Are you a Freight Broker? Learn How to Grow by Financing your Freight Bills through Factoring
Running a freight brokerage can be very profitable. Although being a freight broker can be very rewarding, financially speaking, it can also be very challenging. Especially since drivers depend on you to pay them quickly. And many times, your clients make you wait 30 to 60 days before they pay you.
So you have a challenge. Your drivers want to get paid quickly but your clients want to pay slowly. The math doesnt work. Unless you have a nice cash cushion in the bank, paying your drivers will be a problem. And trying to get bank financing will get you nowhere. Banks always provide financing based on your past history. What if you are a new or expanding freight broker?
A better solution is to finance your freight bills through freight broker factoring. Freight factoring provides you with immediate money for your freight bills, giving you the necessary funds to pay your business expenses and most importantly your drivers. And, as opposed to business loans, freight factoring is easy to obtain. While banks usually look at your past history to make their credit...
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