So, what is freight factoring? Simply, freight factoring is the sale of a company’s accounts receivable for immediate cash. Most companies have to pay bills faster than they can collect on their accounts receivable. This disrupts cash flow.
If you have invoices that won’t be paid until 30 or 45 days, but need the cash flow today, factoring is a great option. We also take care of collections and back office work for your company. Factoring is the fastest and easiest way to fund your business. You incur no debt and can get approved in a day!
Here’s an example of successful freight factoring:
- You email your company invoice with back-up to CoreFund Capital, then we forward it to your customer
- CoreFund pays up to 98% of your invoice the same day
- CoreFund collects your invoice from your customer
- CoreFund collects a small fee for its services