Trucking factoring can also be referred to as accounts receivable financing in the trucking industry. It makes cash available for you quickly so that you are never low on funds to pay your trucking expenses.
How does trucking factoring work?
The main benefit of working with a trucking factoring company is the fast payments of unpaid invoices. The process starts when the freight factoring company buys the accounts receivables of their client to pay them immediately once they receive the freight bills. Depending on what freight factoring company you work with, pay times may vary. Porter Freight Funding pays its clients all within 24 hours of receiving the invoices.
The process of sending freight bills is simple: