What is factoring company for trucking ? Trucking factoring | Trucking Dispatchers
What is factoring company for trucking ?
Trucking factoring companies—also known as freight factoring companies—give you an advance on your outstanding invoices, and they collect the payment from your customer when the invoice is due. Additionally, trucking factoring companies can often take the risk of nonpayment off your shoulders—for a price.
Factoring is a way for truckers to receive much faster payment for their services while the factoring company deals with the invoice payment processing and collection. In exchange for this service, the truck driver gives up a small percentage of the amount they were owed to the factoring company.
