It is estimated that 15-20% of all trucking companies utilize the services of a factoring company to improve cash flow.
Accutrac understands our trucking business. They go out of their way to help you with great information and advice.
What I like about working with these super talented individuals is their services doesn't suffer even though they keep growing their own business. In fact, our relationship keeps getting better. I think of them as a real partner in our business.
What I like about Accutrac is their personal approach and how well they know the trucking business. They took a personal interest to get to know us and to understand what we were doing. They're very approachable and always available for my questions.
If any business is hesitating about factoring, I say that hesitation isn't warranted if you're dealing with Accutrac. They're not like other factoring companies. They're professional and understand our business. I can't say enough good things about them.
What impressed me most about Accutrac, in addition to being really good at what they do, is that they genuinely cared about helping us to be successful...
I can't say enough good things about how Accutrac Capital has solved our rapid growth cash flow issues. They've really allowed us to move to the next level of growth…and the results prove it! – Tal Hayek, Co-founder and CEO, AcuityAds
Very simply, it is the practice of selling your invoices at a discount in exchange for immediate cash. It's easier to obtain than a bank loan and provides immediate access to cash, usually within 24 hours. Factoring invoices to access immediate operating capital is a common business strategy and one of the fastest growing financial services in a rapidly changing global market.
Qualification for receivables factoring is easy as it is largely based on the credit worthiness of your customers, not your personal credit or the financial strength of your business.
Accutrac Capital provides financial solutions to:
If you have receivables from credit worthy customers, we can help.
Factoring is a powerful alternative financial solution that converts your account receivables to instant cash. Factoring services by Accutrac Capital is accessible to most companies with credit worthy customers and easier to obtain than a bank loan. Once your account is activated with us, we will advance funds as quickly as you generate invoices.
|Qualification:||Bank Loan: Qualification is based on the financial performance of your company and your personal credit history.
Factoring: Qualification is based largely on the creditworthiness of your customers.
|Security:||Bank Loan: Bank loans usually require hard assets to secure their loan such as a building, equipment or personal assets like your home.
Factoring: Your receivables become the security; no other hard assets are required.
|Time:||Bank Loan: Banks often take weeks, even months to approve a loan.
Factoring: Accounts are approved within days of receiving an application.
|Credit Info:||Bank Loan: Banks do not provide credit insights to their customers.
Factoring: We provide unlimited access to credit reports and help you to understand the information. This will help to prevent bad debt.
|Covenants:||Bank Loan: A bank usually requires restrictive covenants to govern the terms of the loan such as restricting the amount of debt a company can take on to buy equipment. This often restricts the growth of a company and ties the hands of the owners.
Factoring: No restrictive covenants exist in a factoring agreement providing maximum control and flexibility to the owner.
|Payment:||Bank Loan: Bank loans require regularly scheduled payments of principle and interest.
Factoring: Accutrac Capital has the lowest rates in the industry. Our factoring fees are deducted from the transaction making the cost of factoring simple, easy to manage and affordable.
|Receivables Management:||Bank Loan: You are responsible for the ongoing collection and management of your receivables.
Factoring: Professional Account Managers monitor and collect on your behalf, removing the headache of managing your receivables.