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Trucking
/ Logistics / Carrier Factoring
Services:
Many small to mid sized trucking,
carrier, logistics, and other
businesses use factoring to maintain
cash flow.
Brad Hoffman CPA has been working
with the best factoring companies in
American for over twenty years - and
it really makes a difference as to
who you choose to factor your
receivables with!
Factoring is where your business
sells it accounts receivables to a
third party at a discount in
exchange for up front cash.
Sound easy right? Well it's not and
it ripe with companies who prey on
the unknowing with recourse and non
recourse factoring arrangements that
could put your company out of
business.
The cash you'll get for invoices
ranges from 75% to 90% depending on
who you use to factor and how you
set it up. It's critical to use
someone like us that has the
contacts and expertise in factoring
to guide you to the right
connection.
Factoring fees including cash
advances, the factor discount fee,
invoice fees, and other charges are
not etched in stone - we know who
has the best deals in the trucking
business - and so do our clients.
The good thing for small to mid size
companies that may struggle to get
the capital they need from standard
banks is that factoring relies on
your customers ability to pay - not
yours. We've seen factoring
arrangements as low as .25% - but
you must know who to use, and how to
structure the deal at the onset -
not once you've already signed.
The same applies to companies who
are already factoring. We've helped
customers move their factoring from
one lender to another swiftly -
which not only gained them
additional access to cash, it saved
them tens of thousands annually on
fees and charges.
Carrier factoring services are not
new. There is however a huge
difference in the rates and services
your company can expect. If you use
a company to factor receivables make
sure you use someone who knows the
industry and the companies that are
considered best in class for carrier
factoring.
Non recourse and recourse factor
arrangements are available.
Obviously you'll pay more for a non
recourse factoring arrangement as
you've eliminated most of your risk.
Carrier factoring services and
negotiating the best terms for
trucking and logistic companies who
need to factor - is what Brad
Hoffman CPA services does best!
With nearly thirty years of
expertise in the trucking business,
Brad Hoffman brings the contacts and
experience your company should be
using to factor. When you have to
sell receivables either for daily
cash flow or for equipment
financing, give Brad a call at
614-203-8021 to make sure you're
company has grabbed the best deal! |
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