What is Factoring?
With a tough lending climate, companies of all types are turning to factoring to gain access to steady cash flow for their business. So what is factoring, and how can it help your business?
Factoring is simply a cash flow solution that turns your invoices into quick cash. It is extremely common to use factoring services in the freight industry, as companies are then able to use the advanced funds for fuel needs and overhead business costs instead of having to wait 30, 60, or even 90 days for a payment. Learn how it works by clicking here.