Factoring service

Factoring is a financial service commonly used in the trucking industry, including by truck dispatchers, to address cash flow challenges. It involves selling accounts receivable (unpaid invoices) to a third-party company, known as a "factor," at a discounted rate. This allows businesses to access funds quickly instead of waiting for customers to pay their invoices on their regular terms.

The factoring company takes over the responsibility of collecting payment from our clients. They will communicate directly with our clients to collect the full invoice amount. Once the invoice is paid, the factor deducts their fees (discount rate) and remits the remaining balance.