If you’re a trucker, chances are you’ve heard of factoring already. It’s been around for centuries, long before trucking was even thought of. If you don’t know what it is, hopefully this will give you a little more insight.
Truck factoring, if you don’t know what it is, works to get you paid immediately. Truck companies utilize invoice factoring when there isn’t enough cash on hand to cover expenses which typically occurs due to slow-paying customers. A factoring company will purchase your open bills of lading and advance the cash to you against them, allowing you to cover your expenses. This way, even if your customer takes 30, 60, 90 or more days to pay, you’ll get paid when the job is complete.
The process to getting in on truck factoring is simple. Financial Carrier Services has made it simple to factor while you’re on the road. You can even upload your documents and invoices directly through our website!
Want to go for it? Great! It’s as simple as giving us a call or chatting with us online. The cool part is that even if you’re just starting or have little, no, or bad credit, you can still use our factoring services!
Are your ready to factor and grow your business? Let’s get started today!
But wait – is there is a difference in factoring and financing? To answer simply, yes. And because of that, FCS offers financing for not just tractors and trailers, but tires, tags, and more. We even offer industry-leading warranties.