Invoice Factoring for Trucking Companies
Owner-Operator factoring can be an effective tool to get immediate cash flow for your single truck or large fleet, Caprock Funding is one of the most cost effective when it comes to truck factoring companies. You might need additional capital because you are expanding and need to pay your drivers. Perhaps your sales are inconsistent or vary; in that case factoring can smooth your cash flow.
How Caprock helps Trucking and Transportation Companies
We understand that cash flow is crucial to your business and you must pay your drivers on time. We know that you need to have access to a line of credit in case you get new load opportunities with existing customers or you finally win that big contract. When the banks say no or don't give you enough we will say yes. How? We fund trucking companies based not on whether you are making or losing money but rather your customers' financial strength.
Transportation factoring, in a nutshell, is when you assign your invoices, or unpaid, delivered loads, to a third party lender. In return you will receive up to 90% of that unpaid invoice. Once the bill pays you receive the the remaining amount minus the agreed upon fee. You pick and choose which invoices you want to fund.
We wire or ACH money to your account within 24-hours, and oftentimes within an hour of receiving your funding request. At Caprock Funding we work hard to provide you the best rate possible so you not only get instant cash flow but you continue to book profits throughout the entire factoring experience.