Many trucking companies have cash flow problems due to slow paying customers and the need to constantly have cash on hand to buy fuel every day for their vehicles. Even though the freight has been professionally delivered in a timely manner the shipper or freight broker still waits 30, 60 or even 90 days before paying trucking company invoices. 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 with to be able to get factoring for your trucking company. The accounts receivable are the collateral and we mainly look at the shipper’s or broker’s credit rating for making the advances and not the trucking company,” states Keith Hunt. V.P. Marketing for www.GetFactoringForTruckingCompanies.com.
The company specializes in factoring for trucking companies nationwide. They work with owner/operators, large fleet operators and also with start up trucking companies. For a free, no obligation discussion about your 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 the same day we get the freight bill. 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 you to maintain a consistent positive cash flow. This allows you to move on to the next load and continuing running without disruptions or waiting to get paid and this in turn adds the amount of revenue your business generates each week, month and year!
“We pre-approve your broker or shipper, fund your account the same day and then we collect payment on those invoices from your customers. This takes you out of the billing and collection department and keeps you behind the wheel making more money. The benefit to utilizing our services is that you receive cash quickly on receivables, 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. Working capital means a steady cash flow, allowing you easily to buy fuel, meet payroll and handle payables to your vendors.
“Do you have outstanding receivables? With factoring for trucking companies you don’t have to worry about slow paying customers dictating terms anymore, instead get paid on invoices almost immediately,” concludes Hunt.
Company Name: Get Factoring For Trucking Companies
Contact Person: Keith Hunt
Email: Send Email
Country: United States