Factoring, also known as accounts receivable financing, is the sales of your invoices, to create a source of immediate cash for your business. Factoring allows your to spend more time growing your business, rather than concentrating on day to day operations.
Factoring your accounts receivables (invoices) will allow your business to:
Gain market share, plan for future expansions and aid in strategic business growth.
Automatically pay your business expenses in a timely manner such as:
IFTA and other business taxes
Insurance licensing fees
Allow better cash flow for trucking companies, who cannot accurately plan for if you have to wait 30, 60 or 90 days to receive your payments for services completed.
Dramatically improve your cash flow, even with previous poor credit history or delinquencies.
When you sell your invoices to CarrierNet Group Financial (CNGF) you can rely on fast funding as early as same day which will allow you to make those quick business decisions as well as plan for those strategic expansions.
Trucking firms may find it difficult to qualify in today’s tight credit environment for a traditional bank loan. Carriernet will base credit decisions on the creditworthiness of your customers. For successful trucking companies, Carriernet can provide the working capital needed to expand your business. Carriernet will instantly improve your cash flow by purchasing your accounts receivables, avoiding possible loans and without acquiring more debt.
The average advance amount for each invoice is 90%. After Carriernet receives payment, the flat factoring fee will be taken and the rest will be quickly dispersed back to your company. Again, because every business is unique, each advance rate will be tailored to your financial needs.
Yes, Carriernet offers a convenient Fleet One fuel card program. The Fleet One fuel card is recognized in almost every fuel station across the United States, allowing your business to get “Cost Plus” pricing at the fuel pump every time you fill up. For those clients that qualify they can receive fuel discounts at TA, Petro, Pilot and Flying Js. Contact our office to see how you can qualify for our fuel discount program 1-877-747-2807.
Yes, Carriernet offers accurate credit checks on both. As a client you will have full online access to our debtor database. This program allows you to see live information on over 7000 different shippers and brokers combined 24/7/365.
💰 We will give $150 to current CarrierNet and Truckwin customers that successfully connect us with our next great customer to serve!