TRUCKING FACTORING FOR TRANSPORTATION COMPANIES
In the U.S, nearly 12 million trucks, locomotives, rail cars, and other vessels move products over the transportation network. Even more, every load comes with a ton of paperwork like rate confirmations, lumper fees, bill of lading, and detention charges. So how do owner-operators manage all that paperwork while submitting invoices and managing drivers and loads?
The invoice process can be frustrating for any transportation company. But there is a solution: trucking factoring. Trucking factoring is a dependable service that can improve operations and make your business more productive. Below are a few additional ways trucking factoring can improve efficiency for your transportation company.
FAST FUNDING & APPROVAL PROCESS
Trucking factoring is a desirable alternative to more traditional sources of business funding that converts outstanding invoices into immediate cash for your transportation business. If your trucking company has a sudden change that could cause cash flow problems, trucking factoring can provide you with the money you need in as little as 24-48 hours. Even more, getting approved for trucking factoring is a relatively fast and easy process that can be completed in as little as 2-3 business days. This makes it the perfect solution for those just starting out in the business or if you have bad or no credit history.
MONEY TO GROW YOUR BUSINESS
As mentioned above, trucking factoring is intended to provide immediate cash flow to your business. Depending on the size of your company, having this dependable funding can help you meet daily expenses and grow your business with new trucks, drivers, etc. Keep in mind that nearly 60% of all invoices are paid late. Without trucking factoring, the growth of your business could be limited or even remain stagnant as a result of cash flow problems.
TRUCKING FACTORING IS A DEPENDABLE SERVICE
It’s important to look at trucking factoring as more than just immediate money. While an invoice factoring company like Integrity Factoring charges a small, low-flat rate as payment, they ease the burden of the invoicing and collections process for you. This allows you to focus on more important things like running your business. As a business owner, this provides you with a valuable service aside from just getting money. You’re getting the support you need to help your business grow.
Taking the time to understand how invoice factoring services can optimize efficiency, revenue, and growth for your trucking company is the key to making the right financial decisions. For more information about our trucking factoring services, contact Integrity Factoring at 1.866.834.7338. When you partner with us, you’ll get the funds you need quickly and reliably to run your company more efficiently.