Freight Brokers: Factoring Your Freight Bills Will Help Your Cash Flow
You are in a profitable business, if you run a freight brokerage company. However, it can prove very challenging financially if you do not have a nice cash cushion to help pay off your drivers on time. Your clients may take anywhere from a month to two months to clear your bills. In the absence ready availability of liquid funds to take care of such payments, you may start thinking of obtaining bank finance. However, banks will require a sound past business record to provide the necessary financing. This can be a problem if you have a new business. In such a situation the best thing is to do is to avail freight broker factoring services for financing your freight bills.