Freight Broker Factoring is a very common means of funding for trucking brokering companies with todays cash intensive business environment. The business climate today tends to make the freight broker act as the bank for all the customers. When customers expect you to perform your service and then extend payment 30, 40, or even 50 days your acting as a bank. Freight bill factoring can allow you to outsource the bank function to the factoring company and this allows you to focus on the freight brokering, not the cash flow and the mail box.
If your like most freight broker companies you did not start your business with the expectation of being the bank for your customers. Freight bill factoring can get you back to what you do best and leave the banking up to the freight bill factoring company. What makes this the most irritating for the freight broker company is that the larger companies are the ones that like to use your money the most. They expect the use of your hard earned trucking business money at no cost to them. These larger firms in the trucking industry often use "keeping the business" as a means to keep stretching out the credit terms on the small truck companies. Freight bill factoring will allow you to operate more effiently in this environment even with the bigger firms.
Every freight broker and trucking company needs to decide if factoring the freight bills makes sense. If your business is passing up business by waiting to get paid then it may make sense to try freight bill factoring. Maybe the trucking business could use the funds productively within the business if the payments came in the same day you billed the customer. With trucking and freight bill factoring you will get paid the within 24 hours of issuing the freight bill and invoice. Many transporation companies discover that they can be more profitable when they are paid sooner rather than a month or so later.
Freight bill factoring is now becoming very common as customers continue to pay later and later. We have helped thousands of freight broker companies get back to predictable cash flow and leave behind managing the mail box for payments. With today's banking environment we have helped these trucking companies obtain the working capital they need by factoring freight bills. Most banks do not fully understand the trucking business and often cannot provide the needed working capital. Since we specialize in truck factoring we are able to provide working capital by evaluating the credit of your customers so we can get your freight broker company the needed operating cash flow.
We are proud to provide freight bill factoring services to the companies that keep the goods moving. Freight movement is the basis for the entire economy to keep moving ahead and we need to keep the cash flowing as our trucking clients keep the goods moving.
If you would like to discuss trucking factoring feel free to give us a call at 1-877-876-2803.