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5 Tips to remember while choosing Freight Factoring Company

5 valuable tips to remember that helps to choose the best freight factoring company. The information is shared by Tx Capital Group.

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5 Tips to remember while choosing Freight Factoring Company

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  1. 5 Tips While Choosing a Freight Factoring Company By : truckingreceivables.com

  2. When deciding on a factoring company, it’s important to remember — not all factoring companies are alike. Always choose company that understands your business. To help you, we’ve pulled together 5 tips to consider when choosing a factoring company:

  3. Flexibility Some factoring companies require a minimum number of invoices. So always Be sure to ask about this upfront. It’s best to choose a factoring company that allows flexibility so you can pick and choose the invoices you want to factor.

  4. Industry Knowledge It’s important to choose a freight factoring company that understands your demands. Does a nearby or national Trucking Association embrace your calculating organization? Your calculating organization should know the ins and outs of your business and must offer adaptable results.

  5. Fuel Cards Fuel is the most expensive in trucking and your factoring company should provide you with a FREE fuel card. You should always Choose a factoring company that has a fuel card so you can save every time you fill up.

  6. Customer Service It’s good to choose a factoring company that provides 24 hour online account access so you can see exactly where your funds are. If a factoring company don’t provide online access to your account, then they are lacking in supporting you. Ask them how you can access your account.

  7. Recourse vs. Non Recourse Here are two major types of accounts Recourse and Non-recourse. Factoring with recourse means the client must buy back an invoice from the factoring company. Non-recourse factoring means the factoring company incurs all the risk for non-payment of an invoice

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