Quick Question And Answer
WIDESTREAM CAPITAL INC.
What is Freight Factoring?
- Freight factoring is when a factoring company purchases from trucking companies freight invoices they would usually send to brokers. Factoring company pays trucking companies on those invoices immediately and then invoices brokers for the loads. The main reason that trucking companies factor is they need to be able to use the money they earned hauling freight QUICKLY, rather than having to wait 30, 60, or even 90 days it often takes the brokers to pay those invoices.
Who usually uses factoring companies?
What is the difference between Recourse and Non-Recourse Factoring?
Is it expensive to Factor invoices?
What do I need to do to get started?
What if my credit score is not that great?
