applying to receive funding, Business Factors & Finance can approve your application in as little as 24 hours. You get:
- An advance of up to 96% of the face amount of your unpaid contracts
- Fast, easy freight bill factoring set-up (no financials needed, no set-up fees required)
- Assured cash flow
- Low fees
- Financing tailored to your business’s precise needs (without incurring additional debt)
With transportation invoice factoring, you simply gain access to funds already owed to your business. You’re not borrowing funds or going further into debt. The result? Increased cash flow, which translates into a stronger source of capital and the chance to build the business you’ve always wanted.
A trucking or transportation business with solid finances is more attractive to partners, larger customers, skilled employees, and more.
WHO QUALIFIES FOR FREIGHT BILL FACTORING
Transportation factoring professionals at Business Factors & Finance can provide you with same-day decisions on freight bill factoring—and often same-day funding—for credit-approved shippers or brokers. Unlike other factoring brokers and banks, we put money in your hands so you can get the money you need to complete deliveries.
As today’s most service-focused freight factoring company, Business Finance & Factors helps these (and other) types of transportation firms:
- Small owner-operators
- Large transportation fleets
- Intermodal and container freight companies
- Freight brokers
- Dump truck haulers
- Long-haul truck load, local delivery or international
- Automobile transporters
- Haulers for credit-worthy shippers or freight brokers
- Transport companies that haven’t pledged accounts receivable as collateral
Freight bill factoring isn’t only the solution for short-term cash flow issues. Forward-thinking owners and companies can also leverage this option to add new customers and loads because there’s an assured flow of cash coming into the business. With a sizable amount of regular (or recurring) customers, freight invoice factoring means capital is always there to enable you to think ahead, far beyond daily operations.
What are your company’s strategic goals? Are you ready to move beyond small jobs from load boards to larger chains? Do you want to work with larger, established shippers? Medium shippers that pay well and on time? All of these options are available with invoice factoring.
HOW DOES YOUR FREIGHT COMPANY QUALIFY FOR FACTORING?
Any trucking or transportation business can qualify for invoice factoring (even small companies with a single vehicle can qualify, as can the nation’s largest fleets). The key qualifier is a customer base with a reliable credit history and a record of paying their bills on time.
Unlike other transportation factoring companies, Business Factors & Finance offers friendly, professional and confidential consulting anytime. The determination to provide financing depends not on your personal FICO and/or business credit score, but on the financial strength of your customers.
THE TRANSPORTATION INDUSTRY RELIES ON FREIGHT FACTORING
With high operational costs, demanding shippers, regular late or non-payments, and slim margins, many firms in the transportation industry depend on factoring to keep the wheels turning.
Freight factoring enables transportation companies to:
- Make use of invoice factoring-funded gas cards so that truckers never have to park longer than necessary to refuel.
- Cover the costs of drivers’ payroll as well as hire new drivers.
- Take on additional shippers, haul larger loads, or add new routes to existing business.
- Expand a fleet of trucks or keep existing trucks well maintained.
- Get paid no matter what! With non-recourse factoring, trucking companies get paid even if the shipper fails. The factoring company writes off the loss instead.
CHECK OUT BUSINESS FACTORING & FINANCE FOR QUICK FUNDING
The process is blindingly simple. Pay no upfront free, get simple credit qualifications and work with confidential and professional consultants. Stop borrowing money for fuel, permits, payroll or expenses.
By using invoice factoring, you can help increase your company’s working capital. This way, business partners, banks, and others will look at your business in an entirely new light.
There’s no longer any need to be limited to 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. Don’t wait! Check out our invoice factoring learning center to learn more about invoice factoring and how it can help your business.