Freight Factoring
Express Freight Finance provides workings capital solutions, such as freight bill factoring, to independent owner operators, large fleets, and everyone in between. Our freight bill factoring services offer benefits such as:
• Improved cash flow
• Cash delivered to your account within 24 hours
• Zero debt
• Non-recourse financing
• Online account tools available to divers and fleet owners 24/7/365
• No payment schedules
• No need for collections
• Free credit checks on your customers
• Financing that grows with your business
Freight Bill Factoring From Express Freight Finance
Freight bill factoring allows truckers and fleet owners to do away with staggered payment schedules. Invoices with payment windows of 30 days or longer can place a big strain on finances. Our program for freight bill factoring converts invoices to cash within 24 hours, which eliminates the need for payment schedules. Instead of waiting for revenue to come in a little bit at a time, or devoting resources to tracking payments across multiple accounts, Express Freight Finance streamlines your accounting process. Unsettled customer accounts become a thing of the past, and truckers can stay flush with working capital.
How Freight Bill Factoring Works
For the longest time, the trucking industry has placed customers on payment schedules of 30 days or longer. The drawback is that the staggered payments mean drivers and fleet owners have to constantly reconfigure their logistics. Can fleets pay their drivers? Are there enough funds to cover fuel and lodging expenses? Will growth milestones be reached, or will operations have to be put on hold? With freight bill factoring, drivers can submit BoLs via fax or email after a delivery. Express Freight Finance will place a call to confirm the shipment, and then we will begin converting the invoices to cash and moving fund into your account. There is no reason to wait on getting capital you are owed.
Collections Are Unnecessary
When customer invoices remain unpaid and become delinquent, the traditional course of action is to employ collection services. Unfortunately, collections add up to 45 days onto the payment schedule from the time the invoices are submitted. A 30 day payment period can turn into a 95 day payment period, which can tighten cash flow even further, especially when there are multiple invoices going to collections. Freight bill factoring converts invoices, whether they are newly created or from your backlog of unsettled customer accounts, to cash within 24 hours. This completely eliminates the need to use collection services ever again.
Freight Bill Factoring Is Debt-Free
Freight bill factoring is not a loan. Express Freight Finance specializes in working capital solutions for the trucking industry which are based on converting receivable to cash, not saddling drivers and fleets with debt and impacted credit. We offer easy and simple freight bill factoring without the red tape and restrictions of back loans or cash advances.
Get The Best Freight Bill Factoring In The Country
Express Freight Finance is committed to providing the best freight bill factoring. As a company owned and run by people who have worked extensively in the trucking industry, we are constantly looking for ways to make things easier for drivers and fleet owners. Contact us today to learn more about freight bill factoring.