Transfac Provides Specialty Financing for Trucking Companies
Transfac Capital, a specialty finance company providing accounts receivable financing to small and mid-sized companies, announced the continuing growth of its specialized services and programs, designed specifically for small trucking companies with one to five trucks.
Sheila Ousley, business development manager of the Transfac Capital Portland office, manages Fund My Freight, Transfac Capital’s freight financing program designed to facilitate financing for single truck owner/operators and small trucking companies.
Fund My Freight provides dependable cash-flow and convenient services to aid in the growth of small trucking companies when traditional factoring is unavailable. Freight factoring is just one of Transfac Capital’s specialty financing programs. Transfac provides many other services to small owner/operators of small trucking companies, to include a fuel card program that provides fuel discounts, online reports of the fleet’s transactions, 24/7 access to the company’s database of brokers and shippers and load board lists, all of which assist the trucking company in efficiently managing daily business.
“In this slow but recovering economy, the rising price of fuel and goods creates a number of challenges for trucking companies. This is especially so for owner operators who have cash flow issues when the businesses they service do not pay their invoices timely. This leaves these small trucking companies to fund their operating expenses out-of-pocket until the invoices are paid, which can be crippling to a small business. Transfac Capital will step in and purchase these outstanding invoices from the trucking companies, allowing them to significantly improve their cash-flow. Simply put, freight factoring/freight funding has become the financial stepping stone for small transportation companies that help ensure their financial success. We see an increasing need for factoring services in our current economy, and are able to provide funding within as little as 24 hours,” stated Ousley.
The Fund My Freight program is headquartered in Transfac Capital’s Portland office and services owner/operators nationwide. To learn more about the Fund My Freight program go to www.fundmyfreight.com.