Factoring Company for Truckers: A Smart Solution for Fast Payments
Waiting 30, 60, or even 90 days to be paid for a haul? That's not only annoying—it can cripple your cash flow. Trucking is a high-speed business, but invoices travel slowly. That's where a trucker factoring company comes in, providing a lifeline to keep your wheels (and your wallet) turning. If you're an independent owner-operator or operating an expanding fleet, invoice holds can bring your business to a standstill. But there's a better way to do it: load factoring . Let's lay it out and see why more truckers are teaming up with factoring compan y for truckers to get paid faster and achieve financial independence. What Is Load Factoring and How Does It Work? Load factoring—also referred to as freight factoring—is a financing service that converts your unpaid invoices into the cash in your hand immediately . Rather than waiting for payment from shippers or brokers, a factoring company loans you most of the invoice amount (typically 85-95%) i...