(For immediate release) Miami, Florida – Commercial Capital LLC recently announced the launch of its new freight broker factoring program. The program helps freight brokers with their cash flow by eliminating the 30- to 60-day waiting period associated with most freight bills (or invoices).
Waiting up to 60 days to get freight bills paid is a major headache for freight brokers, as they often need to dip into their cash reserves (or personal savings) to meet business expenses while they await payment. Paying truckers, one of the broker’s most important expenses, can become difficult if brokers have to wait 60 days to get paid. Freight broker factoring can easily solve this problem.
Freight broker factoring, a specialized form of invoice factoring, enables freight brokers to get paid for their invoices in as little as one day. The program works by selling the invoices at a small discount to the freight factoring company, who pays for the freight bills in cash. The result is that the freight broker gets the necessary funds to run its business without having to wait 30 or 60 days to get paid.
“Transportation factoring is an ideal product for freight brokers,” said Marco Terry, president of Commercial Capital LLC. “It provides them with the cash to run their businesses and, more importantly, to pay their truckers,” he added.
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