About Factoring For Trucking Companies
Factoring is a very common, reputable financial transaction conducted by companies of all sizes and in numerous industries worldwide. One of these industries is trucking.
Factoring, often called “accounts receivable financing” has been in existence for decades.
Factoring is where funding is available without borrowing money or putting up any form of collateral.
You sell invoices or accounts receivables at a small discount to a third-party financial company, somebody like us, known as a “factor.” The accounts receivables act as their own collateral.
We specialize in factoring for trucking companies working with owner/operators and trucking companies that operate larger fleets of vehicles. As your factoring company we advance a large percentage of outstanding invoices owed to you within 24-48 hours.
The funds are generally made by direct deposit straight into your bank account allowing you to maintain a consistent positive cash flow.
We then collect payment on those invoices from your customers. 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 gives you an edge over your competition by allowing you to target larger accounts.
For more information on factoring for trucking companies please call us today 209-225-2852.
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