UNDERSTANDING FACTORING TERMS

UNDERSTANDING FACTORING TERMS In case you’re new to factoring, we thought an explanation of some common terms might come in handy: Account Debtor: Also known as the customer.  A company that purchases products or services from the factoring client and who will pay the invoice that is factored.  Accounts Receivable: Money owed to a business by its…

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HOW TO CHOOSE A FACTORING COMPANY

How to Choose a Factoring Company   First, let’s define what factoring is.   What Is Freight Invoice Factoring?  Factoring could provide an immediate solution to your trucking company’s cash flow problem. Factoring is a type of financing in which a trucking company / owner-operator sells its freight invoices to a factoring company. Within hours…

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Starting Your Own Trucking Company?

Thinking About Starting Your Own Trucking Company?  You can do it with just one truck!   The trucking industry is the lifeblood of the U.S. economy.  Without trucks, America stops!  Did you know that almost 90% of all trucking companies are small fleets of six trucks or less? Here are some thoughts, steps, requirements, etc.What kind of…

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WHY CHOOSE NON-RECOURSE FACTORING?

WHY CHOOSE NON-RECOURSE FACTORING? Trucking Partners has offered non-recourse factoring services for several years.  Non-recourse factoring is the purchase of accounts receivable (freight invoices) for cash. Trucking Partners pioneered the use of non-recourse factoring for small-medium sized motor carriers including many startup companies. Non-Recourse Factoring Benefits Cash Flow: Trucking Partners purchases freight invoices providing motor carriers…

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What Is Freight Invoice Factoring?

  What Is Freight Invoice Factoring? Factoring is a financial transaction and a type of debtor finance in which a business (motor carrier) sells its accounts receivable to a third party (factor) at a discount. A business will sometimes factor its receivable assets to meet its present and immediate cash needs. How Does Factoring Work?…

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