Owning a trucking company is not always an easy business. Payment usually occurs upon delivery, but the maintenance of the truck and drivers on the road costs money. The complexity of this situation increases when considering that some shippers take up to sixty days to release their payments. It seems almost impossible for your freight company to keep up with this and also grow at the same time. This is when freight invoice factoring comes as a perfect solution for your situation.
Slow payments from customers and short-payment terms from manufacturers make it difficult for freight company owners to strike a balance. This creates a cash shortage which is hard to meet. This is where we can help. At Carter Funding Corporation, we offer distributors in the US quick and flexible logistics, distribution and transportation factoring solutions. Whether you’re a perishable goods distributor, apparel or appliance distributor, at CFC, we can help you meet your urgent cash flow needs by buying your invoices/accounts receivable upfront.
Requirements for freight invoice factoring:
Even though the requirements and approval processes are by no means the same as with banks, the factor needs to assured that your client is at least likely to pay. Some of the things that any freight bill factoring companies will ask you for getting started and work together are:
- To possess all the required documentation and licenses for the case.
- To be a real carrier or freight broker.
- To have all freight bills free of liens.
- To have creditworthy and reliable clients.
For more information about our logistics and distribution factoring solutions or service assistance, get in touch with us today! We can help you overcome cash shortage immediately.