Skip to content

Tag: how does truck factoring work

Published on Leave a comment on Truck Factoring Orlando is the Lifeline to Trucking Businesses

The roller-coaster ride of running a trucking firm is full of highs and lows. Your wheels never stop turning as you try to track down invoices. You can smooth out your journey with truck factoring. On Orlando truck factoring you can learn more.

Imagine that you delivered a truck across state lines and are now waiting 30-60 or even 90-days to be paid. You're watching the paint dry and your bills piling up. In Orlando, truck factoring can be a real game changer for the trucking industry.

Why is truck financing so popular? You can do it pretty easily. Factoring companies will purchase your unpaid bills at a significant discount. They provide you with immediate cash, typically within 24 hour. The cash is given to you immediately, usually within 24 hours.

Joe, a business owner from Orlando was overwhelmed by unpaid bills. Joe's trucks were sitting idle because he was unable to afford the upfront costs of fuel and maintenance. Joe used truck factoring to get the funds he desperately needed to keep the trucks running and the business going.

What's the deal with turkey? To begin with, you should find an experienced factoring agency that understands the trucking market. Do not hire someone that thinks a truck's axle is merely a part of the math. When you find the correct people, then submit your invoices. You'll need to submit your invoices for approval. They will check your clients' (not your) creditworthiness.

The majority of the amount will be advanced to you once approved - typically between 80-90%. The remaining balance, minus the fee is returned to you when your client has paid up. Simple as pie!

Now, hold on. There are differences between factoring companies. There are some that charge hidden costs or lock you in to long-term agreements with a security tighter than Fort Knox. Do not sign anything without reading the fine prints. Nothing is more disappointing than realizing there's been no coffee left.

You can save money and time by using truck factoring. Imagine not needing to deal with rude clients that dodge your calls faster than Neo did in The Matrix! Allow professionals to handle your payments so you don't waste time chasing them down rabbit-holes.

Do you know that time is money? Factoring for trucks gives you the best of both worlds! Instant advances will improve your cash flow, and the outsourced collections can free up hours of valuable time.

And there is more. Other factors include fuel cards offering discounts in major truckstops nationwide - a lifesaver when diesel costs are surging faster than the fireworks of July 4th.

This is probably the point where you think "this seems too good!" The truck factoring fee is a price that varies according to factors including the volume of monthly invoices and risk levels. But compared with potential benefits, it's a bargain!

So whether small fleet owner struggling meet ends meet--or seasoned veteran looking streamline operations--invoicing woes behind once embrace power-truck-factoring-Orlando-style-baby!

Published on Leave a comment on For truckers, Charlotte Truck Factoring is your best friend

Truckers in Charlotte, listen up! If you've ever found yourself with a tight cash flow while waiting for your customers to pay, truck factoring could be the answer. Then truck factoring may be just the ticket to help you out of this financial mess. Imagine hauling a load over state borders, only to be stuck in limbo for 30-60-90 days. The factoring process can help you out. You can see Charlotte truck factoring on our website.

Imagine you're sitting on a mountain of unpaid invoices that is taller then your rig. Instead of fiddling with your fingers and watching time tick by, you could sell the invoices to an factoring company. They pay you upfront--usually in 24 hours. Like turning water into a wine!

Why is factoring important to Charlotte's truckers? What is factoring?

Cash flow will be our first topic. What's that saying, "money is the fuel of life"? You can keep your own wheels going with factoring. Factoring can provide you with funds to cover your fuel expenses, maintenance costs and payroll.

You've probably dealt with late payments. What a pain! A factoring firm will handle this burden on your behalf. You can concentrate on what you are best at, driving and delivering.

You don't need to be concerned about your credit being affected. In most cases, factoring companies care more about the creditworthiness and reputation of your clients rather than their own. No big deal if your credit rating isn’t perfect.

Flexible spending is important. Do you need some extra cash for an urgent repair? Your factoring needs are met. Factoring has the flexibility of a yoga instructor in the morning.

The first thing you may think: "Wow, that sounds amazing!" You might be wondering: "Sounds great! Although factoring comes with fees, which are typically a small percent of the invoice amount, think of this as paying to have peace-of-mind and smooth operations.

Joe was a local driver who had to deal with clients that were late in paying their bills. A month later, an engine malfunction cost him thousands. He sought factoring for fast money to repair the engine of his truck without losing any sleep or missing deliveries.

Charlotte's trucking business is competitive and time-sensitive. In this environment, each minute matters--and every dollar too! With truck factoring, tailored services for haulers just like Joe and you (or maybe yourself), you don't simply survive; you thrive!

What's the harm in a little humour? Imagine explaining truck factoring at Thanksgiving dinner:

Aunt Mildred, "So what's your plan again?"
The invoices you sell are:
Aunt Mildred: "Like...garage sale style?"
You: "Sorta...but, I get paid more quickly than Uncle Bob consumes pumpkin pie."

But seriously, folks! It isn't rocket surgery. Factoring is just smart business strategy neatly wrapped into financial strategy. This will be perfect for the hardworking drivers that clog up highways & back roads day in and day out.

Don't get too confused the next time someone brings up 'truck financing'. That could very well mean that YOUR golden goose is laying your much needed golden eggs just when you need them most.

This is a gem to keep in mind: Success doesn't always come by chance. Sometimes it requires knowing what tools will get you rolling smoothly on the life's winding highways without hiccups and holdups!