Transportation Financing 101
Hi there,
According to the American Trucking Association, nearly 70% of all freight tonnage in the United States is moved on trucks. Though transportation companies deliver goods for a variety of different industries, it can be a difficult business. Cash flow is dependent on the timeliness of your customers' invoice payments, regardless of how many of your bills are stacking up.
If you own a transportation or freight business, your daily financial needs (new drivers, engine repairs, fuel, registration fees, etc.) may not be able to wait for your customer's invoice payments. This is where transportation factoring comes in as a way to level your cash flow without endangering your property.
Our new guide tackles the basics of transportation factoring, including how it works, advantages and disadvantages of the different types, and what to look for when choosing a reliable factoring company to work with.
Check out the Transportation Financing 101 guide here.
As always, never hesitate to reach out to our team with any questions about factoring and how it can help your business. Our factoring experts are happy to help.
Thank you,
Daniel Eke
Factor Funding Co.
