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How Truck Factoring works

A complete guide on how truck factoring works

karlkrueger
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How Truck Factoring works

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  1. How Truck Factoring Works

  2. Step 1 Company XYZ is short on cash to pay for fuel to haul freights

  3. Step 2 But he has $5,000 in receivables due in 30 days

  4. Step 3 The company XYZ can sell those invoices to a factoring company and can receive cash for them

  5. Step 3 The Factoring Company will advance up to 90% and when the invoices are paid, factoring company send the remaining 4-7 % to XYZ Company.

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