15). How the Factoring Industry Works By : Kris Koonar
Factoring is a financial tool that allows you to get your pending invoices paid in two days. Factoring includes selling your invoices at a discount for immediate cash. The factoring company will collect payment from the client later and you are provided with immediate cash so that you can use it to pay the suppliers and for other business activities. It is not a business loan.
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17). What Companies Must Know About Freight Factoring By : Kris Koonar
When you haul freight for your customer or freight broker, you would be issuing a freight invoice. You would then wait for 30 to 90 days depending on the credit given to your customer, for your payment to arrive. Freight factoring companies will "buy" this freight invoice off you and give you the invoice amount immediately.
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18). Freight Factoring- A Boon for Small Truck Fleet Owners By : Kris Koonar
If your small truck fleet business has just hatched out of a container, then you would have realized that just delivering goods and deducting your fuel expenses and salaries does not equal to profit. There are loads of other related expenses as rent, insurance, bad debt, breakdowns, etc which have to be calculated before you arrive at the correct figure.
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23). Freight Factoring Tips for Companies By : Kris Koonar
The freight factoring company will certainly deduct the factoring charges from your last installment, but that should not be the issue because even if you had opted for a bank loan, you would have been required to pay interest; not to mention the tough process of procuring the necessary documents and signing collaterals that banks usually require before lending you the required amount.
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