FirstLine Funding Group – Providing Customers With Cash Flow
MADISON, SD…. When you are a small business, such as a truck owner, sometimes cash flow can become a problem, especially when you wait for settlements to come in. That is why many business owners turn to a factoring company for help. You are essentially “selling” unpaid invoices to the factoring company, who then advances cash on the invoice, keeping a percentage and collecting what is owed. This funding process can be offered on any service that is invoiced to a customer.
FirstLine Funding Group has been providing factoring services for eleven years to thousands of customers throughout nearly all of the lower 48 states. What sets FirstLine Funding Group apart from the other factoring companies is that they are a division of the First Bank and Trust of Sioux Falls, South Dakota, which has been in business for 130 years and is a member of Fishback Financial Corporation. Belonging to a financial institution like a bank means that FirstLine Funding is regulated by the Federal Deposit Insurance Corporation (FDIC). Typically factoring is an unregulated service. FirstLine Funding also has the ability to offer their customers credit services that are available through a bank. The cost of the funding is also a little less than traditional factoring companies.
Interested in learning how the funding process works? Any service that is billed by an invoice can be factored. After delivery of a load, the driver emails or sends a photo of the bill of lading using FirstLine’s app and the company advances 98-100% of the bill directly to the account of choice, for as little as 1% of the invoice. Because they are owned by a bank, FirstLine can also offer advance opportunities for equipment, license plates, repairs and even payroll.
FirstLine Funding Group offers factoring for independent owner-operators to fleets. They even factor freight brokers. New accounts are set up in as little as 24 hours and the employees at FirstLine Funding will help you through the entire process, or you can apply on their website: www.firstlinefundinggroup.com. FirstLine members enjoy additional benefits as well, including fuel cards through Wex Services, which is an EFS card and providing discounts at the pump. With 24/7 access through their online app, FirstLine Funding offers free credit checks on shippers and brokers. FirstLine Funding also awards cash bonuses for referrals.
If your company could use some help keeping your cash flowing, give FirstLine Funding Group a call at 877-609-6717. FirstLine Funding Group has been providing cash flow to their customers since 2009.