Is Using Factoring A Smart Business Strategy In This Hot Freight Market? Our truck dispatch service in the Unites States with the best loads for truck disaptch
We are in perhaps the strongest freight market in the history of trucking. I’ve heard some crazy stories in talking to carriers: shippers agreeing to pay the carriers to run their trailer empty back to their point of origin, just to be sure the shipper had available capacity to cover their next load; or, carriers getting paid $6/mile!
With an environment like this, who wants to give up 1.5% to 2% to use factoring?
Steady Cash Flow Truck Disaptch Service
I mean, with the steady cash flow that the current market conditions are driving, why bother making the effort to set up a factoring relationship… who needs it? Well, someone once told me a simple truth – time never stops, and tomorrow will be here. And for business owners that are taking advantage of the strong market tailwinds, many will be caught unprepared when the market softens and begins to move back to typical levels. A good business practice has the prudent business owner looking ahead up to two years. With that forward looking view, you will likely see a market correction. And, when that comes, it’s always best to have prepared by building relationships now that will help smooth the way forward. I believe this is the strongest case for using factoring now.
Truck Dispatching USA Service
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Find The Right Truck Factoring partner
If you can find the right factoring partner: someone like our friends at Express Freight Finance, you can enter the relationship at no cost, factor only those customers that stretch out payments (you decide which customers to factor), take advantage of their credit services so you can expand your customer base, utilize their market data and integrated load board to find the most favorable markets and lanes, and use their equipment financing to grow your fleet, all toward setting your business up for success when the market turns. When you look at it, the 1.5% to 2% expense that you are avoiding now, isn’t going to help you later when you are caught flat footed as the market corrects; well, unless you put those funds in the bank. And who of us was insightful enough to do that? A better approach is to partner with our friends at Express Freight Finance and take advantage of the different ways they can help your business achieve success and longevity. There is really no risk in getting set up with them now. When the market correction happens, you will be glad that you have Express Freight Finance in your corner.