When you are running a small trucking company, you face your own unique sets of challenges when compared to a major corporation. Operating a small business requires constant adaptability to what lies ahead and the ability to navigate obstacles as they arise. One area that can be particularly challenging when your business is small is financing. For many small businesses, accessing capital is difficult and cash flow can be a constant struggle.
In this case, it is worth considering the utilization of invoice factoring for your company. Here at Financial Carrier Services, we offer freight factoring options that allow young or small businesses access to a cash flow solution. Check out the following ways your small business can benefit from factoring and contact our team to learn more about this unique financing solution.
When you are operating a small trucking company, a big issue can be created by waiting on invoices to be paid. What do you do during the 30 to 90 days it takes for you to get paid? Due to the length of time that occurs between work done and the payment of invoices, your small business can face issues with cash flow. Whether it is just you working solo or you have a small team, the reality is that you need money for day-to-day operations and payroll.
Invoice factoring allows you to turn over those unpaid invoices to our team. We give you money immediately, allowing you to utilize these funds right away.
#2: Less Burden On You
Not only will you receive payment right away when you utilize freight factoring, but you will take a large amount of work off your plate. By handing over your invoices to our team, you can focus on running your small business, rather than on collecting payments. We will handle the process of receiving payment on invoices and you can utilize your immediate cash flow to continue operations.
#3: An Ability To Grow
Perhaps you are hoping to grow your small trucking company. Without the right amount of working capital, this is an impossibility. After all, increasing your operations will mean incurring a slew of new costs and new employees will need a steady paycheck.
Freight factoring will make it possible for you to grow your business. You can use these newly acquired funds to hire more team members, improve current operations, and ensure that you are not falling behind on any important payments.
#4: A Personalized Solution
Finally, when you work with Financial Carrier Services to acquire freight factoring, you will receive a personalized solution. We never treat our customers as a one-size-fits-all. Rather, we take the time to understand your specific needs and how factoring can best benefit you. We will endeavor to find you the right financing solution to empower your small business to move forward.
If you are interested in learning more about how freight factoring can benefit your small business, we invite you to reach out to our team today. We look forward to helping you access the financing solutions you need to fuel your trucking company into the future.