Fast and reliable payments to their work. Brokers have a reputation for being slow in paying. Once you have submitted an invoice to the broker, you could wind up waiting anywhere from 30 to 90 days before you be paid. An average wait of 90 days to get the money you owe is not acceptable to most people.
A reputable factoring service can prove beneficial. In this video, David McGill will explain the specifics of how factoring companies work and how they can help your company.
McGill will demonstrate how traditional payments function by using the useful illustrations he has drawn on his whiteboard. McGill will also demonstrate the process of sending an invoicing to an factoring company instead of a brokerage can accelerate the process of payment. Truckers will not need to wait for payment for 30 to 90 days. The factoring firm will make sure that money is to your bank account within 72 hours.
As well as this insightful guide to how factoring businesses perform, McGill will also share his suggestions for an factoring company that he uses for his own trucking company. It is possible to watch the complete video to know more about factors that can benefit your company. Be sure to sign up to get more videos that can help you!