The image is a vertically arranged infographic with distinct sections separated by bold headings, graphic illustrations, and icons, using a green and white color scheme.

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Factoring means flexible, quick access to credit for trucking companies

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Factoring is an effective option for trucking companies to quickly increase cash flow by using unpaid invoices to secure a line of credit from a trusted lender.

Section 1: What is factoring?

Main Text: Factoring operates on a simple principle: Businesses leverage unpaid invoices to secure a line of credit from a financial institution.
Subtext: Long used in areas from textiles to manufacturing and transport, factoring offers a useful option to companies that need to increase available cash on hand.

Section 2: Why do trucking businesses turn to factoring?

Bullet Point 1: Unexpected bills and delays in accounts receivable can make financial management difficult for all trucking companies, even if they have strong financial outlooks.
Bullet Point 2: Acting on growth opportunities can require the quick receipt of additional funding, a need facilitated by factoring.

Section 3: How does factoring help my business?

Bullet Point 1: By guaranteeing available credit at a specific time, factoring means quicker, more reliable access to money when it’s needed—a very useful option for both new and established organizations.
Bullet Point 2: Factoring is functionally identical to collecting your own accounts receivable in terms of how the money is used. Funds from factoring can apply to any business expense.
Bullet Point 3: Top-tier lenders offer especially fast timelines for factoring approval. TAB Bank offers a less-than-24-hour turnaround for application review and delivery of funds.*

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Sources: tabbank.com/factoring
*Subject to credit approval. If approval is not received, we will contact you regarding the status of your application. At any time, even if you received a message of approval, we may rescind any approval or offer of credit, decline to make advances requested, or terminate the loan without prior notice if we reasonably believe that the information supplied to us in the application or otherwise is not accurate. For questions regarding your application, please call us at 1-877-440-3725.