There are few industries that are as cash flow intensive as the trucking industry. The list of ongoing expenses can be endless and many times overwhelm small and medium sized trucking companies. With rising fuel expenses, truck repairs, rentals and salaries, few can afford to wait the usual 30 to 60 days for payment.
Spectra Financial's Factoring Program allows you to turn your current invoices/freight bills into immediate cash eliminating the wait. We provide you with the funds to make critical payments to employees and suppliers. Spectra Financial's factoring program is very easy to qualify for, quick to set up and inexpensive to use.
The Process
- Submit your signed freight bill of lading and invoice to Spectra Financial.
- We advance you up to 90% of the invoice/bill of lading.
- Once the invoice is paid, we rebate the remaining reserves, less our fee.