How Can the Leading Freight Factoring Companies Help Build Your Cash Flow?
To freight businesses, owner-operators, and logistics companies, cash flow is one of their most urgent concerns. Picking up loads all over the country and waiting 30, 60, or 90 days to get paid can be crippling. That is when freight factoring professionals come into the picture. In this post, we’ll explore how the best freight factoring company can help fuel your business’s growth by improving cash flow, especially for fuel card owner-operators and truck stop factoring solutions. Understanding Freight Factoring Freight factoring is a process of capital where a trucking company sells its outstanding invoices to a third-party factoring company at a discount. To do that, the factoring company gives instant cash, typically 90-95% of the invoice value, that can be utilized for fuel, maintenance, wages to the employees, and other operational expenses. This arrangement helps businesses bypass the delay of a few days from unloading a load to receiving their payment, so ...