How Does Freight Factoring Work and the Simplicity of Our Process
In our previous article, we explained what factoring is and the benefits it offers your business. Now, let’s dive into how factoring works, the administrative burdens it alleviates, and the simplicity and advantages of our process at Source Funding.
Our Simple and Efficient Factoring Process
At Source Funding Inc., we’ve streamlined the factoring process to make it as simple and efficient as possible:
Submit Your Invoices: Upload your unpaid invoices through our easy-to-use online portal. This quick process allows you to focus on running your business.
Invoice Verification: We swiftly verify your invoices to ensure they are valid and ready for factoring. Our efficient verification process saves you valuable time.
Receive Immediate Funds: Once verified, we advance you a significant portion of the invoice value, typically within 24 hours. This ensures you have the cash flow needed to keep operations running smoothly.
We Handle Collections: Our expert collections team takes over, collecting payments from your shippers or brokers. This allows you to concentrate on growing your business instead of chasing payments.
Receive the Remainder: After collecting the full invoice amount, we release the remaining balance to you, minus our small factoring fee. Our transparent pricing means no hidden fees.
Why Source Funding?
- Simplicity and Speed: Our streamlined process ensures quick access to funds without unnecessary delays.
- No Hidden Fees: Transparent pricing with no surprises.
- Dedicated Support: We provide exceptional customer service and treat every invoice with priority.
- Flexibility: Choose which invoices to factor and when, giving you full control over your cash flow.
Get Started Today!
Don’t let cash flow issues hinder your business. Contact us today to learn more about our freight factoring services and how we can help your business thrive.
