Answer:

A freight factoring company advances cash to a trucking company by purchasing their outstanding invoices at a discounted rate. This provides immediate funds to trucking businesses. This transaction is formalized through a factoring agreement.

Frequently Asked Questions

  • How can I Learn More About the Trucking Industry?

  • Do I Have to Commit To a Long-Term Contract?

  • Do You Offer a Fuel Card For Truckers?

  • What If My Customers Don’t Pay?

  • What Is the Difference Between Non-Recourse and Recourse Factoring?

  • How Fast Do I Receive Payment For Invoice Financing?

  • What Is the Average Freight Factoring Fee?

  • What Is the Best Factoring Company For Truckers?

  • What Does a Freight Factoring Company Do?

  • Is Freight Factoring Worth It?