Factoring For Freight Broker
Freight Broker Factoring
Factoring allows freight brokers to pay carriers and cover business costs immediately instead of waiting 30-60 days for getting paid. Factor purchases your unpaid bills and advance the cash within 24-48 hours so that you don’t have to worry about cash flow and focus on your business.
No Problem Of Cash Flow
Maintaining the cash flow is the major problem for the freight brokers; especially balancing income from shippers and the payments for carriers. Factoring gives relief from this type of situation by maintain good cash flow.
Easy To Get
Factoring is easy to get than any other form of financing. It is available to freight brokerages of all sizes including start-ups.
Flexible Factoring Lines
Factoring lines are flexible as they are determined by your sales volume and quality of your shippers. This factoring line can grow as increase in your sales. For your growing business this flexibility will be beneficial.
The cost of financing service is depended on the risk of your brokerage. The fee for the factoring service is determined by the quality of your invoices and your financed volume.
Freight broker factoring company pay your drivers directly on your behalf. The payment that is done for carriers is subtracted from the advance that is offered by then factoring company.
No Minimum Requirements
For start-ups brokerages, freight broker factoring is excellent as there is no minimum volume requirement.
Focus On Growth Of Business
Freight broker factoring ensures that freight brokers have enough cash on their hands for paying carriers and to cover expenses. The factoring company is managing the cash flow you don’t have to worry about it and you can focus on new opportunities and developing your business.
Benefit Of Freight Broker Factoring
Steady cash on hand to pay carriers and accept new clients.
Approval for factoring services is based on credit history of your customers.
Avoid wait periods
No tension of unpaid debts
Quick pays to carriers.
Available funding grows as per your freight brokerage
Your Title Goes Here
What Is A Factoring Line Of Credit?
The line of credit is provided which equals to the percentage of combined book of account receivables. The line can be drawn when needed and fees is applied to the funds withdrawn along with small administrative fee.
How Is Freight Factoring Cost Effective?
Freight factoring provides you the flexibility which leads to the saving of money. The flexibility provided is to avoid late penalties, fees incurred while paying with the credit card, credit card risks and to reduce the cost that is associated with accounts receivable management.
How Does Freight Factoring Works?
After the delivery is done you submit the paperwork that chow that your work is completed. This paperwork is invoice, rate confirmation and signed bill. After submitting the invoice you will receive the cash that you need within 24-48 hours. The funds are transferred to your business accounts.
What Our Clients Say?
Here are few reviews and comments from our clients.
The Financing Compass worked extensively with me to help me anticipate some of the issues that my business may face. Not many lenders would go to that length. They’ve been extremely supportive and a great resource.
Financing Compass enabled me to take advantage of an incredible opportunity to relocate and expand my business, at a pivotal time. The support I received from Financing Compass staff was priceless.
Working with Financing Compass helped me develop my business plan, ideas, and brand before getting started so that I was prepared to open a successful business when I received my loan.
Factoring process for freight brokers
Factoring helps in turning your bills to the money. We provide you with the customers information by which you can decide whom you want to keep and whom you can just avoid. You can decide from whom you will earn profit.
As third party logistics
We do understand the critical role performed by the freight brokers which brings our goods to the market. We are always there to protect the relation of shipper. We make sure that payment is done to the carriers so that your business grows well without in hurdles.
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If you are intrested in our service “Factoring for freight broker”, Contact us we will provide you with our best services