Payroll financing is a solution that allows your company to finance invoices and assets so that it can make payroll. It usually refers to a common use of invoice factoring, though it can also refer to other solutions. In this article, we cover: 1. Do you have this problem? Making payroll is one of the […]
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Small Business Purchase Order Financing
One of the greatest challenges for small product wholesalers is getting an order too large for them to fulfill. Large orders are good only if you have the financial resources to fulfill them. If you can’t fulfill them, you risk losing the order – and the customer – to a competitor. Being unable to handle […]
What is a Notice of Assignment? (Invoice Factoring)
A Notice of Assignment (NOA) is a document that factoring companies send to the end-customers of their clients. This document informs end-customers of the factoring financing relationship. Clients usually have some concerns when they learn that a factor will notify their customers. This article addresses these concerns and explains how the NOA works, why it […]
How do Purchase Order Financing Companies Prepay Foreign Suppliers? (Letter of Credit)
Most of our purchase order (PO) financing clients are importers who buy goods from another country and sell them to companies in the US or Canada. Some of these importers usually request that we prepay their supplier by wire transfer. While purchase order financing companies can pay foreign suppliers with a letter of credit, documentary collection, […]
What is a Factoring Company?
Summary: Factoring companies provide financing to businesses that have cash flow problems. They specialize in financing accounts receivable, which improves the client’s cash flow. Smaller factoring companies typically provide invoice factoring as their only service. However, larger providers typically offer additional products, such as purchase order financing, supply chain financing, and asset-based loans. This article […]
Factoring for Auto Transport Companies and Car Haulers
Summary: Canadian auto haulers frequently have trouble finding a factoring company that can work with them. Unfortunately, many factoring companies cannot finance auto haulers due to the risk of cargo damage, claims, and other issues. This article explains how freight factoring works, why auto transport companies are challenging to finance, and how to find a […]
How to Grow a Trucking Company
Growing a successful trucking company takes a lot of hard work and dedication. But, above all, it takes a disciplined approach to make the right decisions and take the right actions. This article helps Canadian owner-operators and small fleet owners accomplish this goal. It summarizes the seven key steps to take to grow your trucking […]
Finance a Freight Brokerage with Factoring
Summary: Running a freight brokerage requires careful management. As a broker, you are in the middle of a transaction, balancing the demands of your shippers and carriers. Aside from the obvious logistical problems, this situation can also create cash flow problems. This article discusses how to finance a growing freight brokerage and solve the most […]
How to Finance a Trucking Company
Every successful trucking company needs to use financing at some point. Growing companies have to buy equipment, pay employees, and handle multiple expenses. Eventually, the owner will run out of funds and use external financing. This article discusses how trucking company owners can finance their two most significant expenses: equipment purchases and operations. It also […]
What is Freight Bill Factoring? How Does it Work?
Freight factoring, also known as freight bill factoring, is a form of business financing in the transportation industry. It helps carriers and brokers improve their cash flow by financing their invoices from slow-paying clients. Factoring provides companies with the funds to operate and grow to their full potential. We cover the following: 1. How does […]