Texas Truck Factoring Companies
Whether you’re a small or mid-sized trucking company in Dallas or any other major metropolitan area, Texas truck factoring can help your transportation company grow by hauling more loads and increasing overall revenue. As the economy continues to recover, your trucking company is bound to face many hurdles when it comes to keeping up with rising fuel costs and miscellaneous operational expenses. That’s where truck factoring companies help the Texas transportation industry.
Benefits of Texas Factoring For Trucking
The benefits associated with factoring for trucking don’t stop there. With speedy approval times that usually occur in less than a week, initiating the trucking factoring process has never been simpler. Best of all, your transportation company will quickly receive working capital that can be used to fuel growth and take on additional business. With no bad debt or credit checks to worry about, trucking companies can easily improve their financial condition while adding profit to their bottom line.
Factoring for trucking is the smart solution for business funding and cash advances.
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Advantages of Truck Factoring
In addition to accelerating company cash flow, Texas truck factoring services provide many other benefits to transportation companies. One of the added perks associated with Texas truck factoring involves the use of fuel cards. Truck factoring fuel cards help drivers save thousands of dollars each year by offering generous fuel discounts directly at the pump.
Aside from saving transportation companies plenty of cash, fuel cards can also be used to fund essential day-to-day expenses. Additionally, fuel cards can be used to obtain immediate ATM cash withdrawals, which can then be used to pay drivers or take care of miscellaneous operational costs and repairs.
Lastly, transportation companies can benefit from truck factoring fuel advances. Fuel advances enable owner-operators and trucking companies to receive a portion of the freight bill (between 40% – 50%) upon load pickup. Once the fuel advance is received, it can be applied toward fuel expenses, payroll, repairs, and any other operational costs. After a load has been picked up by a trucker, the supplier will provide verification through a bill of lading. Shortly thereafter, the factoring company will transmit part of the freight bill amount within 24-48 hours.
Why Choose a Truck Factorng Company in Texas
Struggling with company cash flow? By partnering with a Texas truck factoring company, transportation companies can quickly boost cash flow while substantially growing their business. Rather than acquiring a loan from a bank, Texas trucking factoring will help your transportation company acquire fast cash without worrying about incurring any debt.
Furthermore, even if your own financial history is less than impressive, you can still qualify to factor invoices with a Texas factoring company. Factoring approval is solely dependent on your customers’ creditworthiness. Therefore, your trucking company can focus more on fueling expansion without worrying about when customers will issue payments on pending invoices.
