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Archive for August 30th, 2019

Understanding How Freight Factoring Services Work

Nearly 12 million trucks, rail cars, locomotives, and vessels move goods over the transportation network. All of these translates to invoices at the end of the delivery which takes about 90 days to be paid. While some trucking companies are patient enough to wait for the invoice to mature, others are considering keeping their cash flow constant.

This means quickly converting those invoices into immediate cash to meet regular demands such as fuel, tires and general truck maintenance. And this is what is referred to as invoice factoring. It is a type of accounts receivable financing that converts outstanding invoices due within 90 days into immediate cash for your small business.

Load factoring companies help small businesses bridge invoice payment gaps with upfront payments up to 90% of the amount in cash within a few days. For a trucking operator, it’s vital to find the best invoice factoring company that gives you access to reliable cash flow needed for business operations.

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