Invoice Factoring Made Easy for Trucking CompaniesFast. Simple. Reliable. Invoice Factoring Tailored to Your Business
Say Hello to a Smarter Approach to Invoice Lending
If you want your company to grow and thrive, you need to choose a reliable lender you can trust. A bank that has experience and the resources you need to access factoring capital. A bank that offers some of the best rates and quickest service in the industry. Most importantly, your business needs an invoice financing lender who tailors their services to your needs and offers easy-to-use solutions for factoring.
- Easy access to your cash with our streamlined online banking portal
- Personalized attention from a dedicated relationship manager to help with your unique banking and financing needs
- Customized invoice factoring solutions to fit your specific business
Company invoice factoring with TAB Bank is intuitive, smooth, and easy-to-use. Manage your business anywhere, anytime.
We’ve got the resources you need. Hundreds of companies trust us for their invoice loans, and you can too.
Time is money. TAB Bank, you can access your invoice capital in as little as 24 hours after your invoices are received and verified
What is Factoring Invoices?
Are you unsure how invoice financing works? Here’s a crash course in this popular form of financing that can help propel your trucking business down the road of success.
Invoice factoring lines are financial transactions that turn invoices into cash – immediately. In the transportation lending industry, invoice factoring is a widely used method that helps alleviate the waiting period trucking companies experience after invoicing their customers. A major benefit to trucking bill factoring is that you can get instant access to money that you’ve already earned, which enables you to put the capital to use towards your business to make the right moves and grow your company.
Why American Trucking Companies Choose TAB Bank
It takes money to make money.
Manage your business operations anytime, anywhere.
Thrive in the digital age.
Invoice factoring for bad credit.
Minimal documentation required.
Receive world-class customer service.
Transparent invoice factoring services give you peace of mind.
Use your accounts receivable as collateral.
How is Invoice Factoring Different from Business Lending?
Invoice factoring is not a traditional business loan. Rather, it is simply the sale of assets, which are the accounts receivable or invoices. The lender purchases the right to collect a receivable or invoice, when it is paid, in exchange for a fee.
In this type of financial transaction, the factor is depending on your customers to pay. Therefore, a lender is more concerned with the financial credibility of your clients. Factoring companies can collect payment indirectly or directly. If your trucking business has creditworthy customers, invoice factoring can help you access the funds you need without having to wait on customers to pay their invoices.
How You Can Grow Your Business with Truck Company Invoice Factoring
When you get quick invoice factoring lines of credit, this immediate capital can help you fund your business in several ways, including the following:
- Leasing or buying new equipment
- Funding operating expenses
- Paying taxes and payroll
- Opening a new location
- Covering cash flow gaps
- Hiring new employees
- Investing in marketing and advertising
- Managing unexpected business expenses
Are you ready to see if your business qualifies for invoice factoring with TAB Bank?
After enduring a rocky relationship with an out-of-state bank for four years, Interide Transportation decided it was time for a change. After partnering with TAB Bank, Steven Gadd, a co-owner of Interide, said, “…it honestly felt like we had died and went to heaven.” Interide recently needed a large letter of credit and sought the help of both its traditional bank and TAB Bank. Not only did Interide’s traditional bank respond with a rejection, but it took three weeks and phone call from Gadd to get the answer. However, Interide’s experience with TAB Bank was different. “Our banker at TAB absolutely went to work. He got very creative and he made it happen with his creativity and aggressiveness.” Gadd recommends trucking companies should partner with TAB Bank simply because “they understand trucking.”
“TAB Bank has a very dedicated team of professionals who have provided our business with a great experience. They have been quick to help support the growth of our company and continue to work hard for our company.”
“As far as TAB Bank goes, I don’t know what I would do without them. They have definitely made a big difference in our business.”
“Our experience with TAB Bank has been very positive. In today’s economy, it is reassuring to know that there are still financial institutions out in the market that clearly understand the needs and challenges that smaller middle market companies face on a daily basis.”
“I’m not stuck behind a bureaucratic wall of impersonality. We can interact and solve problems in very clear language and make things happen. That’s why I like TAB.”
“Our experience in working with TAB Bank can be summed up in two words – proactive partnership. Without a doubt, TAB Bank is a different bank that makes a difference. Our company is pleased to be working with them.”
“One of the unique things about TAB Bank is that they are a bank that specializes in trucking – at a much higher level than any other bank.”