Many trucking companies wait 30, 60, or even 90 days before payment arrives from their customers. As a trucking company owner you know that, without working cash on hand, you will continually miss out on opportunities to expand their business or fall behind on major expenses. This is why so many carriers are choosing to factor invoices in order to fund their business and keep a strong cash flow. These benefits include a simpler application process, a much higher approval rating then bank loans, competitive rates, and faster funding overall.
Invoice factoring, for those who are unfamiliar with the term, is a type of accounts receivable financing that allows you to sell outstanding invoices due within 90 days to a third-party factoring company for immediate cash for your small business. The factoring company will then typically grant you an advance of roughly 80 to 90 or even as high as 97% of the value of the invoice. The factoring fee is usually small and differs depending on the plan you choose. One of the biggest advantages of freight bill factoring is the fact that you can often receive the money on the same day you apply. …show more content…
Additionally, I approval rates mean that carriers qualify even if they don’t have the best credit. This is because freight bill factoring companies look at the credit worthiness of your customers, and not you as a carrier.
The features and benefits of freight factoring with a reputable company such as Accutrac Capital are designed specifically to meet the grueling demands of hard working trucking companies. Here’s how it works:
• Your trucking company delivers a
Invoice factoring, for those who are unfamiliar with the term, is a type of accounts receivable financing that allows you to sell outstanding invoices due within 90 days to a third-party factoring company for immediate cash for your small business. The factoring company will then typically grant you an advance of roughly 80 to 90 or even as high as 97% of the value of the invoice. The factoring fee is usually small and differs depending on the plan you choose. One of the biggest advantages of freight bill factoring is the fact that you can often receive the money on the same day you apply. …show more content…
Additionally, I approval rates mean that carriers qualify even if they don’t have the best credit. This is because freight bill factoring companies look at the credit worthiness of your customers, and not you as a carrier.
The features and benefits of freight factoring with a reputable company such as Accutrac Capital are designed specifically to meet the grueling demands of hard working trucking companies. Here’s how it works:
• Your trucking company delivers a