Kentucky Truck Factoring Companies
When it comes to keeping trucks on the road, small-and medium-sized trucking companies in Louisville, Lexington, Bowling Green and beyond can rely on Kentucky truck factoring for their ever-changing financial needs. Aside from promoting business growth, factoring freight bills can help transportation businesses accelerate their cash flow by offering instant working capital. Instead of waiting anywhere from 30 to 60 days for payment , partner with a truck factoring company in Kentucky or anywhere in the US to boost cash flow in a fraction of the time.
Benefits of Factoring for Trucking
Factoring for trucking provides same-day funding for transportation businesses, with no hidden fees attached. By factoring freight bills, trucking companies can eliminate bad debt and reduce overall expenses. Best of all, there are no obligations to enter into a long-term contract. By taking advantage of Kentucky truck factoring, your company has the flexibility to factor only what you need, when you need it.
Factoring for trucking is a popular and effective financial tool that can be the key to increasing your cash flow. In addition to improving your cash flow, Kentucky truck factoring can help you get more done and continue to grow.
Ready to Get Started?
Fill out the form below and one of our factoring experts will help you on your way!
Advantages of Kentucky Truck Factoring
Struggling to keep up with rising fuel costs? Factoring offers many perks for trucking companies tied down by financial restraints. With the help of trucking factoring fuel cards, truckers receive fuel discounts directly at the pump. Additionally, fuel cards can be used at nearly all major fuel stops throughout the United States and Canada. Aside from reducing fuel costs, fuel cards can also be applied toward funding any other operational expenses. Fuel cards can even be used to obtain instant ATM cash withdrawals, so drivers can be paid on time.
Another perk associated with Kentucky truck factoring is the fuel advance program. In order to alleviate cash flow concerns, many transportation companies seek a factoring company that offers fuel advances. Fuel advances provide the cash to cover fuel costs and accept more lucrative loads.
Advances can be applied toward reducing fuel expenses, handling repairs, or issuing payroll. Once a load has been received by a trucker and it has been verified by a copy of the bill of lading, the factor will then submit a portion of the freight bill amount within 24 hours.
Why Choose a Kentucky Truck Factoring Company?
With skyrocketing fuel prices and rising operational costs, many trucking companies may find themselves bombarded by financial obstacles. By partnering with a Kentucky truck factoring company, transportation businesses can acquire cash at low interest rates. As a result, managers will be able to make payroll on time, every time. Furthermore, funding can be used to purchase supplies in bulk quantities, and even help trucking companies enhance their marketing strategy.
Best of all, factoring for trucking helps boost a transportation company’s credibility with its clients and employees. Extend client payment terms to compete against the larger transportation firms. With factoring, you’ll never have to turn down a load due to lack of cash flow.
There are plenty of factoring companies out there, so it’s critical to find a truck factoring company that understands the transportation industry. Don’t worry – we’ve got you covered.
