What is Trucking Factoring?
Trucking Factoring Definition
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What's trucking factoring? Trucking and transportation companies, including startup carriers, use trucking factoring, also known as freight factoring, as a specific funding option to manage their cash flow when extending 30- to 90-day credit terms to their customers.
It can help eliminate the strains on cash flow caused by aged freight bills and unpaid invoices.
Extending credit is part of doing business for carriers to remain competitive. The carrier will no longer have to worry about waiting 30 to 90 days for their customers to pay; they will have the funds in their account shortly after invoicing their customer, regardless of the credit terms on the invoice.
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