Factoring Can Save You Money
Some people get caught up in the "costs" associated with factoring without looking at how the benefits probably end up saving them money. Here are a few things to consider:
- Collection Costs - We've talked to many people who have lost out on payments from their customers. This could happen because the customer had poor credit history, the paperwork wasn't submitted correctly, or the trucking company simply didn't follow through with the collections. In each of these cases a good factoring company will help eliminate the risks of not collecting from customers. We have many companies who switch over to Lone Star Factors because their current factor didn't get the paperwork out on time or at all, or they dropped the ball with collections.
- Grow Your Business - By factoring you give up a little of your profit in return for an extra month or two of working capital that YOU CAN USE TO GROW YOUR BUSINESS! This means adding more equipment, hiring salespeople, or however else you see fit to reinvest into your business to grow the gross revenue and profit.
- Outsourcing Your Billing - Whether you are an owner/operator or a manager for a large corporation someone is being paid to spend time checking debtor credit worthiness, billing customers, and following up with paperwork. WE TAKE CARE OF ALL OF THIS FOR YOU! This is included in our factoring fee. You not only get your capital more quickly you also get a billing department to take care of all of your invoice-related paperwork. This will undoubtedly save you time and money.
Please keep us in mind for all of your factoring needs. Currently serving: Utah, Idaho, Nevada, California, Washington, Oregon, Arizona, New Mexico, Colorado, Wyoming, Montana, North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, Texas, Louisiana, Arkansas, Missouri, Iowa, Minnesota, Wisconsin, Illinois, Mississippi, Alabama, Georgia, Florida, South Carolina, North Carolina, Virginia, Delaware, Massachusetts, Maine, New Hampshire, New York, Pennsylvania, Maryland, West Virginia, Kentucky, Tennessee, Ohio, Indiana.