Processing Request
Factoring helps your business control risk while improving cash flow. It is quite common in the trucking industry because brokers typically take 30 to 45 days to pay you after you have delivered the load. It makes your business run more smoothly right from the start by maintaining the cash flow you need to keep your wheels turning. Factoring is not a loan. There is no debt repayment or compromise to your balance sheet. Factoring is simply buying invoices from a business at a very small discount. Factoring helps your business control risk while improving cash flow. Some brokers offer what is called "Fast Pay" but you are in a weak position when you need fast pay and brokers can take advantage of that. They will offer you less to haul the load and you are in a weak negotiating position. It will also alert you if you are thinking about hauling a load for a broker whose credit is not good.
Loads Solutions recommends factoring services through TAFS - Request Information, a company with many years of experience in the factoring industry.