Being in the Transportation industry, you have quite a few things to vie for your attention. However, no matter what exactly you are transporting , if you are a short-distance or long-distance transporter, or if you are in it for big business or just a little extra cash, the bottom line is the incoming cash flow. Once again, no matter where you stand in the transportation industry, you can also benefit from the services of a transportation finance company such as Diversified Transportation Finance or other such reputable companies. Read on to learn about the services offered by these types of companies.
A Financial Partner for Your Transportation Business
Factoring Express
This type of service caters to the owner-operator of a smaller fleet. This service addresses the need for cash advances on Invoices. The owner-operator can choose to have the cash advances on a regular basis (per invoice) or only occasionally (only on intermittent invoices). This service caters to those fleets who are making $100,000 or less in monthly revenue.
Freight Fleet Factoring
This service addresses the needs of those fleets who are making over $100,000 in monthly revenue. The first option you have is to get the same percentage advanced on each eligible invoice you submit or you can set up a line of credit against your invoices with the addition of a small administrative fee. The difference really between the two options is a choice between an invoice-by-invoice program versus pooling all submitted invoices to create a pool of credit.
Other Services
Besides the factoring express and freight fleet factoring services, there are other perks that come from using Diversified Transportation Services or other such high-quality finance companies. Some of these services may include the following:
· Credit checks and monitoring: with a finance company in your corner, they will check the credit of the potential clients of yours to ensure your invoices get paid.
· Accounting: with services such as account maintenance and invoice creation, your payments will come in sooner.
· Collections: if your clients do not pay, your financing partners can help fax missing paperwork, send collection notices, and get your invoices paid.