Knowledge is power when it comes to choosing the best options possible to maintain any company’s all-important cash flow.
Knowledge of where your company stands and how you can improve its financial future is especially critical in the highly competitive freight industry. With so many moving parts and different parties, the trucking business requires your constant attention to ensure that income is arriving in time to pay drivers, fuel bills, equipment payments, insurance, taxes, and much more.
For most trucking companies, invoice factoring has been an excellent financial tool to both maintain cash flow and expand operations. Factoring closes the gap between the day a load is delivered and the day the customer pays for that delivery. Factoring clients don’t have to wait 30, 60, or even 90 days to get paid. They receive working capital right away to pay bills, hire new drivers, buy new equipment or whatever is needed to run their business.
To help motor carriers better understand the factoring process, Interstate Capital – a leader in transportation factoring since 1993 – has created a how-to guide to freight bill factoring. Easy-to-follow explanations walk business owners through the entire process, from applying for factoring to choosing how you’d like to receive your funds. Helpful tips guide trucking professionals through the decision making process and the benefits of getting paid upfront on their invoices.
Browse through your Freight Bill Factoring Guide to answer your most pressing questions about this debt-free way to gain working capital fast.
✓ How does freight bill factoring work?
✓ How will factoring help you grow your company?
✓ What are the signs that show your company needs factoring?
✓ How much does factoring cost?
✓ How are factoring rates calculated?
✓ How do you to pick the right factoring company?
✓ What free features should you expect from a factoring company?
Equip yourself with the knowledge you need on freight bill factoring. When you’re ready to talk about which factoring program will be best for you, call Interstate Capital today. You can also get a complimentary cash flow assessment online right now!