Deciding to support your business with a factoring company relationship is a big decision. The right organization can radically improve your financial situation and business plans. The wrong organization can do just the opposite.
you’re right to want to dig deeper.
we want to help. below are a few questions we believe you should be asking about any factoring company you’re considering. even if you wind up choosing another organization (although we can’t see how you would), first financial factoring is always available to you to help explain this financial instrument and how factoring can, with very little cost or effort, absolutely transform your cash flow and ultimately your business.
call us anytime with any kind of question at 1-866-654-8314.
now, here are those questions to which you should know the answers:
1. does a factoring company have experience in my industry?
2. how long will it take to fund me the first time?
3. how difficult is the approval process?
4. does a factoring company charge per-item fees, per commission fees, administrative fees, minimum monthly fees, per diem fees, application fees or any other hidden fees?
5. is it a large size financial institution or does it depend on a bank credit line?
6. does a factoring company own any other business or businesses related to my industry?
7. how long it will take to write me a proposal?
8. is a company committed to customer service?
9. is a company’s software adequate and modern?
10. will a company go over the closing documents with me?
11. does a company charges up-front fees to close and fund my account the first time?
12. does it require minimum volumes per month or certain sizes of invoices?
13. how frequently does it disburse my reserve (remaining balance) to me?
14. how long will it take to advance my company funds against its invoices, once i am a client?
let first financial factoring answer all your questions for free.
Compared to other financial institutions, First Financial Factoring has unique experience in trucking that enables us to get better terms and pass them on to you. Bottom line, we charge you the lowest rates and deliver the best advance rates in the business.
Drivers and owner-operators who get paid on time deliver better and more consistent service to your customers. Your financial reliability to them means having a team that will watch your back.
When you can forget about chasing down invoices, juggling payments and generally sweating the financials, you can concentrate on how to take your freight business to the next level.
Our careful screening and approval of your customer’s credit means you never pick up a load until you know payment will be there.
With factoring, your company incurs no debt. Your balance sheet looks good to other financiers and that improved credit rating leads you to develop your trucking operation however you see fit.
The flexibility that our reliable cash flow provides you the power to expand your business a little or a lot and bring in more revenue.
No more collection agencies. No more tough-to-make client calls. One of our professionals will be dedicated to managing all your open invoices.
When you can afford to work with bigger organizations who tend to require 30 to 45 day payment schedules, those high paying brokers and shippers give you more business and better terms.
A predictable cash flow that covers your daily expenses like diesel, repairs, and permits, helps avoid costly fines, penalties and bank overdrafts.
50 years on the job with every conceivable kind of trucking company gives First Financial Factoring the background to make things go faster and smoother, keep your customers happier, and bring you greater value every day.
We’re prepared to customize large or small business factoring plans for every new client, and we can even offer international.
