Factoring serves as an alternative technique of financing that enables business owners to sell off their accounts receivable, invoices, to third party, called the ‘factor’. For a business looking for quick financing to increase cash flow, then accounts receivable financing is a smart choice. Usually A/R financing is provided by factoring company that buys your receivables at a discount, offering you instant cash. Factoring services provide an alternative to loans for firms that want a little support with funds. Upon selling your accounts receivables to factoring company, you will obtain a part of the amount upfront and get the rest, excluding a percentage that the company gets as a fee, after the amount is collected. Not like the collection agencies, you obtain the majority of funds before the customer paid the account rather than waiting for the invoice to be paid. The factoring service exists to receive on delinquent accounts receivables so that you can use your efforts and resources for other purpose in your business.
Interstate capital is a reputed factoring company with accounts receivable specialists to offer a range of exceptional services to clients, including same day funding, automatic credit approvals, fuel advances, advance rates for up to 100%, professional collections, etc. The company has successfully served the major markets with funding, which include freight brokers, motor carriers, oilfield service, staffing service and other service businesses. Of all the services available, transportation factoring can assist trucking transportation services to spend more time keeping their trucks on road and little time waiting for the settlement of invoices. Timing is vital in the freight industry. Whether you wait at a loading dock for shipment or wait for payment from customer, the trucking specialists understand the importance of timing and ensure that you get paid in few hours of pick-up and delivery.
Freight brokers can even rely upon factoring company for on-time funding and expert support. If you associate yourself with Interstate capital, you can able to get your carriers paid directly, thus having more time to find freight and develop your company. Freight bill factoring assures you always have cash on your hand for fueling your business. Interstate freight factoring services offer competitive freight factoring solutions to assure your trucking company with working capital to take favor of all opportunities to develop your business. Constant cash flow makes it easier to receive better-paying loads, maintenance and fund repairs, buy new component, cover taxes and payroll and recruit new drivers.
Freight factoring is an easy method to resolve cash flow challenges. With freight bill factoring intended to work for unique business needs, you can able to convert your freight bill as quick cash without any hassle. Freight factoring is considered as the flexible solution for transportation industry. Fuel advances will be made available on every factored load. With funding prior to delivery, you need to have to pass up a profitable load again. You can also make use of significant discounts on all fill-up using free fuel cards for trucking.
Jim May is the author of this article on accounts receivable specialists. Find more information, about freight factoring here
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