When was the last time your trucking company was forced to wait up to 2-3 months for a client to pay their invoice? In the trucking industry, this is far too common and is often the reason most trucking fleets won’t last very long. After all, your business expenses are due now — not in 2-3 months.
While all trucking companies can benefit from freight factoring, not all companies will have the option due to their company’s location. For companies in Mexico, most of the best freight factoring companies won’t serve trucking fleets in Mexico and won’t be able to deal in pesos.
However, with RTS Inc., freight factoring in Mexico has never been easier. RTS International is a subsidiary of RTS Inc., extending their services to companies across the southern border because those companies need it just as much as in the United States.
If you’re new to freight factoring, don’t worry, we’re going to break down everything you need to know and how to sign up for freight factoring in Mexico.
Freight Factoring: The What, Why, and How
To put it simply, freight factoring is essentially a lifeline for a trucking company. Where most companies are stuck waiting 30-90 days for payment on an invoice, freight factoring can get you a majority of that money with one day — doesn’t that sound nice?
When you sign a contract with a factor, you’ll receive an advance on any accepted invoices and the money will arrive in your account on the same day. Once you send an invoice to the factor, they’ll fund you 75-90% of the invoice and you can go about your day like usual.
The best part about freight factoring is you don’t have to worry about collecting payment from the client. The factor assumes responsibility for the invoice, collects payment from the client, and then sends you whatever is left after the advance — minus a small fee. If you’re worried about the fee, most freight factoring companies take less than 1% of the invoice.
Is Freight Factoring Available in Mexico?
With RTS International, freight factoring in Mexico has never been better or easier. They offer easy applications with a majority of the work being done online. Outstanding customer service and bilingual representatives are available to help you with your application process.
If you do a lot of deliveries and business in Mexico, or if your company is based in Mexico, you can find relief just like anyone else. Your trucking company is just as important to the economy and will need the same amount of help as any other trucking company.
Thanks to RTS International, you can even receive the various other benefits that come with freight factoring. Fuel cards, discounts on truck maintenance, roadside assistance, and much more. These services are designed to help keep your business functioning no matter what obstacles you encounter.
Contact us today if you’re looking to be matched with the best freight factoring in Mexico — we’ve got the answers for you!
References
“Factoring for Trucking Companies in Mexico.” RTS, www.rtsinc.com/product/trucking-factoring-mexico.
“Turn Invoices into Immediate Capital.” International Factoring, Accounts Receivable Financing and Trade Finance | RTS International, www.rtsinternational.com/page/factoring-accounts-receivable-financing.