Will a service like this address my problems?.If you’re trying to decide if you’re in need of a freight factoring service, here are a few things to keep in mind: For larger trucking outfits, a freight factoring service can essentially act as their accounts receivable or frees up cash on outstanding invoices. This allows you to expand quickly, and grow as a business. For smaller operations, a service like this helps you get paid immediately, allowing you to take on more work. With freight factoring, you’ll be able to cover operational costs and help your trucking business grow faster.Īll trucking companies can benefit from using a freight factoring service. Whether you’re an independent owner-operator or manage a smaller fleet, you can get more capital to keep your rig rolling.
#Trucking invoice factoring drivers#
A percentage of the invoice is taken as a fee, but you still get the cash you need when you need it the most.įreight factoring is great for truck drivers and companies alike. Rather than waiting 30-90 days to get paid on your invoice, the factoring company pays you immediately for the work you’ve already done. Freight factoring is the process of selling your existing invoices to a third-party, like Financial Carrier Services. Freight factoring is an easy way to address your cash flow issues quickly. In some cases, clients have up to 90 days to pay their invoice which can leave truckers feeling strapped for cash.ĭon’t feel panicked about how you’ll pay for your drivers, fuel, tires, and repairs. The source of these cash flow issues largely stems from the invoicing system that many businesses use to request money from their clients. When cash is tight, running another load of freight can be nerve-wracking. Nearly every trucking company out on the road today has experienced cash flow issues of one kind or another. No matter what you call it, the end result is still the same - you get paid for your work sooner. Click the button or fill out the form below.When you’re first researching freight factoring, you might find it under numerous names, including transportation factoring, trucking factoring, or invoice factoring. Ready to build your business? Now you can by signing up for our factoring services. We also provide back-office support that runs more like a partnership with your success, an essential part of our success. When trucking businesses look for alternative cash flow sources to keep their business growing, freight invoice factoring offers a structured, fast invoice payout.
#Trucking invoice factoring full#
Single Point Capital provides full back office logistics support, including collections, load management, fuel, and other logistical services. Additionally, for a low interest rate, Single Point will provide same-day payments on invoices. All in all, low-cost freight factoring offers the fastest method of getting working cash flow. Single Point Capital prides itself on providing a wide range of services that helps its partner companies succeed. In addition, we constantly work to make our services as convenient for our clients as possible. Same Day Funding – We offer a fast and easy setup process with multiple funding options such as ACH, wire transfer, Comcheck, and fuel card. Personal Service – Personal account executives manage all factoring needs providing consistency and continuity in the customer experience.įree Credit Checks – Quick and thorough online system available for 24/7 access via an online portal that is continually updated with the latest business profile The company is sensitive to customers’ business relationships and works with these parties to ensure issues are resolved respectfully without recourse to an invoice.Ĭustomized Rates – Competitive rates, no hidden fees, and scalable funding solutions that grow as clients’ businesses grow rates are customizable based on creditworthiness, size, and organization.
Invoice Factoring allows trucking companies to get same-day funding on qualified invoices for the loads they haul. Single Point Capital is one of the top invoice factoring companies in the Houston area, with partners across the United States with some of the best rates for freight invoices. Because of this, invoice factoring is a great solution to create a more reliable source of revenue. Therefore, many trucking businesses look for ways to keep their cash flow fast and predictable. The trucking industry is a fast-paced business constantly changing with innovation and regulation.
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