Freight factoring is an easy way for truckers to be paid immediately for the work they have done whether or not the shipper they are working for pays on time. A freight bill factoring company purchases trucking industry invoices at a discount and then funds the carriers for the receivables purchased.

The process can be easily described in five simple steps.

Step 1
Invoice your customer for your services and send a copy of that invoice to Global Financial Factoring.

Step 2
We give you up to 90% of the value of your invoice.

Step 3
We chase your invoice with your customer.

Step 4
Your customer pays us 100% of the invoice.

Step 5
We give you the remaining value of your invoice minus our service fees.

For you, the customer, the process couldn’t be simpler because we take on the the hard part, chasing after all of the unpaid invoices. But that’s not the only reason so many trucking companies choose invoice factoring.

• It grows your business
  Unlike a fixed term loan or bank overdraft, an invoice factoring facility expands in line with your turnover. As your firm grows, more working capital is required.
• It’s for a defined term
  What many people don’t realise is that an overdraft facility can be withdrawn at very short notice. If your bank decides that it no longer wants to make that credit available to you, they can cancel the arrangement, demanding repayment of any cash that’s outstanding.
• You only borrow what you need
  Flexibility is at the heart of invoice factoring. While the amount you can borrow is linked to your turnover, you are not obliged to take, and therefore pay interest on, the maximum amount.
• It gives you access to credit control specialists
  Late payment is a major headache for millions of small businesses. Many seek out invoice factoring because it allows them to hand over the time-consuming and often frustrating job of chasing customers for payment.
• Peace of mind
  Peace of mind is an incredibly valuable commodity, particularly in the small business sector where owner-managers are often working long hours. Getting a new commercial operation off the ground is rarely easy, putting huge demands on those running it.

See even more benefits of financial factoring.

Global Financial Factoring has proven to be a solid leader in the factoring industry, providing daily, dependable cash flow. Above all, Global is dedicated to providing carriers an honest, ethical financial solution with no hidden costs or fees. For these reasons, combined with our legendary service, Global is America’s Favorite Factor.

Welcome to the Global Financial Factoring blog! We have started this blog so that our visitors and customers will better understand freight factoring. This blog is not a sales pitch. We will focus on writing about current topics in the trucking and factoring industry. If you have any questions about the discussions posted on this blog we want to encourage you to leave us a comment below or contact us on one of the social networks listed on this site.

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For those that are new to the freight factoring industry it is an easy concept to grasp. Basically freight factoring means that truckers can be paid immediately for the work they have done. The payments are not independent on whether or not the shipper pays on time. A freight bill factoring company like Global Financial Factoring purchases trucking industry invoices at a discount and then funds the carriers for the receivables purchased. Many trucking companies rely on freight factoring because even in good economic times they cannot afford for their invoices to go unpaid for 30 to 45 days or more.

We look forward to discussing a wide variety of topics about freight factoring on our new blog and hearing back from our readers.