FACTORING PROCESS FOR BROKERS
The industry is continuing to grow and there is a lot of competition out there these days for freight brokers. With more than 20,000 registered freight brokers in the United States, you need to be operating efficiently and reliably to keep up with the bigger brokers and not to get left in the dust. Cash flow problems prove to continue being a major failure point for many brokers and trucking companies trying to make it in the commercial freight industry. This issue spans from the smaller owner-operator outfits to the larger companies. Did you know that factoring services are not just for carriers? In fact, our partners have been providing factoring services freight broker companies for years and truly understand the unique needs and insight brokers need to succeed in the industry. We understand that the cash flow hassle can be a make or break circumstance for your business. Shippers do not always have your best interest in mind and often pay out slower than you really need them to so that your business can keep going on the next job.
In recent years we have seen the growing trend of bankruptcies among registered freight brokers as they feel the squeeze on their finances from shippers that continue to slow pay. However, we know that number is often higher than reported as the smaller companies tend to just silently fade away without a word when they get to that point instead of dealing with the formalities of filing for bankruptcy or closing the business.
This is where our partners comes in the picture. They are able to turn your freight bills into the money now through invoice factoring, covering your company needs to stay on the path to success.
They say hindsight is 20/20, what if you could know which customers are the right ones to work with and which to avoid, before learning the hard way. Well, you can have that very information at your fingertips to make life just that much easier.
Don’t get passed up by another carrier for one of the mega-brokers taking all the business. Take control of the situation and get the right team on your side to make the winning difference.
Do you want your freight brokerage to grow? Use the right partner. Contact us today to learn more about our broker factoring partners, and get a free quote. Contact us at (913) 393-6100.