Thursday, March 13, 2014

A Financial Partner for Your Transportation Business

Being in the transportation industry, you have quite a few things to vie for your attention. However, no matter what exactly you are transporting , if you are a short-distance or long-distance transporter, or if you are in it for big business or just a little extra cash, the bottom line is the incoming cash flow. Once again, no matter where you stand in the transportation industry, you can also benefit from the services of a transportation finance company such as Diversified Transportation Finance or other such reputable companies. Read on to learn about the services offered by these types of companies.

Factoring Express

This type of service caters to the owner-operator of a smaller fleet. This service addresses the need for cash advances on invoices. The owner-operator can choose to have the cash advances on a regular basis (per invoice) or only occasionally (only on intermittent invoices). This service caters to those fleets who are making $100,000 or less in monthly revenue.

Freight Fleet Factoring

This service addresses the needs of those fleets who are making over $100,000 in monthly revenue. The first option you have is to get the same percentage advanced on each eligible invoice you submit or you can set up a line of credit against your invoices with the addition of a small administrative fee. The difference really between the two options is a choice between an invoice-by-invoice program versus pooling all submitted invoices to create a pool of credit.

Other Services

Besides the factoring express and freight fleet factoring services, there are other perks that come from using Diversified Transportation Services or other such high-quality finance companies. Some of these services may include the following:

·         Credit checks and monitoring: with a finance company in your corner, they will check the credit of the potential clients of yours to ensure your invoices get paid.
·         Accounting: with services such as account maintenance and invoice creation, your payments will come in sooner.

·         Collections: if your clients do not pay, your financing partners can help fax missing paperwork, send collection notices, and get your invoices paid.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...