Invoice Financing for the Trucking Industry

Invoice financing can be a financial lifeline for Businesses in the Trucking Industry. 

With fluctuating fuel costs maintenance costs and more trucking companies face a lot of financial burdens a lot of other types of companies do not face on a day to day basis. These hurdles can be dealt with if your trucking company utilizes all of the business finance options at their disposal.

Bank loans are typically not flexible enough to be available when needed. Trucking companies finance needs fluctuate month to month if not day to day. A bank loan is more of a long term commitment that may be good for purchasing facilities or paying off previously acquired loans.

Invoice Financing or Factoring is a more flexible finance tool that can be utilized on a short term one time only basis or an ongoing credit facility to help finance day to day operations. The best feature when utilizing Invoice Financing is you

choose when you want to draw from the finance resources
and for whatever purpose you deem necessary to apply the finances gained.

If you have a large tax bill due, if you have equipment repair needs or any number of expenses your company may come across Invoice Financing can be your financial lifeline.

Many types of industries rely on Invoice finance to meet their company's financial needs. There can be any number of circumstances that may arise that may cause a business to become cash strapped. It is not necessarily only in bad times or economic downturns that a company may seek external capital sources periods of strong economic growth may put a strain on capital resources. Fast growing companies may need extra equipment to fill orders, you may need to hire on permanent or temporary workers, there may be permits or licenses to be obtained. Any type of need that may arise can be supported with cash flow from an Invoice Finance facility.

Invoice factoring and invoice financing are options for B2B companies — those that sell goods and services to other businesses. It’s a way to manage cash flow when you have slow-paying customers, and it lets your business convert its account receivables — the money owed by customers that has not yet been paid — into immediate cash.

Invoice factoring is not a loan. Rather, you sell your invoices at a discount to an invoice factoring company in exchange for a lump sum of cash. The factoring company then owns the invoices and gets paid when it collects from your customers, which typically happens in 30 to 90 days.

If your business is in need of finance and you are considering Invoice Financing contact a company like NorthWest Finance. NorthWest is a reliable partner and can provide your business with a one time or ongoing Finance Facility.  Your business needs capital your business needs NorthWest Finance.

NorthWest Finance
Minneapolis, St Paul and Nationwide
612-615-8196
www.businessinvoicefinancing.com

Invoice Financing, Purchase Order Financing, Equipment Lease Financing, Merchant Cash Advances