Many trucking companies have cash flow problems due to slow paying customers. Even though the shipment has been professionally delivered in a timely manner the trucking company may have to wait 30, 60 or even 90 days before freight invoices are paid. In essence they are using trucking company’s money to finance their own operations.
In the meantime, during this waiting period, trucking companies still have their own expenses to pay including fuel, payroll, insurance, and maintenance. If the amount of current payables exceeds the available cash on hand, this could be a cash flow problem.
These cash flow problems can be eliminated with factoring for trucking companies. Factoring is a very common, reputable financial transaction conducted by companies of all sizes in numerous industries worldwide. One of these is the trucking industry.
“Factoring, often called “accounts receivable financing” is where funding for trucking companies is available immediately without borrowing money. Unlike a bank loan, physical collateral or good credit is not required to be able to get factoring for your trucking company. The accounts receivable are the collateral and we mainly look at the shipper’s credit rating for making the advances and not the trucking company,” states Keith Hunt. V.P. Marketing for www.GetFactoringForTruckingCompanies.com.
​Unlike other factoring companies they specialize exclusively in servicing trucking companies nationwide. They work with owner/operators, large fleet operators and startup trucking companies. For a free, no obligation discussion about any specific situation and all the benefits available please contact a specialist at 209-225-2852.
Hunt continues, “As trucking industry specialists, we make the entire factoring process easy and fast for clients. Once we purchase the receivables an advance of funds are generally made by direct deposit straight into your bank account within 12 hours. You now get the money you earned not in weeks or months, but hours!
“Once the funds are deposited they are available for use immediately allowing trucking companies to maintain a consistent positive cash flow. This allows truckers to move on to the next load and without disruptions or waiting to get paid. This, in turn, adds the amount of revenue the trucking business generates each week, month and year!
“We pre-approve your shipper, fund your account the same day and then we professionally collect payment on those invoices. This takes the trucker out of the billing and collection department and keeps them behind the wheel making more money. The benefit to utilizing our services is that that receivables are paid almost immediately rather than waiting 30 to 60 days or even longer for slow paying customers to pay you directly.
“Factoring bridges the payment gap and allows you immediate access to working capital. “Do you have outstanding receivables? With factoring for trucking companies eliminates worry about slow paying customers dictating terms anymore, instead get paid on invoices within 12 hours,” concludes Hunt.
Media Contact
Company Name: Get Factoring For Trucking Companies
Contact Person: Keith Hunt
Email: Send Email
Phone: 9096364012
State: CA
Country: United States
Website: www.getfactoringfortruckingcompanies.com/freight-bill-factoring-process