Freight factoring is a service that helps trucking companies get paid faster. The freight factory company buys invoices from a trucking company for a fee, and pays them very quickly, often within 24 hours. Then the freight factoring company sends the invoice to the customer and receives payment from them. For busy business owners, freight factoring helps you to ensure you and your team get paid on-time. Instead of waiting 30 days or more for payment from brokers or shippers, you can get paid the same day with freight factoring. While it does have a fee, it’s well worth the…
What is Freight Factoring
