Need Cash to Grow Your Trucking Business?
Trucking factoring is an outstanding solution for a truck drivers whose credit or business has suffered in the past several years. Startup trucking companies, owner-operators, and freight brokers also benefit from factoring freight bills even with less than perfect credit.
Freight Factoring with Bad Credit
Your personal and/or company credit is not a significant factor for freight factoring approval. Because your clients will be responsible for payment, factoring companies base approval on the credit of your customers. It’s okay if you’ve been turned down for bank financing. Freight factoring is an affordable and quick cash flow solution. Factoring is not a loan; therefore, there won’t be any debt to repay.
The transportation business is unpredictable. Mistakes happen. Don’t let a mediocre credit history prevent you from taking on new opportunities to grow your business. Factoring freight is a smart way to improve your financial strength and credit score while you build a successful business.
A bad credit score won’t hurt your ability to get fast cash with freight factoring. Give us a call to learn how you can quickly obtain the funding you need to grow your business.
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Freight Factoring Can Transform Poor Credit History
One of the best things about factoring freight for those with bad credit is that it can actually help improve your credit score. Oftentimes, bad credit scores happen due to lack of cash flow. By choosing factoring for trucking, you’ll always have a stable source of working capital to pay bills on-time.
Funding your trucking business is possible with bad credit or other financial problems. With transportation factoring, decisions are based on the credit strength of your customers and brokers, since they are the ones responsible for freight bill payment.
With reliable cash flow, your transportation business can meet its financial objectives without falling further into debt or worrying about loan repayment with high interest rates. Don’t let your past hardships impact your chance at a successful business. Let us match your trucking business with the best freight factoring company to get you funded – regardless of your financial past.
Bankruptcy? No credit? We Can Help!
Factoring approval widely varies from one freight factoring company to another, but many factors can fund trucking companies with financial issues. We know which freight factors can get your company funded, despite poor credit, past bankruptcies, or even tax liens (provided there is an agreement in place with the IRS). Don’t waste time and energy looking for a freight factoring company to fund your business, we’ll set you up with the right one for your financial situation.
Factoring Helps Trucking Companies Grow
Unlike business loans, the freight factoring process is short and simple. Once your application is approved, just deliver a load and send a copy (scanned or emailed) of the invoice, rate sheet, and bill of lading to the freight factor. The factor will verify and advance you the cash the very same day.
Free Credit Checks
Free credit checks are another benefit of factoring freight bills. Don’t get stuck with hauling loads for unreliable customers who can further jeopardize your business and credit score. Identify trustworthy customers to ensure you always receive payment for loads delivered.
Don’t forget about fuel discount cards that will save your trucking company big bucks on fuel costs.