What is
Freight Factoring in Trucking?
Freight Factoring –
fast money for truckers
Freight factoring is a means for truckers to be paid immediately for the work they have done, so they can move on to the next load while we handle the collections for their company. A freight bill factoring company like FactorLoads purchases trucking industry invoices and then funds the carriers for the receivables. Many trucking companies rely on freight factoring for cash flow. Even in good economic times, they cannot afford for their invoices to go unpaid for 30 to 45 days or more.
Factoring for Truckers
By FactorLoads
At FactorLoads, we take care of all of the back-office work you don’t have time to do. We’re specialists who have the knowledge and experience to handle all of the boring paperwork, meaning you don’t have to waste your time in the office. You can do what you do best while we do what we do best. Our trained team won’t miss a thing and will get your cash in your hands right away.
Our factoring for trucking is available for small and medium-sized companies that need their cash quickly but don’t necessarily have the resources to put into their accounts receivable tasks. We will look at your existing contracts and handle all of your invoices in a serious and professional manner. Stop suffering cash flow problems and the headache of trying to chase down your customers for payment.
The Right choice
For truckers and trucking companies
The competitive trucking business takes a lot of dedication and concentration, so free up more of your time by putting FactorLoads in charge of all of your load factoring. Our accounts receivable invoice factoring for trucking is suitable for:
Trucking companies:
We started our business doing the load factoring for small trucking companies that were in desperate need of their cash. We’ve grown to cover a range of small and medium-sized trucking companies that use their instant cash to grow their business and keep their trucks rolling.
Freight brokers:
Factoring services for freight brokering companies also bring several benefits. We give you the cash for your freight bills and pay the carriers while you focus on adding to your clientele list and creating stronger, more beneficial relationships with your carriers.
Learn More
About FactorLoads Freight Factoring
How Can Freight Factoring Increase Cash Flow?
By selling your invoices to FactorLoads, your cash flow worries are lessened significantly. We worry about collecting the funds and you have the cash you need for the immediate financial demands of your business, such as payroll and fuel. But beware, not all load factoring companies that deal with invoice factoring for trucking are the same. You need a trusted company with the right experience and reputation.
At FactorLoads, we’re an industry leader in load factoring and have been helping businesses unlock their cashflow for over 20 years. Having access to your cash right away isn’t just convenient — it can mean life or death for your business. When your invoices start to reach 30 to 45 days unpaid (or longer!), your business starts to suffer. You may have trouble paying your bills or even buying gas for your trucks.
What Are the Benefits of Factoring With FactorLoads?
- Immediate access to the cash they’re owed.
- Simplified load factoring taken care of by seasoned professionals.
- No complicated or confusing contracts to sign.
- A single, simplified payment plan.
- Access to your cash 24/7, wherever you are.
With advantages like this, it’s easy to see why FactorLoads has become the leading accounts receivable invoice factoring company in the business. When you contact us, we sit down and take the time to understand your business and find where we can take a load off you. With us taking care of your load factoring and providing you with your cash right away, you can get back to concentrating on what’s important: delivering your loads and satisfying your customers.
Is Freight Factoring Better Than a Bank Loan?
Freight bill factoring allows you to get cash without creating any debt. While you could secure a bank loan instead of factoring, there are significant and important differences between factoring and bank loans. Obtaining a bank loan to fund your receivables may prohibit you from getting more loans for trucks or other necessary equipment. Credit problems might prevent you or your company from qualifying for bank loans entirely.
With freight factoring, we provide you with money based on the creditworthiness of the freight customers you use, not your credit. With a bank loan, your company is on its own; the bank will not help with billing, collections, posting checks, carrier settlements and credit checks on new accounts. At FactorLoads, we do all of these services for you at no extra charge.