As we’ve said before, transportation factoring is a sound business strategy for carriers of all types and sizes. It all but eliminates the collections process and shortens the timeframe between delivery and payment to 24 hours. That’s a heck of a lot better than the typical payday waiting period of 30, 45 or even 90 days.
Our clients who are new to factoring are often amazed at how quickly and easily they are able to get paid when they factor with Foley. For years, some have struggled to keep up with their bills and wasted countless hours collecting from slow-paying customers.
With Foley’s transportation factoring service, carriers get paid immediately for the loads they haul while the Foley factoring team deals with the hassle of invoicing and collecting money. Here are Foley’s three easy steps to a faster payday:
- Deliver the Load. Your work is over once the load is delivered.
- Send Foley Your Invoice. We’ll take over invoicing and collections, leaving you more time to deliver more loads and earn more money.
- We Send Your Cash. Our flexible factoring service delivers your funds within 24 hours. This gives you the opportunity to put your money to work where it is most needed. Payment options include Foley Fuel Card, ACH or Tcheck.
To learn more about how you can benefit from factoring, visit the Foley Carrier Services website, call 888-873-FAST, or view our previous posts on the subject:
- Ready to Try Freight Factoring? Here are Five Key Terms that will Pop Up in Negotiations, Contracts
- Five Tips to Help You Find the Right Factoring Company
- The Pros and Cons of Recourse Factoring
- Would You Rather Get Paid in 45 Days or 24 Hours?
- Five Reasons Why Transportation Factoring Beats a Traditional Loan
Tagged factor, freight factoring, invoice, Transportation Factoring, truck factoring
Michael HatcherMay 14, 2012 at 4:28 pm
Referred to your company from a friend of mine…looking to get information for my auto transport company