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
Freight factoring is a financial service that trucking and transportation companies use to improve their cash flow. It involves selling their accounts receivable, or unpaid invoices, to a third-party company known as a factor, which provides immediate cash to carriers on their unpaid invoices. This type of service allows trucking companies to access the funds they need to cover operational expenses, pay drivers, and invest in their business without waiting for customers to pay their invoices. By utilizing freight factoring, carriers can maintain a steady cash flow and ensure smooth operations. For more information about freight factoring, please contact us at any time.
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