Developing new technology products and services can take months, if not years. Factoring your company’s receivables is a reliable way to build more working capital to meet expenses and help fund hi-tech innovations.
Contracts in the aviation industry can be lucrative, but the payment cycles are often a drain on cash flow. For many companies providing parts, maintenance and overhaul work in aviation and aerodynamics, an asset-based loan is not enough to keep pace with sales.
Running a construction business requires a steady stream of working capital to meet payroll, maintain equipment, buy materials and address other expenses. RTS Financial provides factoring solutions that build up cash flow for contractors and subcontractors across all areas of construction. We understand the seasonal nature of the industry and the need for companies to ramp up operations quickly.
As the owner of a small or start-up business, you may not have access to a line of credit or other forms of traditional financing. Additionally, you may need to quickly build up cash flow in order to meet expenses and grow your company.
Regardless of who gets elected in November, one thing you can be sure of is that the government will continue to spend big money on contracts.
Last year, the federal government spent an estimated $439 billion across 31,000 contracts. That amount does not even include the billions of dollars that state and local government agencies spend each year.
Are you on the fence about factoring? Perhaps you need to build up your company’s cash flow, but you are concerned about committing to an agreement with a factoring provider?
Below are six quick facts that might ease your mind about factoring as a financial tool. To learn more about how factoring works, you can also read our free resource, Your Complete Guide to Factoring.
For more than 20 years, RTS Financial has provided factoring services for trucking and transportation companies. Even though there are hundreds of other factoring companies to choose from, many trucking fleets have continued working with us for many years. Building long-term relationships with clients has always been a priority and a key to RTS Financial’s success.
Below, some of our clients describe the four major reasons why RTS Financial provides a superior factoring experience:
In today’s challenging freight market, you need to do more than check the load boards to find hauls that pay well enough for your fleet to make money.
Low fuel prices and plenty of capacity have created a shipper’s market in trucking. As of May 2016, spending on freight was down 10% from last year, according to the Cass Freight Index. Succeeding today requires a strategic approach to finding loads and the discipline to pass on shipments that might not help your business.
In 2014, trucking was in pretty good shape. An increase in shipping demand, combined with a shortage of trucking capacity, helped boost load rates and drove more revenue for most carriers.
Today, the trucking industry is in the middle of a slowdown. A mild winter in early 2016 did nothing to increase freight tonnage from shippers who are skittish about the economy. Today, instead of a capacity shortage, there are plenty of trucks and equipment available, fuel is still cheap and load rates have taken a hit.