The transportation sector is certainly doing its part and continues to maintain course with its contribution to the recovery of our economy. Freight for-hire shipment continues to rise for the third consecutive month - 0.8% in September from August, and according to the U.S. Department of Transportation’s Bureau of Transportation Statistics’ (BTS) Freight Transportation Services Index (TSI), reaching its highest all-time level. Full BTS report
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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