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  • Casual Articles - Freight Bill Factoring: Driving Your Trucking Company to Grow

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    businesses. Unless, of course, you have tons of assets, three years worth of financial statements and you have great credit.

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    Years ago I read this quote:The definition of PAIN:"The difference between what you HAVE and what you WANT."Over the many years of being in sales I see 2 kinds of people when it comes to negotiating.1) The pers
    Growth in the trucking industry is all about freight volume. The more freight you move, the faster your company will grow. But big volume comes with a catch – slow paying customers. Unfortunately, waiting 30 to 45 days to get paid is very common in the industry.

    But what if you cannot afford to wait 45 days to get paid by your clients? What if you need to buy fuel, pay drivers or pay for repairs? Employees and suppliers seldom like to wait to get paid.

    Needless to say, going to the bank for financing is not an option. They usually do not like to finance small and mid sized businesses. Unless, of course, you have tons of assets, three years worth of financial statements and you have great credit.

    So, now what? What

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    a catch – slow paying customers. Unfortunately, waiting 30 to 45 days to get paid is very common in the industry.

    But what if you cannot afford to wait 45 days to get paid by your clients? What if you need to buy fuel, pay drivers or pay for repairs? Employees and suppliers seldom like to wait to get paid.

    Needless to say, going to the bank for financing is not an option. They usually do not like to finance small and mid sized businesses. Unless, of course, you have tons of assets, three years worth of financial statements and you have great credit.

    So, now what? Wha

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    rd to wait 45 days to get paid by your clients? What if you need to buy fuel, pay drivers or pay for repairs? Employees and suppliers seldom like to wait to get paid.

    Needless to say, going to the bank for financing is not an option. They usually do not like to finance small and mid sized businesses. Unless, of course, you have tons of assets, three years worth of financial statements and you have great credit.

    So, now what? Wha

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    wait to get paid.

    Needless to say, going to the bank for financing is not an option. They usually do not like to finance small and mid sized businesses. Unless, of course, you have tons of assets, three years worth of financial statements and you have great credit.

    So, now what? Wha

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    businesses. Unless, of course, you have tons of assets, three years worth of financial statements and you have great credit.

    So, now what? What are your options?

    If you own a trucking company, there is a solution that will provide you with plenty of financing. And as opposed to bank loans, this financing is tied to your freight bills. The more you invoice, the more financing you qualify for.

    This solution can provide you with the necessary funds to buy fuel, pay drivers and pay for repairs. And it is available to freight companies of any size. The solution is called freight bill factoring (or freight factoring for short).

    Freight bill factoring works as follows:

    1. You deliver the freight and invoice y

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