If you’re considering a freight bill factoring program, you might be wondering how it benefits you and your transportation company. To learn about the advantages that freight factoring comes along with, continue reading.

• High advance rates: Typically, you can receive an advance for at least 90% of the balance on your invoices. In many cases, you might find that you can receive up to 95%.
• Quick approval: Factoring applications are known for being approved very quickly. Often times, if you qualify, you can be approved within one business day! Advances on your invoices are also received pretty quickly, as well.
• Ability to take on more loads: Factoring can be used to effectively improve your cash flow, allowing you to take on more loads and new clients. Since you’re getting paid way before the original payment terms of your invoice, you have the extra cash on hand to do so, therefore growing your company.
• Improved client credit quality: Most factoring companies will do a credit check on your clients, allowing you to see which of your clients are most creditworthy.
• Discount fuel cards: At CoreFund, we offer a fuel card program which provides access to over 5000 truck stops nationwide.

These are just a few of the benefits that freight factoring offers. To find out more about how CoreFund can help fund your transportation company, contact us today!