There are many components to choosing a factoring company that is right for you. It’s essential to review things such as their time in business and online reviews. But beyond that, it’s important to know if their contract length works for you and your business and if there are any hidden fees or termination agreements. Working with a freight factoring company has the potential to streamline your company’s cash flow so it’s important to work with the right one.
Choosing a Factoring Company that best fits your needs
Every factoring company is diverse in the way that it does business and in partnering up with smaller companies. Some factoring companies serve various industries while others only focus on a specific target niche. No company is one-size-fits-all. For example, at Engaged Financial, we understand the pressures for trucking companies and provide fuel cards so truckers can benefit from a necessary expense. The time that a factoring company has spent in business is also important when figuring out its industry expertise. Are they a new company or do they have years of experience? Choosing a trucking freight factoring company that has experience and expertise in your industry is detrimental to the growth of your business. So is choosing a freight factoring company that offers transparent reporting and is up to date with modern software. At Engaged Financial, we know the value of being able to have tools that include cloud-based factoring software and providing detailed reporting of fuel savings along with other critical customer management needs. We also provide customers with the business credit reporting through credit data software and provide real-time access to global databases for companies of any size, industry, and market.
Contract Length and Hidden Fees
At Engaged Financial, we believe in transparency and no hidden fees. It’s important for every business to have all of the information especially regarding pricing and contracts before choosing a factoring company. We do not believe in charging factoring fees that diminish your profits. We want to help you save, earn and grow. We provide competitive rates tailored to your business and needs. Request a free quote today for a personalized quote from one of our agents.
Customer Reviews and Satisfaction
What other people have to say about a business can be enlightening as to what your experience with a company will be like. Sources like Google Reviews and Better Business Bureau (BBB) host plenty of customer reviews about specific factoring companies. Choosing a highly-rated freight factoring company and knowing consumer reviews can save you and your business a lot of time.
See how Engaged Financial Can Help Your Trucking Business
Engaged Financial understands that each business is unique, and it’s important to find a trucking factoring company that suits your specific needs. We provide competitive rates tailored to your business and needs. Request a free quote today for a personalized quote from one of our agents. No matter which route you choose, ensure you do your research to make sure the trucking factoring company you choose will work with your short-term cash flow goals in mind.