Factoring is a great tool for small and mid-size businesses. Companies across practically all industries use factoring to provide cash flow for their business. More than $2 trillion dollars was factored last year. This isn’t some small-time business loan. Factoring is a major piece of the global economy.
Over the past 10-15 years the trucking industry has faced numerous struggles with the huge increase in gas prices wiping out many of the small carriers that could no longer compete based on pricing. The majority of the independents had to give up their freedom of being self-employed and forced to work for or be bought out by the larger carriers. Now that the economy and gas prices have dropped and somewhat leveled off a bit numerous small carriers are once again reviving and jumping into the competition mix.
Freight Factoring Companies: What You Should Know!
I don’t know how many times I can reiterate this………….cash is king!
Transportation Factoring: Learn How Factoring Can Help Your Firm
Factoring is a great tool for businesses in all industries; however, the transportation industry has some unique challenges that factoring is especially good at addressing. Transportation factoring is a great way to boost your cash flow and keep your business running smoothly.