The United States is home to an enormous manufacturing complex, producing goods as varied as furniture, cars, books, computer parts, and kids’ toys. But it’s not enough to merely produce those finished goods, or foodstuffs from farms. The United States is also home to a robust transportation network for delivering freight, and many carrier companies (most of them small) deliver these goods for their shipper customers. This is a big business and employs many Americans, and some 12 million trucks, planes, freight cars, and ships are available to transport all of these goods all year round. Carriers can do a lot of work, but sometimes, they need assistance with their cash flow while waiting for an invoice payment from their shipper customers. This is where freight factoring services such as Advance Business Capital and its peers come in. They provide freight capital factoring, an essential money lending service for many small carrier companies. How might invoice advance loaning work?
Trucking factoring companies are an important part of the transportation industry, and transportation factoring companies are a way of keeping cash flow moving in America’s freight system. What is a factoring service for trucking, and what should you look for in the best trucking factoring service?
What Are Freight Factoring Services?
Factoring is a way for freight carriers to be paid more quickly for loads that they deliver. Trucking factoring companies will buy invoices for freight at a discount, which then allows the carrier to enjoy an instant cash flow. This can be a great value for carriers who are attempting to grow their business or have immediate expenses that have to be paid. Without freight bill factoring, many carriers would have to wait weeks and sometimes even months for payment to come through from certain customers.