Bay View Funding Blog

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

Today's economy makes it even more difficult for a business to get bank loans and other traditional sources of funding. The result is a high demand for business financing with many businesses losing out on growth opportunities due to the lack of working capital financing. However, businesses that need immediate financing do have options, factoring being chief among them. Below is a look at factoring and its benefits for freight businesses, especially during the holidays.

If you are a fleet trucking company or owner/operator, you may be very familiar with having to find creative ways to manage your cashflow while waiting for your customers to pay their invoices. You could be waiting for 30, 60…even 90 days for your customers to pay. Meanwhile, you have bills and/or employees to pay. Because of this float time, you may find yourself overextended and having to rely on credit cards or facilities from the bank to keep your operation afloat. However, there is another option to consider.