Trucking can be a lucrative business, but it’s not for the faint of heart. Keeping the cash flow consistent, managing profit margins, and navigating the costs of truck repairs and fuel prices can be challenging for any small business owner. If you’re a trucking-business owner and you’re contemplating trucking loans in Austell, GA, here are few reasons to consider trucking factoring.
Unlike banks, freight factoring companies are customer-service oriented and understand the ins and outs of the trucking industry. Freight factoring companies know what it takes to keep your business running and can answer all of your questions about the financial realities of managing your trucking company. Trucking factoring companies use simple, customer-friendly contracts. The terms are clear and the company can pay you up to 96 percent of the value of your invoices.
When you’re running a business, you need to keep cash on hand to ensure you’re ready to handle last minute expenses. Working with freight factoring companies in Austell, GA, allows you to keep cash accessible. You can use this money to pull you through an emergency or simply to cover payroll. When you use a bank, you have to pass through an extensive credit check that will take far more than 24 hours. Rather than relying on your credit, work with a factoring company to ensure you can always pay your bills on time.
In the trucking business, 60 to 90 day lags in payment are often the norm. Freight factoring companies understand that you can’t always wait that long in order to pay your own bills. Factoring companies know the lingo of your business and can work with you when money is tight. If you need a straightforward way to handle your trucking business’s finances, contact trucking factoring companies in Austell, GA, for a consultation. These professionals can set you up quickly and secure you the money you need to sustain your business and help it thrive.