Benefits of Heavy Duty Tractor and Trailers FactoringA tractor trailer is a transport vehicle consisting of a semi-tractor and attached trailer, as the pictures below show. In essence, it’s a large truck with a long trailer attached to its back. However, they include more than just the typical farm tractor, and can also look like this: These trucks can have flatbed trailers, dry van trailers, and even refrigerated trailers. Trailer length typically varies from 45′ to 53′ and width ranges from 96 to 102 inches. Usually made from steel, aluminum, or steel and aluminum combinations, heavy duty tractor and trailers have different suspension and axle settings to accommodate different tasks and satisfy state laws. They’re used for a variety of reasons, including hauling:
- building materials
- flowers and plants
- medicine and health products
- flat, coiled, and channel steel
- home goods
- refrigerated or frozen food
How Truck Factoring WorksTruck factoring, especially in the case of heavy duty tractor and trailers factoring, ensures your company has the proper capital to cover overhead costs, pay employees and contractors, and get the materials your business needs to succeed. [youtube embed=”qJiV27s_-sA” autoplay=”0″ mute=”0″]
Benefit #1: Everyone Gets Paid on TimeIt’s a frustrating situation – for everyone involved. Jim’s been on the road for hours and even delivered the load a bit early. Glad to be done, he calls his supervisor to report delivery. The supervisor pauses for a moment, which makes Jim nervous. Then he says, “Jim, you’re doing a great job… But I simply can’t pay you for another day or two.” Jim’s heart sinks. He’s heard this before. A few days turns into a week, which turns into 2 weeks, which turns into a month. Nobody wants to be in this situation. Jim especially, but also his supervisor doesn’t want late payments. He values his employees and wants to pay them on time and keep them happy and motivated. But there’s a solution here to both sides of the issue: truck factoring.
Sell your invoice to a factoring company, then you’ll have cash ready to use within 48 hours. Then we’ll collect the payment and give you the remainder minus a small fee.
With truck factoring, late payments is a thing of the past. No longer will your hard-working team have to wait 45-80 days to get paid. No longer will you lose frustrated employees due to numerous late payments. Instead, you can keep everyone happy with on-time payments. After you’ve delivered your load, the freight factoring company will pay up to 80% of what a company owes you. A company pays the factory company, who then gives you the difference for a small fee.
Make late payments a thing of the past.
Ever dealt with a company who keeps putting off payment? No one likes to make that uncomfortable call. With a freight factoring company, you won’t have to. Not only will they collect payments, but they’ll also be able to see which companies are credit worthy enough to work with and will handle all calls on payments. Factoring frees up more time for you to focus on delivering quality business that the companies you work with expect.