Most small business owners do not have the necessary working capital to grow and prosper in times when business partners extend invoice payment as the economy slows. A financial tool known as factoring, the purchase of accounts receivable invoices at a discount at or near the time of invoice creation, may reduce the cash flow problems.
Factoring can provide you with immediate cash to operate your growing business with cash advances of 70% - 95% of the invoice. Who factors?
- Start-up trucking companies with growth potential who cannot access the capital markets from conventional banking sources;
- Transportation companies who may have had bank lines reduced or eliminated that need to maintain cash flow; or
- Transportation companies with an opportunity to grow quickly (i.e. acquisition).
Our factoring company partnership will help your business control risk and improve cash flow with a full service accounts receivable financing and credit management. Generally, a term-sheet is prepared outlining the individual requirements within 24 hours after submitting a completed application. Once approved, your account may be funded within 3-6 days of receiving your first batch of invoices.