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The transportation sector and trucking industry are broader in scope than many industries. It meets the need for moving passengers, cargo, and information as efficiently as possible. Airlines and air freight, motor carriers, marine, freight companies, road and rail, including OTR trucking, all play a role in the ultra-competitive transportation industry.

Managing cash flow is vital to all transport and trucking companies. You still have to make payroll, cover repairs and maintenance, pay for fuel, manage all trucking operations and equipment financing, and bear the costs of day-to-day business expenses. Wait too long to get paid on your customer invoices, and your business can come to a screeching halt.  

Small business factoring for transportation and trucking companies solves cash flow problems and gives your business the financing and working capital to meet your obligations and goals.

FREQUENTLY ASKED QUESTION

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BlankVentures provides working capital based on the size of purchasing invoice.

  1. Transportation companies submit approved unpaid invoices to BlankVentures.
  2. BlankVentures purchases your qualified unpaid invoices, and advances up to 100% of the expected net collectible value.
  3. BlankVentures waits for invoices to be paid by your customers. 
  4. BlankVentures pays claims to you in as little as one day.
  5. Your company receives up to the remaining 20%, minus a fee (based on invoice terms). 

BlankVentures is an industry leader in freight bill factoring. By leveraging technology to automate the payment of your outstanding invoices, BlankVentures can provide you with a funding limit and process your invoices in as little as one business day. The amount advanced varies based on the claim amount and the size of your transport company.

If you’re in the transportation industry, you are a carrier or own a trucking company, it doesn’t take long to notice the gap between completing a job and getting paid. It may be common to extend terms to valued customers, but waiting 60 to 90 days to get your money can disrupt cash flow and stunt growth.

And, that only adds to the other challenges you may face, like: 

  • Securing supplies 
  • Long transport and storage times 
  • Fees for transport 
  • Cargo and delivery delays
  • Government regulations 
  • Fuel and labor costs 
  • OTR tolls and permits 
  • Downturns in the economy

 

Transport invoice credit is not a loan. It is an advance on the value of your accounts receivable invoices. It is one of the best ways to solve the imbalance between completing a job and getting paid by unlocking liquidity for your business. 

Based on the terms of your invoices, you are charged a monthly fee—as low as 3%. You can fund invoices of any size with BlankVentures.

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