Running a fleet of trucks is no small task, and sometimes you need a little extra fuel to keep your trucks on the road. Instead of pulling out a loan, you should consider trucking factoring from AmeriFactors.
What is Factoring
When you are operating a small business, you have a section known as accounts receivable. This is a section of capital that you expect to be receiving in the next few weeks to months. When you go to a financial institution, such as AmeriFactors, with these accounts, we can pay for the accounts receivables up front (with a small service charge taken from the total amount of the accounts) and give you the money upfront.
Trucking Factoring takes the same concept except instead of accounts receivables it’s your freight bills or shipping invoices. You take your incoming freight bills and bring them to us, we assess their value and pay up to the total amount of the freight bills. So that by the end of it, you are simply receiving your money early as opposed to borrowing money from anyone.
What are the benefits of Trucking Factoring?
No Slowing Down – When you are operating a fleet you are managing people and product. If you cut off either of these parts of your business, you are slowing down profit. Factoring is a great tool to utilize and ensure your company is running in tip top shape.
No Debt – Factoring are not loans, they are cash advances. That means that you are simply receiving the money you are already owed in advance. The financial institution then claims the invoices as their owns and makes money back by claiming it from the client.
No Long Term Commitments – When you factor, you are not signing any long term contracts or applying for interest rates. It is a very cut and dry procedure, which is why it is becoming one of the most popular forms of small business capital in the industry.
AmeriFactors has been servicing Central Florida for several years. We always put the customer first and have no problem walking through the process in more details. If you would like to know more about our alternative funding options for your small business or more about our trucking factoring business, give us a call today at 1 (800) 884-3863.