What is Factoring?

Factoring is a service that allows you to get paid immediately for the loads you haul. You sell your invoices to Foley and we take care of the hassle of invoicing and collecting money — no matter how slow or difficult the process. This enables you to keep rolling, pay your bills timely, grow your company, and have less stress about cash flow.

We purchase your receivables and fund you your hard-earned money immediately while we handle the collections. Many transportation providers rely on freight factoring because even in good economic times they cannot afford for their invoices to go unpaid for 30 to 45 days or more, and even more so in poor economies as payables to trucks can stretch past 60 days!

Cash Flow

By selling your receivables to Foley Carrier Services, your cash flow worries are significantly decreased. You have the cash you need for the work you did, ensuring you meet the immediate financial demands of your business, while we worry about collecting the funds. If a repair or emergency happens, we are there to help so you don’t have to sit while you wait for money to come in.

More Valuable than Bank Loans

Freight bill factoring allows you to get cash without creating any debt. While you could secure a bank loan instead of factoring, there are significant and important differences between factoring and bank loans. Obtaining a bank loan to fund your receivables may prohibit you from getting more loans for trucks, repairs, fuel cards, or other necessary equipment. Credit problems could also prevent you or your company from qualifying for bank loans entirely. With freight factoring, our decision to provide you with money is based on the credit worthiness of the freight customers you work with, not your credit. Also, with a bank loan your company is on its own; the bank will not help with billing, collections, posting checks, carrier settlements and credit checks on new accounts. Foley Carrier Services provides all of these services for you at no extra charge.

Why Foley Carrier Services?

You know that a steady and predictable cash flow is crucial to the profitability and success and of your business. Foley Carrier Services offers factoring that you can fully rely upon. We understand the unique needs you have as a trucking company and have many innovative products to help. Call us to find out more!

Foley's factoring program enables you to leverage your accounts receivable in order to improve cash flow.