What is Freight Factoring and Why Do I Need It?
If you’re wondering about why you’d explore freight factoring and why you need to at all, let’s start with the fact that invoice factoring is all about you and your business. The idea of having consistent cash-flow for turnaround of business operations and invoice factoring is well-established, and provides freedom to owner-operators like you to move from load to load without being overly challenged with out of pocket expenses. Truckers will often find themselves wishing they had additional resources to make ends meet and with invoice factoring, your wish becomes a reality.
What’s In It For Me?
So, why invoice factoring? I mean the banks all of have solutions: lines of credit, loans and more, right? For many, the interest rates of banks can take a real bite into your income, along with the longer processing times to have funds issued to you. If the bank even approves you, it can take months. Freight factoring has put bank loans to rest so you can stay actively afloat and be profitable, without relying on your biggest client’s regular payments. And what about all of the paperwork for funding? Credit checks, a history of banking information and more? A thing of the past with invoice factoring, and here are a few more reasons freight factoring could be your best cash-flow solution:
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- Cost and turnaround time of cash-flow. Mentioned above, banks are expensive and their loans or lines of credit can be painful to your business, not to mention the slower processing time in situations when you just can wait for the money to come in. We deliver your funds as fast as an hour and max in one week with the best rates. How’s that for fast cash?
- Credit checks and their ease of access. Who has time to stay on the phone or deal with endless emails with government offices regarding credit checks, and what if you’re constrained with loan options due to prior credit history? Forget all this and step into the age of freight factoring for a simplified cash-flow process that’s attainable within hours.
- Chasing customers – yup, buh-bye! Yes, you heard us, if you’re sick and tired of trying to get paid and you just want your money on time, invoice factoring’s definitely an ideal option for you. Leave the headaches of phone calls and legal concerns up to us. We are experts in getting the funds from your customers and thrive on it. The big bonus: your focus is directed to what matters most – delivering the load and moving on to the next one for continuous income. We do all of the credit checks to identify nasty brokers that are reducing your revenue.
- Bills, bills, bills – so, can you pay them? If your answer is still no, then freight factoring will open endless doors to you and allow you to have the flexibility you need to get bills paid and fast.
- Professionals running your backend operations. If you’re already in the good hands of invoice factoring pros, let us manage all of your back office billing, payment tracking and processing for smooth and seamless operations.