Welcome to TMG, your trusted partner in freight factoring. As a leading provider of financial solutions tailored for the transportation industry, we understand the unique challenges faced by trucking companies and owner-operators. Our comprehensive freight factoring services are designed to empower your business, providing the financial flexibility you need to thrive in a competitive market. If you have any specific questions, please reach out to our team here so that we can assist you.
What is Freight Factoring?
Turning Invoices into Cash
Freight factoring, also known as invoice factoring, is a financial arrangement where a company sells its accounts receivable (unpaid invoices) to a third party, known as a factoring company. In the context of the trucking industry, this means you can convert your outstanding freight invoices into immediate cash. Instead of waiting for customers to pay, you get paid upfront, allowing you to cover operational expenses and invest in the growth of your business.
Why Choose TMG for Freight Factoring?
Same Day Funding
We understand the importance of quick and reliable access to funds. With our Same Day Funding option, you can receive the money from your invoices on the very day they are submitted. No more waiting for weeks or months to get paid – keep your cash flow consistent and your operations running smoothly.
Flexible Solutions
Every trucking business is unique, and we recognize the need for flexibility in financial solutions. Our freight factoring services are tailored to fit the specific needs of your business. Whether you’re an owner-operator or managing a small fleet, we have the expertise to customize a factoring program that aligns with your goals.
No Hidden Fees
Transparency is a cornerstone of our commitment to your success. With TMG, you won’t encounter hidden fees or unexpected charges. We believe in straightforward and honest communication, ensuring that you have a clear understanding of the terms and costs associated with our services.
We find the best factoring deal for you, so that you don’t have to. We work directly with several factoring companies, and create a factoring program that works best for you and your company.
How Freight Factoring Works
Simple and Efficient Process
- Submit Your Invoices: After completing a delivery, submit your freight invoices to us.
- Verification: Our team conducts a prompt verification of the submitted invoices to ensure accuracy.
- Receive Funding: Once verified, we transfer the funds directly to your account, providing you with immediate access to working capital.
Focus on Your Core Business
By outsourcing the task of managing accounts receivable to our company, you can redirect your time and resources to what matters most – running your trucking business. Say goodbye to the hassles of collections and hello to a streamlined financial process.
Benefits of Freight Factoring
Improved Cash Flow
Freight factoring significantly enhances your cash flow by eliminating the waiting period for customer payments. The immediate infusion of funds allows you to cover operational costs, invest in growth opportunities, and navigate the dynamic landscape of the transportation industry with confidence. Factoring can be utilized by every factoring company, no matter if you have 1 truck or 100 trucks.
Credit Enhancement
Partnering with Transportation Management Group provides an added layer of credit enhancement. Our factoring services include evaluating the creditworthiness of your customers, helping you make informed decisions and avoid potential risks associated with late or non-payment. This way, you do not have to worry about hauling for a debtor that may not pay.
No Debt Incurred
Unlike traditional loans or lines of credit, freight factoring doesn’t create additional debt on your balance sheet. By selling your invoices, you’re accessing funds without taking on long-term financial liabilities, providing a flexible and debt-free financing solution. Unlike a loan that you have to pay back, the factoring fee is taken straight out of the invoice.
For example, if you haul a load for $1,000, and you factoring fee is 2%, then you will receive $980 the same day you deliver. The factoring company will give you the $980, and keep $20 for the factoring fee. Then the factoring company will wait the 30, 45, or 60 days for the debtor to pay.
Get Started with Transportation Management Group
Seamless Onboarding
Getting started with TMG is a straightforward process. Our team is dedicated to ensuring a seamless onboarding experience, and we’re here to assist you at every step. From submission to funding, we prioritize efficiency and clarity in our interactions. To reach us directly, please call 931-273-2301.
Contact Us Today
Ready to experience the benefits of freight factoring with TMG? Contact our team today to discuss your specific needs and explore how our tailored solutions can elevate your trucking business. Whether you’re an established fleet or a growing owner-operator, we’re here to support your financial success on the road.
Trust TMG for Your Freight Factoring Needs
At TMG, we take pride in being a trusted partner for trucking businesses seeking reliable and efficient freight factoring solutions. Our commitment to transparency, flexibility, and same day funding sets us apart in the industry. Join the many businesses that have experienced the financial empowerment of partnering with our team. Your success on the road begins with us.
Do you have more questions about factoring? Check out TMG’s blog for more information on freight factoring :