TopicsBlogHelpFAQ

Carrier Factoring Mythbusters: Cash Flow is the Only Benefit

Factoring companies like InstaPay offer significant cost savings on top of cash flow to carriers. Reduce your overhead and save time with us.

Cash Flow and More for Carriers who Factor

Fleets that operate five trucks or less make up 86 percent of Federal Motor Carrier Safety Administration (FMCSA) registrants. Small fleets need access to working capital within 15 days, and in many cases within 10 days of delivering loads to keep their wheels turning.

The competition for truck capacity has put pressure on shippers and brokers to pay quickly, but carriers are also using products and services, such as factoring, to get instant access to capital. A common myth, however, is that the only benefit to factoring is cash flow.

The factoring process offers multiple cost-saving services for carriers. A factoring company will typically provide the invoicing, collections, risk relief (with non-recourse factoring), and even financial advice.

In addition, some factoring companies offer free credit checks so carriers will know ahead of time whether or not they can factor invoices from certain shippers or brokers.

By outsourcing these items, carriers are able to free up their own resources to find better loads and negotiate higher freight rates.

Factoring has traditionally been viewed as a last resort for carriers to quickly access working capital. New services are available that offer low, flat fees with no hidden costs to make it possible for carriers to use factoring where and when it makes sense to grow their businesses and profits.

Heading

This is some text inside of a div block.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.