Trucking companies often run into funding problems that limit their growth. The problem isn't the business; it's the nature of the business. There is a major disconnect between services rendered and payment for those services. It can take up to 90 days to get paid for services you provided upfront.
We get it. You need your funds now. You need to keep your business afloat and you need to pay your drivers, to pay for fuel and to maintain your vehicles.
How will you ever expand your business? What if you need to make repairs?
You could get a loan, but that would just incur more debt. These problems can make it difficult to expand your business, or even keep your business up and running.
Fortunately, there is a solution.
Freight bill factoring can get your funds to you without the weeks-, or sometimes months-long lead times that are common in the trucking industry.
How does it work? Freight bill factoring is a form of business financing. A factoring company purchases invoices from your trucking company and collects payments from your customers. You get cash in as little as 24 hours to use for your immediate needs. No waiting for customers to pay. It’s that simple.
Think of it:
•No more valuable time wasted by chasing payments and making phone calls;
•More time to expand your client base and business;
•More cash flow to keep your trucking business on the road!
Speaking of being on the road, you don't need to wait to get back home to initiate the factoring process. You can scan and submit your freight bills online while enroute to your next destination.
Bay View Funding provides freight factoring services nationwide. Since 1985, we’ve helped businesses just like yours to understand and embrace freight factoring as a useful tool for success.