"Finding quick cash from an MCA (merchant cash advance) company is extremely expensive and places additional burdens on the trucking company that already faces tight profit margins." A great read from our Chief Operating Officer Kimberly Fisk.
The transportation industry is a vital sector for factoring, and its challenges have grown in recent years. In IFA's latest blog post, Kimberly Fisk, Chief Operating Officer at Triumph's Factoring Division and IFA Advisory Board Member, shares her perspective on navigating the current freight recession that has impacted trucking companies across the nation. With many companies struggling to manage costs and maintain profitability, Kim emphasizes the importance of building strong customer relationships and diversifying your client base. She also highlights practical strategies for optimizing savings and cash flow, including the benefits of factoring as a financial tool that can provide immediate capital and reduce administrative burdens. Click to read more:?https://lnkd.in/eXe2vFAG #factoring #transportationfactoring #InternationalFactoringAssociation
Great article, Kimberly Fisk