Growing a successful trucking company takes a lot of hard work and dedication. But, above all, it takes a disciplined approach to make the right decisions and take the right actions. This article helps owner-operators and small fleet owners accomplish this goal. It summarizes the seven key steps to take to grow your trucking fleet […]
How to Finance a New Trucking Company
Most truckers use financing to launch their businesses. In this article, we discuss the ways you can finance new and growing trucking carriers. We discuss: What to do first How to pay for startup costs How to finance equipment Financing operations and growth Conclusion 1. Getting started – do this first Many entrepreneurs jump into […]
What is Freight Factoring? How Does it Work?
Freight factoring, also known as freight bill factoring, is a form of business financing in the transportation industry. It helps carriers and brokers improve their cash flow by financing their invoices from slow-paying clients. Factoring provides companies with the funds to operate and grow to their full potential. We cover the following: How does freight […]
How Does Construction Factoring Help Subcontractors?
Many construction subcontractors have trouble paying employees or suppliers on time. Often, they have cash flow problems because clients pay invoices in 30 to 60 days while suppliers ask for quick payments. One way to fix this working capital problem is to use a revolving line of financing. This article explains how construction factoring can […]
What is Accounts Receivable Factoring?
Accounts receivable factoring is a type of business financing that helps companies with cash flow issues. It allows companies to finance their accounts receivable (A/R), which provides immediate funding. A/R factoring is commonly used by small and growing companies that don’t have large cash reserves. In this article, we cover: Do you provide net-30 terms […]
What is Factoring?
Summary: Factoring is a form of financing that helps companies with cash flow problems due to slow-paying clients. It allows your business to finance invoices, which improves your company’s working capital. Factoring transactions are structured as the sale of accounts receivables rather than as a business loan. Consequently, they can be set up quickly and […]
What is an Asset-Based Financing Line of Credit?
Asset-based loan (ABL) is a catch-all term for a type of financing that allows you to finance corporate assets. These assets include accounts receivable, inventory, and equipment. ABLs secured by accounts receivable work like a revolving line of credit, with some differences. This article discusses how asset-based lines of credit work and how they are […]
Invoice Factoring vs. Business Line of Credit
It’s not unusual for small and midsize businesses to experience cash flow problems from time to time. As a matter of fact, many growing companies encounter financial problems due to their fast growth. The most effective way to solve their cash flow problems is to use financing. The two most common financing solutions that help […]
Advantages of Sales Ledger Financing
Sales ledger financing is gaining traction as a financing option for mid-sized companies that are in good financial shape and are growing quickly. This solution is offered to companies that have outgrown conventional invoice factoring but are not able to meet the qualification requirements of a line of credit. Sales ledger financing offers a number of advantages to businesses, […]
Invoice Factoring vs. Sales Ledger Financing
Every company that is growing and doing well eventually experiences cash flow problems. Actually, the most common cash flow problem happens because customers pay invoices in 30 to 60 days. Companies can afford to offer terms and wait for payment – at least initially. But if your company is growing quickly, it will eventually run low on cash. […]