Factoring For Faster Payments

Written by Wall Street News on October 6th, 2018. Posted in Freight bill factoring, Freight factoring companies, Invoice factoring services

Businesses both big and small need revenue to pay all sorts of things, from employee wages and salaries to paying back loans to fuel, energy, and other resources needed to keep the business going. Sending invoices is the standard way to collect payments from customers, but often, these payments may be 30 to 60 days away or even longer, and sometimes, a company is unwilling or unable to wait that long, so there is another business model to handle this: factoring. Businesses such as shipping and freight, often with trucks, can make good use of factoring, and not necessarily as a last ditch effort, either. After all, small businesses, those with 500 or fewer employees, make up 99.7% of all business in the United States, and many of them can get a boost with factoring. Invoice funding can be made fast and reliable this way, and an international factoring association can coordinate and regulate factoring work around the globe.

What is a Factoring Company?

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