There are many industries in which companies can get by simply on a good sales pitch and reliance on future returns to fund their operation and growth. Unfortunately, the trucking business is not one of these industries. Individual truckers and small trucking companies are forced to continually have access to cash. A client’s failure to submit timely and proper payment for services rendered can seriously interfere with the fundamental business need of keeping cash on hand. Even a handful of slow-pay clients can put a halt to a small trucking company’s dreams. Invoice factoring for trucking companies will get you paid sooner than the 30 to 60 days that it usually takes to get money from an invoice, giving you the cash flow you need.
Invoice Factoring for Trucking Companies Keeps your Drivers on the Road
You’re already paying for your truck, fuel, insurance, maintenance, and other overhead expenses. After delivering a load, you can expect to wait the industry average of 43 days to get paid on your freight invoice. One slow pay or uncollectible invoice could make it impossible to purchase fuel to haul that next load. Using invoice factoring for trucking companies can truly keep you running when brokers or shippers can’t pay for financial reasons, not just insolvency or bankruptcy.
Keep Needed Cash on Hand : Use Invoice Factoring for Trucking Companies
Do not let your financial success or independence be adversely affected by an irresponsible client with a slow paying invoice, and don’t lose drivers by not paying them on time. Many small businesses underestimate the impact of a slow paying invoice, but that extra thousand dollars could make the difference between getting that driver to the next load or spending the weekend on the telephone trying to figure out how to pay for fuel.
Your business may have paper profits with large account receivables balances, but without cash, you could be out of business before these bills are collected. Invoice factoring for trucking companies can provide the cash you need, when you need it, allowing you to continue your operations. Just as important, you will be freed from the stress that accompanies the uncertainty of whether you will be able to collect on an unpaid invoice.
Invoice Factoring for Trucking Companies – Services from Pay4Freight.com
There are many companies to choose from that provide Invoice factoring for trucking companies, but Pay4Freight.com’s focus is to work directly with small trucking companies and owner operators, so they can compete equally in the transportation marketplace. Their 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!