Accounts Receivable Financing And The Trucking Industry
Many owners of trucking companies often face a very tricky situation. They will have clients who do not pay their invoice before the credit period of 30 to 60 days, while at the same time being in constant need of finance to pay off different expenses. Truck driver's wages, fuel, and maintenance expenses are areas of immediate financial requirements. Lack of timely payments mean a lack of cash for immediate expenses. Banks may not be able to give quick loans for different reasons. So how do companies meet these expenses? The solution lies in the accounts receivable finance that factoring companies and other financial institutions are ready to provide.