Freight Bill Factoring: A Great Financing Option For Transportation Companies
Transportation is a very cash-flow-intensive business. The operational costs of running this business are huge. Small and medium size trucking companies find it difficult to manage the ever-increasing fuel bills, driver payments, and breakdown/repairs, lease rentals, tire purchases and salaries. However, most trucking companies are profitable, very few new and medium trucking companies can afford the waiting period of 30 to 60 days to get paid. Unless the trucking company is cash rich with deep pockets, this is an abnormally long waiting period which can affect the smooth functioning of its operations. Fortunately there is a tool trucking companies can use to get out of this rut and benefit from a steady cash flow. This tool is called Freight Bill Factoring.