In these changing economic times, it is essential to collect on your freight bills fast and truckers cannot wait for weeks or months to collect on their loads. That’s why Freight Factoring works for owner-operators and small-to-mid-sized trucking companies to help them deal with operating costs and/or unexpected cash shortages.
Between rising fuel prices, repairs, tolls, taxes, payroll and other expenses, steady cash flow is necessary. Also, slow paying customers drain your working capital and make it tough to accept new loads if you don’t have enough cash on hand to pay for fuel, etc.
Turn to a Freight Factoring company, like Eagle Business Credit with their specialist trucking division Cashway Funding for help. Freight Factoring offers trucking companies many benefits. These include a quicker source of money without alienating customers, no credit check, as well as the ability to cover, fuel, insurance costs, payroll or any other outstanding debt.
Have Cash Faster With Freight Factoring!
Freight Factoring is selling your freight bills to factoring company at a discount. Then, you receive over 95% of your invoice value within a few hours. Cashway Funding pays you onto a fuel card, ACH, or even a Visa debit card. As your factoring company, we then take over collecting on those unpaid invoices for you. If you choose one of our non-recourse facilities, you have further credit protection. You will also have the peace of mind of knowing you will not be hit with any bad debts. Non-recourse factoring protects you if your customer does not pay. We pay you in hours instead of weeks or months, and you do not have to go through the collections process yourself!
More Flexible Than Loans, Lines of Credit or Fuel Cards!
Since you’re selling your accounts receivable to a factoring company, this type of financing is not considered a loan. A loan takes quite a bit of time, paperwork, and hassle to secure. Further, loans are only really a short-term solution to money flow issues. With Freight Bill Factoring from Eagle Business Credit you can apply in minutes and be approved in hours. We pay you the same day you deliver a load. You can also factor your accounts for an ongoing period. This means you have a more steady revenue stream than a one-time loan!
With Freight Factoring you collect your money for hauling loads instantly, and you let someone else worry about collecting on your accounts receivable.
Discover more about customizing a factoring solution for your transportation company with Eagle Business Credit, by contacting us today!