Owners of trucking companies who want to expand will often consider adding more trucks to their fleet, but this can be costly, especially if a steady stream of new loads isn’t guaranteed. In the factoring industry, we hear about trucking firms that want to grow their business, but are not in the position to add vehicles and staff members due to cash flow concerns.
Trucking companies are often faced with real financial challenges that can set back the growth of the business exponentially if there is no factoring company assisting them. These challenges include:
- Waiting 30, 60 or 90 days for payments from customers
- Keeping up with wages, taxes, insurance, vehicle payments, and fuel while they wait
Becoming a broker and partnering with a factoring company can help address these challenges. If your trucking company already has relationships with shippers and access to load boards, you have a great start. With brokers’ commissions as added revenue, you are on your way to purchasing more trucks and hiring more drivers.
Factoring with Interstate Capital can help you…
- Get paid fast so you can take on additional loads
- Turn over your invoicing and collections work to your factoring company
- Minimize the risk for your business with our in-house credit checking department
- Ensure that invoices are paid and that you aren’t kept waiting for your income
What advantages can Interstate Capital’s factoring programs provide for trucking brokers?
- Funding before and after load delivery
- Funding available in as few as 2 hours after application approval
- Fuel advances and 24/7 load approvals
- Lower fuel costs with our fuel discount card
Interstate Capital provides factoring services to trucking and freight brokerages
If you would like to grow and expand your trucking company and avoid having to wait for payments, the time to do so is now! At Interstate Capital we can provide you with information on how to grow your trucking business, by becoming a broker. We have provided factoring services to trucking and freight brokers for 22 years and enjoy a positive reputation among carriers, shippers and brokers in the industry. With the help of the factoring from Interstate Capital, your trucking company can grow from strength to strength.