In today’s fast paced world of online ordering and same day deliveries, customers can sometimes take for granted that they can get so much of what they want exactly when they want it. From the flood relief t shirts that are ordered to help with local recovery efforts to the text books that college students order one day before class starts, there are a number of times in any given week when you may rely on the expedited delivery services that we have grown accustomed to. Behind the scenes of every delivery or every item that we purchase, however, is a vast transportation network that accommodates these orders.
Caught in the middle between the costs of the transportation and the accounts receivable framework is an even more complicated financial network. Imagine if you will a large retail store order that has to be delivered by a certain date. The truck drivers who facilitate sometimes the entire and sometimes only the end delivery must get paid on a weekly, bi monthly, or monthly basis. Without timely expected payments, in fact, truckers have been known to dump a load mid shipment. The trucking companies that need to pay these drivers, however, are typically not receiving payments until the goods are delivered, the customer has been pilled, and the payments have been made. Fortunately, with the help of the top transportation factoring companies trucking companies are able to bridge this financial time gap.
The Top Transportation Factoring Companies Help Business Bridge Financial Gaps
With the use of the latest strategies of advance business capital factoring services many businesses of all size can navigate the challenge of paying creditors before incoming payments are received. With the use of an invoice advance loan, transportation companies are able to meet meet essential payroll obligations on time and avoid any interruption of services. Given that there are nearly 28 million small businesses in the U.S., there are many companies that simply cannot handle the payments that they need to make if they are waiting for payments from their own clients.
In the latest Go Big or Go Home mentality of today’s transportation world, lack of capital can keep smaller companies from going after some of the biggest bids that they might like to acquire. In a time when as many as 12 million trucks, rail cars, locomotives, and vessels move goods over the transportation network there are many smaller businesses that might find themselves unable to compete without these factoring services.
The latest research from the Federal Motor Carrier Safety Administration, approximately 5.9 million commercial motor vehicle drivers operate in the U.S. The likelihood that many businesses will need the services of the top transportation factoring companies is increasingly common.