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Freight Factoring: Getting Paid Fast

Every day, hundreds of thousands of motor carriers rely on affordable freight factoring to speed up their cash flow and expand their business. Transport factoring enables independent owner-operators and fleet owners to get an advance on their freight bill as soon as they pick up the load, with the balance paid to them as soon as the load is delivered. Top truck factoring companies – companies that specialize in freight bill factoring – have streamlined funding processes that get you paid faster than ever before.

Freight bill factoring

Instead of waiting weeks or months to get paid for delivered loads, a motor carrier can receive payment upfront from their freight factoring company. For a small fee, freight factoring companies turn your unpaid accounts receivable into cash in your pocket. Transportation factoring is a proven cash flow solution that does not incur debt. Unlike a traditional or online loan that must be paid back, truck factoring provides an advance on revenue you’ve already earned. You are not borrowing money; you are simply receiving the money you are owed more quickly.

The best truck factoring companies will have experienced factoring specialists who understand the trucking business and are ready to support your business plans. These factoring companies help you stabilize your cash flow, pay off bills, improve your credit score, purchase or lease more equipment, and hire more drivers to increase your profitability.

Trucking factoring companies

A top factoring company for trucking may also provide value-added benefits at no additional cost. Free credit checks on your customers protect you against business loss. Collections professionals take time-consuming collections chores off your plate. Trucking factoring can also bring benefits such as fuel discounts and equipment financing.

When you’re researching a freight bill factoring company, ask about their factoring company trucking benefits. Unlike a loan or an online lender that provide no business services or discounts, a leading freight bill factoring company is in the business of helping startup and established trucking businesses succeed.

Finding the right transport factoring partner

Since 2004, thousands of motor carriers have chosen Triumph Business Capital for fast funding, friendly customer service, and one of the best benefit programs in the industry. A highly respected transportation factoring company dedicated to supporting the freight industry, Triumph Business Capital customizes factoring programs for motor carriers of all sizes. Triumph Business Capital also offers tailored factoring programs to fit the needs of freight brokers that want to offer QuickPays and grow their businesses.

You can qualify regardless of your own credit history; your application is evaluated on the basis of your customers’ creditworthiness.

FreeFreightSearch.com members receive unique time- and money-saving benefits from Triumph Business Capital, including the following:

  • Fast Funding Fuel advances
  • 100% funding within 24 hours of delivery
  • 24/7 credit approvals through the client web portal, MyTriumph.
  • One-on-one account servicing
  • 24/7 on-line access to your account information
  • Professional collection service on your transportation freight bills
  • Triumph Business Capital Fuel Discount Cards that save you up to $.10 per gallon off the cash price at the pump
  • Convenient funding via ACH, wire transfer or fuel card.

Some restrictions and conditions apply. For information about freight bill factoring with Triumph Business Capital, call a freight factoring specialist today at (866) 614-6758.

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