How to choose the best freight factoring service for your business

August 28, 2020

They say cash is king. But when you’ve completed your work and don’t have the money to show for it, a lack of cash can cause huge problems for you.

This issue is especially prominent in the trucking industry, where it’s not uncommon to receive payment for your work until months after the fact. But with the right freight factoring company, you can get your money in as little as 24 hours after you complete your delivery.

Here, we’ll go over some tips to help you choose the best freight factoring services for your company’s unique needs.

1. Do they serve your market specifically?

Different companies serve different markets, and so they have different knowledge bases and specialties as well. It’ll be helpful for you to choose a freight factoring service that works specifically with your kind of business, because they already know what you need and how they can help you.

Think of it as the difference between a surgeon and a pediatrician operating on your heart — you’d probably choose the former over the latter, because they specialize in what you need.

2. How much will they advance you and how quickly can you get it?

Waiting a month or longer for your money to come in can become a headache very quickly, so you’ll want to find a factoring company that can solve this problem with minimal issues for you.

Here at BP Financing, we can advance you up to 95% of your invoice value — and all within 24 hours. In comparison, other companies will typically only offer about 80% of your invoice value.

3. What kind of customer service do they offer?

When dealing with money, you’ll want to make sure everything is handled quickly and efficiently. Of course, mishaps do happen — and when they do, you’d want impeccable customer service to help you with your issue as soon as possible.

While searching for the right freight factoring service for your business, take note of how each company treats you during the process. Do they listen to your specific needs, or are they more interested in closing the deal so they can move on to the next one? How they treat you during this crucial time is a reflection of how they will treat you as a client. Choose wisely.

Contact BP Financing for your freight factoring needs today

When you’re in need of trustworthy freight factoring services, turn to our team of professionals. We’ve dedicated the past 15 years to helping people in the trucking industry get cash advances on their invoices when they need it most. However, we’re able to help professionals across a wide range of industries with their cash flow problems too.

When you use our factoring services, you can expect your money to come in within 24 hours. BP Financing also offers personalized customer service to ensure that your experience with freight factoring is a memorable one.

If you’re ready to get started, contact us using the form on our website. Otherwise, if you have pressing questions or concerns, reach us directly by calling (845) 352-3700 today.

trucker taking advantage of freight factoring services while he does his job