Press Release: Freight Bill Factoring Helping Trucking Companies Grow
(PRLEAP.COM) Miami, Florida – Trucking companies and freight brokers can rely on freight bill factoring to eliminate the worry of waiting up to 60 days to get their freight bills paid. With freight bill factoring they can get paid in days.
“Freight factoring is a great solution for the transportation industry,” said Marco Terry, president of Commercial Capital LLC. “It eliminates payment uncertainties and provides truckers and freight brokers with the necessary funds to pay fuel, drivers and other expenses,” added Terry.
Freight factoring offers a very simple proposition. The factoring company buys the slow paying freight bills and provides immediate cash to its trucking client. The trucker or freight broker, in turn, gets money right away while the factoring company waits to get paid. This eliminates the slow payment cycle and provides the necessary funding to operate the business.
However, freight bill factoring is not for everyone. Freight brokers and trucking company operators should consider invoice factoring as a solution if their biggest challenge is not being able to wait until their freight bills are paid. It allows owners to get the business financing they need, while avoiding banks and their tough business loan requirements altogether. Typically, businesses can have a freight bill factoring arrangement in place in as little as 3 business days.
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