You haul freight across the country every day to keep America’s economy moving. What if a customer doesn’t pay? An accident damages your car? Will health care costs go up? When you work as a trucker, financial uncertainty is part of the journey.
Don’t let money concerns distract you from your goal. HMD Financial offers customized factoring solutions that provide truckers like you with financial certainty on the road. We buy your trucking invoices so you get paid quickly, even if customers are dragging their feet. We offer risk protection in case life gives you an unexpected surprise. And most importantly, we let you focus on what really matters – delivering every shipment safely so you can move toward success.
Factoring as a Risk Management Tool
As an owner-operator, your trucking business faces many financial risks that can disrupt your cash flow and hurt your bottom line. Factoring is a useful tool for managing these risks.
How Factoring Works
Factoring companies, like HMD Financial, purchase your accounts receivable at a discount, providing you immediate access to cash. We evaluate your customers and take on the risk of collecting payments, freeing you to focus on your driving operations.
Benefits of Factoring
Factoring offers many benefits for truckers:
- Improved cash flow. Get paid within 24 hours instead of waiting 30-90 days for customers to pay invoices.
- Risk mitigation. We thoroughly assess your customers and assume the risk of non-payment or slow payment. You get paid regardless of whether your customers pay.
- Conserve capital. Why use your own money when you can leverage ours? Factor only as needed to meet immediate obligations.
- Focus on your business. Let us handle collections and accounting so you can focus on maintaining your truck and finding the best freight opportunities.
With factoring, you can move confidently toward success without experiencing financial hardship. Our company offers a risk management solution tailored to your needs so you can get your business on the right track.
HMD Financial’s Customized Approach
Factoring with HMD Financial gives you flexibility and control. We offer recourse and non-recourse factoring so you can choose the level of risk you’re comfortable with. Recourse factoring means we assume the risk of your customers defaulting on payments. Non-recourse factoring transfers that risk to us so you get paid upfront.
We also provide spot factoring or contract factoring depending on your cash flow needs. Need a quick boost in cash for new equipment or an opportunity? We can spot factor a few invoices. For ongoing support, a contract factoring agreement ensures you have steady funding over the long haul.
Your Success is Our Success
We see ourselves not just as a supplier, but as your reliable partner. Your success is our success, so we do everything we can to keep your business moving in the right direction. We make the financing process fast and seamless so you can focus on running and growing your company.
We are ready to offer a factoring solution for your trucking company today. We will assess your needs, risks and opportunities and develop a plan that will fuel your growth and give you the financial confidence to take your business in any direction. With our company, you have the strength and confidence to accomplish your goals.
Benefits of Partnering with HMD Financial
Working with a factoring company offers a number of benefits to truckers looking to protect their business.
Stable Cash Flow
Our company offers factoring solutions to meet your needs. We buy your bills of lading and immediately advance you the majority of the amount owed. No more waiting 30-90 days for payment! With a steady cash flow, you can focus on your work and growth rather than chasing payments.
In the trucking industry, risk is everywhere – rising fuel costs, cargo damage, client nonpayment. HMD Financial assumes these risks for you. We thoroughly vet all of your clients before offering factoring services to ensure their ability and willingness to pay. If a client fails to pay for any reason, we take the loss—not you. This gives you true peace of mind out on the road.
Running a trucking business is hard work. We take care of the financial issues so you can take care of the details that really matter – keeping the wheels spinning! Our simple online portal makes it easy to submit freight bills, track payments, and monitor account status 24/7 from anywhere. Have questions? Our dedicated support team is always available to help in a respectful manner.
We offer customized risk solutions for trucking companies. By partnering with us, you can move into the future with confidence knowing that your cash flow and finances are protected. We’re in the business of easing your worries so you can focus on success.
At the End
Factoring is a smart choice. You can hit the road without worrying about payments. Focus on driving and growing your business, not checking invoices or making stressful financial decisions. With factoring solutions tailored to your needs, you get a trusted partner who takes on the risk while you get to drive. Your financial confidence is assured.