Is Freight Factoring Safe for New Trucking Businesses?
Freight factoring is a financial service that changes unpaid invoices into instant cash. You sell said invoices to a factoring company instead of having to wait 30, 60, or even 90 days before brokers or the shippers pay up. They finance you 85 percent to 95 percent of the invoice within 24 to 48 hours. The balance is freed to you immediately after the customer makes a payment, but at a low fee. Freight factoring is no magic bullet, but it is a potent tool in the hands of the wise.
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