One Stop Shop
Invoice Factoring for truckers
Customer focused factoring
Trucker$ave provides excellent factoring solutions from an industry-leading factoring provider that helps trucking companies meet expenses like payroll, fuel and maintenance that cannot wait for a customer payment. Instead of waiting 30, 60 or even 90 days to get paid, you receive funding on your invoices within 24 hours.
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oilfield service factoring
Trucker$ave provides excellent factoring solutions from an industry-leading invoice factoring provider that helps oilfield services companies of all sizes quickly increase cash flow without taking on debt. As the oilfield market continues to expand, Trucker$ave’s same-day funding solutions enable welding, trucking, drilling and other oilfield services companies to meet expenses and grow at a faster pace.
Funding for All Types of Oilfield Services
Keep it Simple
Customer Focused Factoring
Given the current state of oil prices, many large energy companies and service providers have further extended their payment terms in order to conserve cash. This also comes at a time when financial institutions have begun to shy away from new energy lending and have in some cases begun shrinking or exiting their exposure to Oil Field Service Company credits. This is not a complete list; however, it covers a majority of the companies that should consider whether factoring their receivables can provide them the cash flow they need and to fund expansion opportunities. We invite your interest in our solutions.
Why People Factor
Your company’s needs and opportunity for capital are unique. Clients need funding for a wide range of uses and each company has its own diverse background.
Solutions that can advance cash on your Trucking and Oil Field Service company’s invoices within 24 hours. Factoring, also known as “accounts receivable financing,” gives your company quick access to working capital. This allows you to meet your immediate cash flow needs.
Simply stated, Accounts Receivable Factoring, (AR) is where a third-party funding source, the Factor, buys a company’s accounts receivable in exchange for the company receiving immediate cash. From an accounting view, the company has now replaced the current asset known as accounts receivable with cash. There is no effect on the balance sheet other than to re categorize current assets. Factoring does not increase a company’s debt, there is no equity created or given up, there is no mezzanine financing and no intrusive new management. AR financing is done to expedite and improve a company’s cash flow. Factoring is usually done either as recourse or non-recourse factoring. Recourse Factoring means if the Factor is not paid back on the original invoice the Factor purchased, the Factor resells the invoice back to the original seller, (company). In some cases, the Factor may further require a notice of assignment be executed in favor of the Factor in order to notify the marketplace that the Factor has taken a security interest in that invoice and that the invoice is now to be paid by the buyer (debtor) direct to the Factor.
Insurance and Discount Batteries
Our alliance insurance partners maintain relationships with a diverse portfolio of companies in the transportation space to help our customers with insurance and risk financing options to lower their ultimate “COST OF RISK”. Our lines of competitively priced insurance coverage include.