Transportation Startup
Accounts receivable factoring, also known as invoice factoring, can be a dependable cash flow solution for your company in times of need. Invoice factoring converts unpaid invoices into cash in as little as 24 hours. However, compared to traditional bank loans, this could take months to get approved, and if you are a new business owner, you may not have the creditworthiness to get funds quickly.
Getting Started
Start your transportation business off with cash flowing with invoice factoring. Once you have your authority and before you haul your first load, partner with GO Funding to find a factoring service that specializes in startups.
Don’t wait the standard 30, 60, or 90 days to be paid. Factoring can provide same-day cash for freight bills. Our transportation invoice factoring partners will help you get started with cash flow and prevent stress from day one by getting paid faster.
You will need:
Operating authority
Proof of insurance
How does Transportation factoring work?
Provide service to your customers while submitting invoices to the factoring company.
Your company receives a cash advance of up to 95% of the invoice amount.
Use the advance as you see fit to fund your business.
Your client makes a payment to the factor.
Once the invoice is paid, the remaining balance, less a small factoring fee, is returned to you.
