Truck Factoring with EZ Invoice Factoring
What is Freight Factoring?
Freight factoring is a financial transaction that allows trucking companies to convert their outstanding invoices into immediate cash. This process involves selling the invoices to a factoring company, which then collects payment from the customers. Freight factoring is a widely accepted method in the trucking industry, providing a solution to manage cash flow and maintain steady operations.
Freight factoring companies bridge the gap between delivery and payment, aiding in maintaining cash flow for ongoing business needs. By using freight factoring, trucking companies can receive quick and affordable cash, eliminating the hassle of trying to collect from customers on their own. This financial solution is particularly beneficial for owner-operators and small to medium-sized trucking companies that need to cover regular overhead expenses.
How Does a Factoring Company Work for Truckers?
A factoring company plays a crucial role in the trucking industry by providing financial solutions to trucking companies. The process of working with a factoring company involves the following steps:
- The trucking company delivers a load and submits the invoice to the factoring company.
- The factoring company verifies the invoice and advances a percentage of the invoice value to the trucking company.
- The factoring company collects payment from the customer.
- Once the payment is received, the factoring company pays the remaining balance to the trucking company, minus a small fee.
Factoring companies exist to close the gap between delivering a load and getting paid. They eliminate the uncertainty of when a freight broker or shipper will pay, allowing trucking companies to focus on their core business. By using a factoring company, truckers can receive nearly, if not all, the total earnings of the load within a few days.
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Truck factoring for business growth
Truck factoring enables trucking companies and owner-operators to utilize the funds tied up in accounts receivable. Instead of waiting 30 to 90 days to collect on invoices for services completed, you an immediately access the funds you have earned. Trucking operator-owners nationwide use factoring to:
- Gain control over their cash flow
- Refocus their efforts onto business growth and development
- Pay bills on time
EZ Invoice Factoring provides full accounts receivable management services, allowing your staff members to focus on customer service, marketing, and research and development.
Truck factoring increases cash flow so trucking companies and owner-operators are able to:
- Increase the number of routes per month
- Take on jobs with better paying loads
- Hire additional staff members
Flexible Truck Factoring Options
EZ Invoice Factoring works with transportation carriers of all sizes – from one truck owner-operators to large fleets. As experts in the trucking industry, we are committed to your success. We offer flexible truck factoring services including recourse factoring, non-recourse factoring and spot factoring options. Factor only the trucking invoices you want with no long term contracts.
Competitive Truck Factoring Rates
Partner with a truck factoring company that offers the highest advance rates and lowest fees in the industry. Contact EZ Invoice Factoring for a free quote and get the high advance rates you want with low truck factoring rates. Get a quote now!
Contact us now to begin the truck factoring process today!
Truck factoring yields benefits and services beyond cash
EZ Invoice’s truck factoring programs are completely customizable based on the needs of your trucking operation. We allow you to choose the number of invoices you would like to factor each month. Enjoy the benefits and services of working with EZ Invoice Factoring including:
- No long-term contracts
- No minimum truck invoice amounts
- Access to your online truck factoring account 24/7
- Service from a designated truck factoring specialist
- Fuel cards and discounts for truckers
- Fuel advance program
EZ Invoice Factoring offers top-notch truck factoring services to make it easier than ever to boost your business. Truck owner-operators who factor trucking invoices grow at faster rates than those who wait to be paid over 30, 60 or 90 days.
Partner with one of the best truck factoring companies in the nation. Call EZ Invoice Factoring at 1-855-FACTOR-1 and unlock your business growth and potential!
