Owner ops should consider factoring to increase cash flow

Photo by Markus Spiske on Unsplash

It takes more than a CDL and driving skills to manage a successful trucking business. Business owners know there are a variety of tasks needed to keep the business running smoothly. It also doesn’t matter at all how excellent the shipping service is… if the driver isn’t paid for it - timely or at all.

Factoring is a viable option for owner-operators in order to focus on driving, and less on collecting. A third-party factoring company will process and track every invoice for you and make sure payment is issued, one way or another.