Transportation factoring, sometimes referred to as trucking or freight factoring, is a common way to fund your trucking or transportation business. Factoring provides cash advances on your invoices and eases the burden of collecting cash from your customers. Hauling companies use freight factoring companies because it means that instead of waiting 30 to 60 days for customer payments, you receive immediate cash upon sending your bills or invoices to your factoring company.
Freight factoring is a ideal for trucking companies or couriers of all sizes. If your freight handling or transporting business is growing and you have credit-worthy customers, then you’re a great candidate for factoring services. Factoring companies focus much more heavily on the credit of your customers than on your business, so you can often qualify even if you have less than perfect credit.
Trucking factoring services also gives you more time hauling loads and less time waiting for and collecting customer payments.
Freight factoring is so common in the trucking industry because small and growing trucking companies can’t qualify for a bank line of credit. Invoice factoring provides quick and reliable working capital when a factoring company purchases your freight bills or invoices.
Factoring companies typically provide these common services:
1. Same day or 24 hour funding on invoices, upon verifying delivery or service completion.
2. Accounts receivable collections from your customers.
3. Credit services to monitor new and existing customers, so you don’t incur any bad debts or losses.
4. Receivables and cash reports on a daily, weekly or monthly basis so you can track your accounts receivables and cash flow.
Transportation factoring provides quick access to working capital tied up in accounts receivable.
Getting started with an invoice factoring company like Mazon Associates is really simple. Mazon works with all types of transportation businesses, especially in industries such as construction and oilfield services.
If your business needs quick, steady access to your cash that’s tied up in receivables, then it’s the time to consider our the benefits of freight factoring.
Consider partnering with Mazon Associates for your cash flow needs and enjoy the stability you get for your transportation, trucking or courier business.
As the premier online resource for factoring companies in the U.S. and Canada, FactoringClub has selected Mazon Associates as one of the top factoring companies based on contract terms, customer service and company leadership. This award is the most prestigious and recognized honor in the entire factoring industry. We were recognized for our excellent terms of service, outstanding customer service and industry leadership.