Small Carriers Increasingly Turn to Non-Recourse Factoring for Improved Cash Flow
Small carriers are respected as the backbone of the trucking industry, especially with the rise of so many new businesses that need the personalized service that only a local trucking company can provide. However, especially because fuel costs are so high and bank finance is difficult to obtain, many carriers find that their cash flow situation forces them to take on small, unprofitable jobs which pay quickly so that they have cash on hand to pay bills and continue operations.
However, non-recourse freight bill factoring provides a cost-effective and efficient alternative to both bank financing and taking on jobs strictly for immediate cash flow. A reputable non-recourse factoring service offers immediate cash advances based on invoices which have been sent to clients and which are payable in the near future. It assumes the entire credit risk for the invoices which it purchases, and takes over the entire responsibility of collecting on invoices for a reasonable fee.
Therefore, by using freight bill factoring, a carrier has access to cash as soon as possible, by selling invoices that are due within 30 or 45 days to the factoring company. Non-recourse freight bill factoring means that even if the client does not pay on time, the collections process is handled by the factoring company and the carrier has no liability whatsoever to the factoring service.
A freight bill factoring provider which focuses on the needs of small carriers, and particularly understands the needs of owner-operators for quick and personalized service, is the answer to short-term financing needs. Not only does non-recourse freight bill factoring provide cash flow, but it takes the headache of collections out of the hands of the carrier so that the carrier can do what it does best – moving freight.
Based in Lewisville, TX, Pay4Freight.com is a leading non-recourse freight bill factoring company which is dedicated to serving small carriers by providing the fastest possible turn-around time and the most reasonable fees for its services. Pay4Freight.com helps owner-operators finance their fuel and maintenance bills by providing same-day advances for faxed invoices as it takes upon itself all risks and all work related to collecting on the invoices that it purchases from its growing list of satisfied clients.
