Accounts Receivable Cash offers freight factoring programs for the transportation industry to ensure you’ll always have cash on hand. Steady cash flow is a requirement when looking to grow your trucking business. Reliable cash flow makes it easy to accept better paying loads, fund repairs and maintenance, purchase new equipment, cover payroll and taxes and hire new drivers. Factoring freight bills is a fast and simple way to battle cash flow challenges. Freight factoring helps truckers increase working capital when shippers are slow to pay.
How Does Transportation Factoring Work?
Factoring works by selling freight bills at a discount to receive immediate cash. ARC’s freight factoring services are designed with small trucking companies in mind. Owner-operators can factor freight bills with no monthly minimum and no long term-contract requirements. Steady cash flow is available to all owner-operators, no matter your size. ARC also offers freight financing for start-up trucking companies.
It’s quick and easy to submit an application for trucking factoring today. All you need is the application, your articles of incorporation, copies of the invoices you wish to factor and your current customer list. You can be approved in as little as 3 business days and funded within 24 hours after approval. Once you are approved and your invoice funds are released to you, the transportation factor will contact your debtors and notify them of the factoring process and let them know to pay the factor directly. You are able to factor as much or as little as you would like.
Bad Credit? Accounts Receivable Factoring Can Help Fund Your Trucking Company
Not to worry, when applying for accounts receivable financing it’s your shipper’s credit that matters, not your own. Factoring transportation receivables can help grow your business by providing the necessary cash flow to cover payroll and other expenses so you can take on new opportunities. Owner operators factor their transportation receivables to cover payroll, take on new projects, purchase new equipment and hire new drivers, the possibilities are endless. Freight factoring can improve your credit by giving you the working capital to pay down existing debt.