MILTON, Ont. — The Transportation Software Company and Interstate Capital Corp. have launched the TSC Financial Services Factoring Program.
The program is designed to collect payments on outstanding invoices and provide trucking companies with immediate capital. The companies behind the new program say they will offer some of the lowest factoring rates and highest advances in the industry.
Factoring companies collectively collect more than $100 billion for their clients each year, according to estimates by the International Factoring Association. Small and large fleets alike are ideal candidates for factoring, the companies behind the TSC Financial Services Factoring Program say, because they constantly require capital.
“This is especially true in capital intensive industries such as trucking where driver payroll, fuel, insurance and lease payments come due long before the corresponding payments are received 30, 60 or more days after the load is delivered,” said Roy Thacker, CEO of The Transportation Software Company. “Our program helps transportation company owners bridge that gap.”
“Factoring has really come a long way in recent years. It has become a mainstream fixture in capital markets because credit decisions are based on creditworthiness of our client’s customers, not the financial position and history of their company,” adds Tony Furman, president of Interstate Capital Corp. “This gives us the flexibility to fund many companies that traditional lenders would not consider such as start-ups, rapid growth situations, and companies that have experienced temporary financial setbacks.”
More information is available at www.truckware.net.
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