Factoring companies offer an alternative to conventional Bank Financing. When the banks either couldn’t or offered too little, factors offer trucking companies a steady stream of cash through the invoice factoring of their account receivables.
Factors understand that waiting 30-60+ days for payment of an invoice ties up your working capital. By receiving payment immediately upon invoicing, through our factoring program, you will have the money to meet payroll, grow your company, and pay suppliers. They’ll wait for your customer to pay.
The process is called ‘invoice factoring,’ and in the simplest terms, it means the factor advances you up to 95% of the invoice amount immediately and gives the remaining balance when your clients settle in full.