Freight Factoring Services – Cash flow when you need it

Freight factoring services offer trucking owner-operators, and small fleet owners access to cash flow when they need it.  Since it is not uncommon for carriers to face uncertainty when it comes to when you will receive payments from your brokers and shippers for your freight bills, by partnering with a freight factoring company you can eliminate the uncertainty and get paid immediately.

Freight factoring services give you access to cash flow when you need it by providing you with immediate payment of your freight bills. It is financing that is easier to acquire than traditional bank financing and can offer many additional benefits. The first step to getting access to the funds from your freight bills immediately is to complete a short application and submit a few supporting documents such as your Accounts Receivable Aging, Articles of Organization and Copy of Operating Authority. It typically only takes a few days to find out if your application has been approved. Once you have been approved all you need to do is deliver the loads for the approved brokers and shippers and submit a copy of the freight bill to the factoring company. You will then receive the funds, minus their fee, within hours.

Freight factoring services can also include many additional benefits that can save owner-operators and small fleet owners time and money. Benefits can vary by factoring company, and some can be more beneficial than others.  Benefits can include funds being directly deposited onto fuel cards, free credit checks on your potential brokers and shippers, fuel advances, enrollment in truckers B2B and free handling of your invoicing, processing, postage, collecting and more.

If you need access to immediate cash flow and want more information on how you can get started with freight factoring services from Tetra Capital give us a call today at (801) 676-0182.

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About Matt Moore

Matt is an expert at helping transportation companies of all sizes grow by giving them access to the working capital they need. He has over 15 years in the financial services industry with 5 years in the transportation industry. He holds an MBA from the University of Phoenix and did his Undergraduate in Economics from the University of Utah.

View all posts by Matt Moore

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