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Trucking companies are one of the most cash hungry businesses in the whole transportation industry. This business involves lots of variable expenses including driver expenses, equipment expenses and fuel expenses. It is a highly profitable business; however, businessmen must have the proper liquidity to operate with the different and involuntary business expenses. One of the toughest challenges for trucking company entrepreneur is to face freight bills that can be as long as 60 days. Usually, the owner opts for a bank to get the necessary funding amount or line of credit to overcome a financial crunch. Unluckily, banks rarely finance trucking companies since they have low business profiles and less profit outcomes. Nowadays, if you search for trucking factoring company you can see that there are many companies available that offer great deals in freight factoring services. Professionals in the industry offer freight bill factoring services to convert your slow paying freight bills into instant cash to operate easily and effectively. Trucking factoring company not only covers your ongoing business expenses, but improves your sale growth and offer flexible financing management. These companies buy your invoices and pay for them up front. Cash transactions are typically done in two installments including an advance which can be as much as 90% of the invoiced amount. The remaining 10% is held as reserve for covering dispute or charge backs. Freight invoice factoring is fee based on how long the invoice is factored for and monthly volume of factored invoices. These companies also offer discount on invoices that ranges 1.8% - 4% per month. Factoring companies buy invoices using non-recourse factoring. Under non-recourse, factoring companies bear the risk of non-payment. The biggest benefit of freight invoice factoring is that it offers peace of mind to trucking business owners. It is an ideal financial option for new and emerging trucking companies offering you the necessary funding to operate and grow your business. It stabilizes your company’s cash flow and avoids the stress of when you will get paid by your customer and suppliers. Financing receivable eliminates your entire worries of waiting for payments, so you can focus your core efforts on the growth of your company. Even small and mid size trucking and transportation companies can easily quality for factoring. However, trucking companies must do business with reputable clients or freight brokers. financial factoring companies provides you advanced funds on your freight bills, so you can manage your business expenses quickly after invoicing. Companies offer 100% funding of payroll, payroll taxes, process weekly payroll, process weekly bills and create original invoices. So, make your trucking company financially healthier with freight invoice factoring. Hi friends… If you get more information about "www.summar.com" so please check out these links: - trucking factoring company and payroll funding companies.
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