As a trucking business owner, you need the right tools to keep your operations profitable. Two tools that boost your cash flow and savings are using a freight factoring company and a fuel discount card. The impact to your business becomes even more powerful when these two are combined. Learn how getting a fuel card through your factoring provider can significantly improve your operations, from greater cash flow to smarter fuel buying.
What is factoring?
Factoring is a financial tool that converts your freight invoices into fast cash, usually within a day, and minus a small fee. So instead of waiting on broker payments, you’ve got cash in hand to keep your wheels turning.
Benefits of Getting a Fuel Card with Your Factoring Company
There are tons of fuel card options for truckers, but there are additional benefits you receive when you use your factor’s fuel card. Here are a few:
Improved Cash Flow and Savings
It can be rough having to wait on your own money. With factoring, you don’t have to. Finish a load, and boom—payment on the same day. Now add a fuel card to the mix. Your fuel card is now like another account to fund. When you factor your invoices, you can push that money straight to the card for immediate use at the pump. You can even split funds between fuel and your other business accounts. You got paid fast, and now you can watch your savings grow on one of your heftiest expenses.
In many cases, a factoring company doesn’t charge for you to fund your fuel card, so you won’t worry about additional transaction fees moving your money around.
Earn back your factoring fees through your fuel savings
Using a fuel card isn’t just about managing your fuel expenses efficiently; it’s a smart financial strategy that allows you to apply those savings to your entire business operations. With the Triumph fuel card, you may even save more on fuel than you’d spend on factoring fees. This means you’d actually be earning money by signing up for our fuel card. Offsetting your factoring fees with your fuel savings turns a routine operational cost into a larger savings opportunity.
Maximizing Financial Flexibility with Factor-Funded Fuel Cards
By partnering with a factor, you gain the flexibility to manage your finances more effectively, allowing you to fund your fuel card for free! This approach allows you to move funds seamlessly between your fuel expenses and other operational needs, offering the option to split your money between your bank account and your fuel card. This setup simplifies your cash flow management and maximizes your financial resources, ensuring that every dollar is where you need it to be.
Fuel Card and Factoring Solutions from Triumph
Triumph gets trucking. That’s why, with us, you get financial solutions to maximize efficiency, boost your cash flow and bring savings to your fuel bottom line.
Ready to see how much you can potentially save on fuel? Click here to discover how much you could be saving with the Triumph fuel card.