Invoice factoring is the practice of “selling” your invoices, or accounts receivables, to a company that then pays you right away for that invoice, minus a fee. This helps you increase cash flow to pay bills, finance operations, take on new business, and handle business expenses as they come up. Factoring companies may also handle
Running a modern freight company takes a lot of work, and you have to do a lot more than just perform owner or manager duties, which are by themselves significant. You’re also your own human resources department, marketing department, and accountant. Freight factoring (AKA load factoring) makes that last job a little easier by helping
One of the most significant issues for any small business is cash flow. Most clients you haul for pay your invoices 30, 60, or even 90 days later. In the meantime, you still have expenses to continue to run your company. Some daily and monthly expenses like fuel, maintenance, and insurance can’t be put off
Having an efficient process for generating freight invoices will help you get paid faster. Getting paid faster means carriers can concentrate more on booking freight and delivering loads rather than racking up hours creating invoices and tracking down payments. We’ll explain some of the key elements that make up a freight invoice and the level of detail
What is truck factoring? Being a carrier can lead to a great deal of freedom, especially as an entrepreneur. But one downside of being an owner-operator is getting paid on time. If you’re lucky, you might get paid at the end of a delivery. But more often than not, you end up waiting for your
Whether you’re an owner-operator or you’ve got a fleet of trailers on the road, managing your cash flow can be a challenge. It’s easy to get overwhelmed by paperwork, tracking invoices, and collecting what you’re owed. That’s why many carriers turn to invoice factoring to get paid faster. What is a factoring agreement? A factoring
The factoring business isn’t always well understood and even gets a bad rap in some instances. But why is this? The act of factoring a load helps a carrier in so many different ways, you’d think that everyone would be excited about factoring companies. Today we’re going to be debunking some of the most common
Curious about what digital freight matching is all about? Learn about digital freight matching and the idea that a carrier can simply tap to accept a load and then hit the road.
Whether you have one truck or five on the road, factoring may be able to benefit your trucking business. Learn more about the benefits of factoring.