We provide comprehensive factoring for trucking companies in Chicago, IL.
Freight Bill Factoring in Chicago, IL
The trucking industry serves businesses across every industry in Chicago, IL. Larger carriers, small trucking companies offering last mile delivery, and owner-operators work hard to make sure shipments are delivered on time. At Single Point Capital, we understand that the business world is progressing at a faster rate, and local carriers shouldn’t be hindered by staggered payment schedules of 30, 60, or even 90 days. For these reasons and more, we are committed to providing the fastest and most comprehensive freight bill factoring services in Chicago, IL. Our clients immediately see a boost in cash flow and are able to build up capital to not only maintain operations, but to make plans for growth and long-term success.
Optimize Your Cash Flow
Owner-operators and trucking companies in Chicago, IL carry loads for shippers, brokers, and direct customers. For each shipment, an invoice is generated with a staggered payments schedule of 30, 60, or 90 days. While this is a standard business practice, staggered payment schedules can place a severe strain on cash flow and cause gaps in revenue. While carriers are waiting on payments, they still have to pay for fuel, make payroll, and cover overhead expenses. Freight bill factoring from Single Point Capital eliminates staggered payment schedules by converting unpaid invoices into cash within a single day. The end result is a tremendous boost to cash flow so carriers throughout the Chicago area can focus on running their trucking businesses without worrying about payments from customers. Our freight bill factoring services for carriers in Chicago, IL feature:
- Receivables to cash within a single day
- No debt on the balance sheet
- Free credit checks on qualifying customer accounts
- No upper limits
- Free to sign up
- Fuel and insurance benefits
Say Goodbye to Short-Term Loans
Staggered payment schedules often lead to uneven revenue cycles, which prompts freight carriers in Chicago, IL to take out short-term loans to smooth things out. The side-effect is that the debt from those short-term loans places a greater strain on cash flow and lowers credit ratings for carriers in the process. Freight bill factoring from Single Point Capital does not place any debt on the books, so local carriers can boost cash flow and build up capital reserves without impacting their credit ratings. By factoring receivables with us, your trucking business can pivot away from debt-based financing.
More Benefits for Carriers in Chicago, IL
Single Point Capital is a leader in freight bill factoring. Carriers in Chicago, IL get additional benefits when they sign up for our factoring services. We offer a quite of tools to help local carriers keep track of payments, and the ability to check on the creditworthiness of their customers. We also offer major discounts on fuel, assistance with insurance, and our team will help those clients who are trying to launch their own trucking companies in the Chicago area. We are constantly improving and expanding our services for carriers.
Get Started Today
If you are an owner-operator or fleet owner in Chicago and want to take advantage of all the benefits of our freight bill factoring services, contact Single Point Capital today.