Have you ever felt like you’re constantly chasing payments as an independent trucker? The long waits for invoices to be paid can make it difficult to keep your finances in check and focus on what really matters – hitting the open road. If you’re tired of the uncertainty and want to streamline your cash flow, it’s time to consider invoice factoring.
HMD Factoring offers simple solutions for truckers looking to smooth out their financial journey. Their factoring services provide you with quick access to cash for your unpaid invoices so you can stop wasting time tracking payments and get back to trucking. With competitive rates and decades of experience helping truckers nationwide. Read more about freight factoring on the HMD Trucking site.
Freight Factoring: A Solution for Trucking Companies
As a trucking company, cash flow is critical to keeping your business moving. Invoice factoring with HMD Financial provides a fast, flexible solution to financing challenges. With freight factoring, you can get paid quickly for the work you’ve done instead of waiting 30 to 90 days for your customers to pay invoices.
How Freight Factoring Works
Freight factoring speeds up how fast you get paid. Here’s how it works in three easy steps:
- You deliver the goods to your customer and send the invoice.
- Company purchases your invoices, often paying you 85-90% of the total within 24 hours. You get the bulk of the money right away instead of waiting months for payment.
- Then collects payment from your customers. Once they pay, company sends you the remaining balance minus a small factoring fee.
Freight factoring provides quick access to working capital so you can pay drivers and cover operating expenses without delay. The factoring fees are often lower than credit card processing fees, allowing you to keep more of your hard-earned revenue.
If unpaid invoices and long payment terms from customers are putting the brakes on your cash flow, freight factoring with HMD services can get your finances back on track. Our factoring services offer flexible options tailored to your company’s needs. Contact us today to learn how we can ensure smooth sailing for your trucking business.
HMD’s Freight Factoring Services: Fast, Flexible Financing
Instant Cash for Your Invoices
With freight factoring, you can get paid for your invoices in as little as 24 hours. Simply submit your freight bills and delivery receipts, and we will evaluate them right away. Once approved, they’ll deposit 70-90% of the total invoice amount directly into your account, often within a day. The remaining balance, less a small factoring fee, is paid once your customer pays the invoice.
Funding on Your Terms
Our factoring company provides freight factoring on your schedule. You choose which invoices you want to factor and when. So, whether you need a quick influx of cash to cover immediate expenses or want ongoing funding to fuel your growth. Their freight factoring services offer flexibility and control so you can keep your business moving at your pace.
Decades of Experience
With over 20 years of experience in the transportation industry, we understand the challenges trucking companies face. Their freight factoring solutions are designed by experts who know your business inside and out. Our company is dedicated to providing fast, reliable funding so you can focus on what really matters: keeping your trucks rolling and your customers satisfied.
The Benefits of Freight Factoring With HMD
- Improved cash flow. HMD provides upfront payment for your invoices, typically within 24 hours, so you get paid right away instead of waiting 30-90 days. This gives you instant access to cash to pay drivers, fuel your trucks, and cover other expenses.
- No debt or interest charges. You get paid the full invoice amount upfront, minus a small fee, with no interest charges or debt to repay.
- Flexible solution. We customize factoring solutions to meet your specific business needs. They offer recourse and non-recourse options, as well as volume-based discounts and seasonal promotions.
- Simple process. HMD makes freight factoring straightforward. You submit your invoices online or via their mobile app and they handle the rest — verifying the details, notifying your customers, and directly depositing funds in your account.
- Improved customer relationships. With reliable cash flow and funding in place, you can focus on building better relationships with your customers instead of having to chase them for payments.
- Additional services. In addition to freight factoring, our company offers other useful services like fuel advances, outsourced invoice processing, and Carrier 411 reports to help you better manage your business.
Conclusion
So there you have it, truckers. With HMD’s factoring services by your side, you can keep your business cruising along without cash flow worries slowing you down. Their competitive rates and flexible terms help ensure you have the working capital you need to keep those wheels turning. No more waiting around for invoices to be paid or scrambling to cover costs in the meantime. We handle the details so you can focus on what really matters – getting out on the open road. Smooth sailing ahead! Read more
