Freight Factoring

Collecting payment for your freight invoices quickly and reliably has never been more important than in today’s difficult economy. While there are numerous freight factoring companies only a select few provide safe, reliable, and immediate cash for truckers for their freight bills.  Working with the right freight factoring company, G Squared Funding, will help to ensure that you receive timely compensation and peace of mind when you undertake trucking factoring.

The Process of Freight Factoring

Freight factoring, also known as freight bill factoring, transportation factoring, trucking factoring or load factoring is a method where truckers can be paid immediately for the services they have done, regardless of when or even if the shipper pays for the delivery. The process begins by you submitting your freight bill of lading to the freight factoring company who will purchase your freight bill at a discount and then in turn collect the freight invoice from the shipper. The benefit to you is that you get paid immediately (cash for truckers via Quick Pay, check or wire) upon submitting the freight invoice as opposed to waiting 30 to 60 or more days to be paid.

Increasing Cash Flow with Freight Factoring / Load Factoring

Unfortunately, cash flow worries are common in the trucking industry.  Utilizing a freight factoring company can significantly relieve those concerns by providing immediate cash for truckers. The freight bill factoring company will take care of collecting the funds so you can focus solely on trucking.  They take on the burden of waiting and collecting payments on invoices which will no longer be your problem.

Avoiding the Pitfalls of Bank Loans / Non Recourse Freight Factoring

The biggest benefit of freight factoring is that you gain access to cash without incurring any debt.  Bank loans may be available to generate cash flow, as well, but that option comes with a cost. Utilizing bank loans to pay your receivables may prevent you from getting other loans for trucks or needed equipment. Or, you may have credit issues that limit your ability to qualify for bank loans at all.  At G Squared Funding we focus on the credit worthiness of your customers, not your own credit which is a major benefit of trucking factoring. 

Cash for Truckers and Additional Support from a Freight Factoring Company

Partnering with a freight factoring company provides a significant amount of back office support as well as we will handle the accounting, billing and collection for you.  A freight factoring company will also often take care of settlements with carriers and new account credit checks. So call G Squared Funding today for all of your freight factoring needs.