Phoenix AZ (PRWEB) July 8, 2008
Freight Factoring Company, Phoenix Capital Group, is providing truckers with the means to survive in a down-turned economy. Phoenix Capital Group (PCG) is a one-stop transportation services provider. PCG's services include factoring, equipment financing, truck factoring, and fuel cards.
"The current state of the economy, but in particular sharply rising prices, can cause serious cash flow problems for those in the trucking industry," says Donald Broughton, a transportation industry analyst at the investment firm Avondale Partners. "Carriers typically are not paid for their deliveries until well after they are made, leaving the trucking companies, and/or individual owner-operators, carrying hefty out-of-pocket expenses for six weeks or more."
This is where Phoenix Capital Group, a Freight Factoring company, can help. Basically, Freight Factoring is the process of a trucking company selling its invoices to a third party at a slight discount. The trucking company then receives its money right away and can use the positive cash flow to not only maintain but also expand their business.
A downward economy can really hurt the trucking industry. During the first three months of this year; 935 trucking companies filed for bankruptcy, according to Avondale Partners research. "That's the highest failure rate seen since the economic slump of the early 2000s," said Broughton. It is estimated that more than 42,000 long-haul trucks, roughly two percent of the nation's fleet of about 2 million, were idled during the quarter.
Thus, Freight Bill Factoring is now becoming more popular with trucking companies to reduce cash flow issues. By Truck Factoring, the trucking company then receives its money right away and can use the positive cash flow to not only maintain but also expand their business. The important distinction of factoring is that it is not a loan; it is a form of asset based lending or accounts receivables financing. The trucking company does not pay any interest on the Freight Factoring, which it makes factoring even more lucrative for trucking companies.
For more information on Factoring, Freight Factoring services, or Phoenix Capital Group, please call (623) 298-3456, fax (623) 298-5715, or visit their official website. Individuals and companies in need of Freight Factoring Services are invited to apply online with no application fee and have an account set up in 24 hours.
For More Information:
Phoenix Capital Group, LLC
1606 West Whispering Wind Drive
Phoenix, Arizona 85085
Tel (623) 298-3456
Fax (623) 298-5715