{"id":4870,"date":"2021-06-16T14:14:06","date_gmt":"2021-06-16T19:14:06","guid":{"rendered":"https:\/\/accordfinancial.com\/staging\/?p=4870"},"modified":"2024-12-19T14:30:23","modified_gmt":"2024-12-19T20:30:23","slug":"factoring-is-a-great-option-for-the-transportation-industry","status":"publish","type":"post","link":"https:\/\/accordfinancial.com\/staging\/factoring-is-a-great-option-for-the-transportation-industry\/","title":{"rendered":"Factoring is a great option for the transportation industry"},"content":{"rendered":"\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Let\u2019s review how factoring works in the transportation industry. Just like other industries that utilize factoring to finance their business, transportation companies can sell their accounts receivable invoices to a factoring company, and receive an advance as much as 90% of the invoice value.<\/p>\n\n\n\n<p>When your transportation business sells invoices to a factoring company for a fee, you will receive cash on the same or next day\u2014speeding up the cash conversion cycle and enabling management to run the business\u2014instead of worrying about which bills to pay.<\/p>\n\n\n\n<p>Freight, trucking and logistics businesses can take advantage of this cash advance via invoice factoring to support their operating expenses. This alleviates the pressure of dealing with working capital difficulties due to insufficient cash.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How does accounts receivable financing work for transport businesses?<\/strong><\/h2>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>You can also receive a cash advance for your accounts receivable invoices with <a href=\"https:\/\/accordfinancial.com\/staging\/services\/accounts-receivable-financing\/\">A\/R financing<\/a>. Trucking and logistics companies can receive cash by leveraging their accounts receivable balances as collateral for a loan.<\/p>\n\n\n\n<p>Likewise, you can leverage your accounts receivable assets as part of a larger collateral structure to obtain an <a href=\"https:\/\/accordfinancial.com\/staging\/services\/asset-based-lending\/\">asset-based<\/a> loan.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Benefits of Factoring with Accord Financial<\/strong><\/h2>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Accord understands the transportation industry and its unique challenges. We know that small and medium sized businesses are the backbone of the economy and we want to simplify access to capital with flexible financing solutions.<\/p>\n\n\n\n<p>When your transportation business needs <a href=\"https:\/\/accordfinancial.com\/staging\/services\/accounts-receivable-financing\/\">factoring<\/a>, think Accord Financial.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why Accord Financial?<\/strong><\/h2>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>With over 40 years in business financing, Accord Financial is an industry leader, providing business loans and cash advances to businesses in a broad range of industries.<\/p>\n\n\n\n<p>Here are a few benefits of using their services for factoring:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Accord Financial partners with your business to understand your cash needs and customizes freight factoring solutions that best solve your money challenges<\/li>\n\n\n\n<li>Accord provides cash right when you need it, no delays<\/li>\n\n\n\n<li>Get affordable financing fees and rates with Accord Financial<\/li>\n\n\n\n<li>Fast response to your truck and freight business financing needs. Call us directly at <strong>+1-800-967-0015<\/strong> to learn more about accounts receivable financing for your business.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cash flow is a common problem in the transportation industry. The pain point for most transport businesses arises from the mismatch between the cash payments received from customers and the cash payments they have to make for operating expense, especially fuel and labor.<\/p>\n","protected":false},"author":1,"featured_media":4888,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[119],"location":[],"class_list":["post-4870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights","tag-factoring"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>06\/16\/2021 | Factoring is a great option for the transportation industry | Accord Financial<\/title>\n<meta name=\"description\" content=\"Learn more about how transportation companies can leverage factoring to support their cash flow needs, 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