Business Factors & Finance unveils payment protection service
Business Factors & Finance has announced the launch of Freight Payment Shield, which it describes as a premier payment protection service for trucking and transportation companies, as well as for small and medium-sized enterprises (SMEs) sending and receiving shipments throughout North America.
The solution offers due diligence protection from the risk of commercial credit loss to protect businesses from common oversights, such as entering into service agreements with high-risk payment processing agents.
Business Factors & Finance provides non-recourse disbursements (factoring) of up to 96% of the principal payment (invoiced) balance, and a 24- to 48-hour turnaround on commercial credits. The company uses software that tracks payment trends and alerts credit executives in real time in the case of a billing delinquency.