Factoring, Lending, and Fuel Cards
For information on freight factoring or fuel card discounts, don’t hesitate to contact our reliable partner, TAFS, for a quick quote.
The Pivotal Role of Factoring Companies
Factoring involves selling invoices to a factoring company for immediate cash, allowing businesses to maintain a steady cash flow and avoid the usual delays of invoice payment, which can be up to 90 days. This uninterrupted cash flow is essential for covering immediate operational costs such as fuel, vehicle maintenance, payroll, and insurance. It also helps trucking businesses to capitalize on growth opportunities without straining their financial resources.
Therefore, partnering with a reputable factoring company like TAFS is crucial. They can provide advances in as little as 1-Hour, as well as take on the responsibility of collecting invoices, saving trucking companies time and effort. By ensuring quick access to funds and handling debt collection, a good factoring company becomes an integral partner in the smooth operation and potential expansion of a trucking business.
*1 Hour Advance is an option. Timing of advance on approved invoices is approximate and can fluctuate.
TAFS’s F2 Card Opens Big Savings in the Trucking Industry
Fuel prices play a significant role in the trucking business, with diesel fuel expenses accounting for nearly 40% of total costs - potentially over $70,000 per year for a single commercial truck. Discount fuel cards are a viable solution to these high costs, offering substantial savings off the cash price at the pump. However, not all fuel programs are the same, with variations in savings and restrictions on usage at specific travel centers. Other features and benefits of fuel cards can also support improved business efficiency.
TAFS, along with its factoring services, offers the F2 Fuel Card - one of the top industry options due to its partnerships that provide excellent diesel fuel discounts and rebates, extending discounts typically reserved for larger fleets to smaller ones.