Once approved, we will issue a factoring agreement that lays out the specifics of your factoring contract, including your fees. Initial funding is usually available within 5 to 10 days. Factoring: A financing method in which a trucking company sells its accounts receivable at a discount to a third-party funding source to increase cash flow. Here’s a quick overview of how freight factoring works. Instead of waiting weeks or months for a bank loan approval, your business can get invoice factoring in a matter of days. Factoring servicesĪ Canada factoring company will help your business improve its cash flow, as well as handle receivables management, credit services and a business partner to help you through the tough times. Rather than sinking into debt and making loan payments, businesses can have steady cash flow. With bank financing difficult to obtain, small business are relying heavily on Ontario factoring companies for their cash flow needs. Factoring companies also handle all your collections and receivables management. You don’t have to wait 30+ days to collect accounts receivables. Immediate cashįactoring companies buy your invoices and send you cash within 24 to 48 hours. The area employs nearly 300,000 tech workers and represents over 60% of Canada’s high tech industry. The world’s second largest technological innovation center is located between Toronto and Waterloo second only to California’s Silicon Valley. Ontario is the largest economic province in Canada, with a GDP nearly twice that of Quebec. Instead, it’s an advance payment you earn by selling your accounts receivables to Power Funding.Canada’s economy is dominated by the service industry but also has significant sectors in technology, manufacturing and oil and gas exports. The process is much simpler and faster than applying for a loan from the bank.īest of all, transportation factoring is not a loan, so no debt is incurred. Trucking and transportation companies enjoy the convenience of our fast application process, fuel advances, same-day payouts, and much more. The factor buys the receivables at a discount. Rather than waiting for slow-paying clients to cover their bills, turn in your monthly invoices to Power Funding and receive up to 98% of your total receivables within 24 hours. Invoice factoring is the act of selling your receivables to a factoring company other wise known as a factor. Do you issue invoices with a long payment term Instead of waiting for your money for 30 days or more, use factoring for transport companies and we will. We offer same-day payments for your outstanding accounts receivable invoices.
#Invoice factoring transportation full#
EXPLORE SOLUTIONS SAME DAY FUNDING TO KEEP YOUR TRUCKS ON THE ROAD Factoring services for your fleet plus a full suite of financial solutions to help you meet your long term goals. Power Funding has the solution you’ve been looking for. Invoice factoring for transportation Get paid the same day while Triumph takes care of invoicing and collections for you. That means many of these businesses, especially startups or small to midsize companies, face an ongoing challenge to finance their day to day expenses. They each pay their employees weekly, but their clients are billed at Net 30, 45, or 60. Factoring Services: Invoice, Transportation, Medical & more. Trucking companies, couriers, freight brokers, and other transportation companies all face a similar challenge. Submit your outstanding invoices & get money today.
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