Toll Free: 1 (800) 207-7661 | Fax: (405) 528-4493 3909 N. Classen Blvd. | Oklahoma City, OK 73118
What Is Factoring?
What Is Factoring?
Businesses that thrive on money up front, like trucking companies, can benefit greatly from truck factoring services. With a factoring company on your side, you can receive the money that your clients owe you for your services when they have not yet paid.
In many ways, factoring can help keep your business afloat when money is tight and you need to collect fees from your clients right away. If your trucking company is in need of a reliable factoring company, contact the truck factoring specialists of TBS Factoring Service, LLC, today at 800-207-7661.
How Factoring Works
When you have clients, you will have to bill them for the services you provide. Typically, businesses send out these invoices after they have completed the services, so the time between performing the service and receiving payment could be several weeks or even longer. This lag time can cripple a business, especially when clients fail to submit their payments promptly.
A trucking company’s simplest relationship with a truck factoring company can be understood as follows:
- The trucking company sells its unpaid invoices to a truck factoring service
- The truck factoring service will pay most of the face value of the invoices to the trucking company
- The trucking company will receive payment with 24-48 hours in most instances
Let us help you to ensure that you have the funds necessary to keep your company running strong so that you can continue to provide timely and professional service to your clients.
Contact Us
If your trucking business could benefit from the services of a factoring company, contact the truck factoring specialists of TBS Factoring Service, LLC, at 800-207-7661 today to learn more about how we can help you.
