A new federal law that requires freight brokers to post $75,000 surety bonds went into effect in late 2013. The law’s purpose is to weed out corruption in the freight brokerage industry. It also provides more financial protection for carriers victimized by brokers who do not pay them.
For many companies, factoring (also known as "accounts receivable financing") is an effective way to build up cash flow immediately instead of waiting weeks for customer payments. This free guide from RTS Financial provides an in-depth review of how factoring works, what you should look for in a factoring company, and how factoring can help you improve and expand your business.
Two longtime RTS Financial clients recently talked with us about how their companies have benefited from factoring. These are their stories:
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Cash flow can get tight in the staffing business, when you pay your employees weekly or bi-weekly, but must wait 30 to 60 days on customer payments.
RTS Financial’s customized factoring solutions advance cash on your invoices within a day to boost your cash flow. As one of the best factoring companies for staffing agencies, our goal is to help make it easier for you to meet payroll and expand your company.
RTS Financial has helped numerous textile companies succeed despite a shrinking pool of available bank financing. Many textile and apparel companies have capital tied up in receivables and face a lack of cash flow to fulfill large orders. RTS Financial's factoring solutions advance cash on clients' receivables within a day, helping them to build more working capital and continue to grow.