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Some variable costs for trucking companies include fuel, tire replacement, and routine maintenance.įreight factoring companies provide fast cash to meet these expenses. Insurance premiums are also big-ticket costs of doing business for truck operators whether you set aside money monthly or annually for the bill.
FREIGHT INVOICE FACTORING DRIVER
Partnering with the right freight factoring company can help you to free up funds for fixed operating expenses such as driver salaries, equipment lease fees, and tolls. This payment arrangement is great for the shippers, but it often leaves truck operators strapped for cash when paying for operating expenses. However, freight brokers and direct shippers usually have at least 30 days to pay for the hauling service after the trucking company delivers the load to its destination.
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To stay competitive in the trucking industry, freight haulers take on loads that must be delivered within strict time constraints. Instant Source of Funds for Operating Expenses Here are some of the key benefits of freight factoring for today’s trucking companies. Freight factoring companies help trucking businesses to manage these issues while sustaining and growing their operations. As a transportation fleet manager or an owner-operator in the trucking industry, you face fluctuating operating expenses and sluggish payment cycles that can lead to funding shortfalls. Learn about key benefits of freight and load factoring for today’s trucking companies.įreight hauling is a critical component of the nation’s supply chain, but keeping trucks on the road to retail, wholesale, and other distribution sites is fraught with some unique challenges.