Regardless of how many different ways you try to juggle time commitments, there are still only 24 hours in a day,. As the independent owner-operator of a small trucking company, you may find that your time comes at a premium. Between the demands of obtaining new clients, managing your drivers and deliveries, and driving your own rig, you may be hard pressed to actively work to recover money that you are owed by slow or nonpaying customers.
One slow paying or uncollectible freight bill could make it impossible to purchase fuel to haul that next load. Without enough cash, you could be out of business before you really get started. This is where the help of freight bill factoring could be very beneficial.
Extend Your Reach with Freight Bill Factoring Company Services
Rather than spreading yourself and your time thinner than you already do, it might be worth considering an alternative to your own internal collection efforts. Freight bill factoring offers an efficient and high-return solution to the challenges that you are facing.
Freight bill factoring can solve the problem of a slow paying invoice by using a solution that provides the equivalent of a quick payment. It works by using a financial intermediary (freight bill factoring company), who advances funds against your freight bills. They settle the transaction once your client actually pays the bill. One advantage of factoring is that it provides the equivalent of a quick payment, without requiring your clients to pay faster. This makes it easy to integrate in most organizations.
Freight Bill Factoring vs. Traditional Business Loans
Freight bill factoring has a number of advantages over a traditional business loan for this specific type of cash flow problem. Probably the biggest advantage is that it’s easier to qualify for factoring than it is for a business loan. That’s because factoring companies look at the credit quality of your payers when making their decisions, not just at you. Furthermore, freight factoring is dynamic. Your financing line can be designed to grow in size with freight bill volume, providing a form of financing that firmly supports growth.
Picking the Right Freight Bill Factoring Company
There are many freight bill factoring companies to choose from, but Pay4Freight.com’s focus is to work directly with small trucking companies and truck owner operators, so they can compete equally in the transportation marketplace against much larger operations. Pay4freight specialists take pride in providing you the best non-recourse freight factoring services in the industry. Call Pay4freight.com today and leave your slow paying invoice problems behind!