Receivables Factoring
What is Receivables Factoring?
Very simply, it is the practice of selling your invoices at a discount in exchange for immediate cash. It’s easier to obtain than a bank loan and provides immediate access to cash, usually within 24 hours. Factoring invoices to access immediate operating capital is a common business strategy and one of the fastest growing financial services in a rapidly changing global market.
More businesses fail due to lack of working capital and cash flow than for any other reason. Profits are often tied up in accounts receivable and inventory. Factoring is a simple, effective way of keeping your cash flowing by providing up to a 95% advance on the money owed to you by your customers.
Read MoreUnderstanding Fuel Economy
The importance of fuel economy to the successful operation of a trucking company cannot be understated. Fuel is one of the largest variable costs in a trucking venture, and, while no trucking operation can control the cost of fuel, it has at least some control over the amount or rate of consumption.
