Job numbers are out and are better than expected, the private sector up by 246,000 in Feb v. 146,000 in Jan, non-farm up by 236,000, and the unemployment rate down to 7.7 in Feb v. 7.9% in Jan. Business is back on track and the trucking and transportation industry is ready to meet the demand, as well as trucking factors with plenty of money to fund increased loads and industry growth!
Why freight factoring is so important to a carrier? Freight factoring is the blood flow of cash flow, a carrier to remain competitive and operate successfully must offer credit to its customers, typically 30 to 90 days, so this is cash that the business will not receive right away, so how can the business operate having to wait that long for their payments, well, freight factoring? With factoring, the trucking company sells its outstanding invoices to a factoring company right after the invoice is issued, providing the carrier with the necessary cash to continue operating without a cash flow shortfall. https://www.1sttruckingfactoring.com
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