Love’s Travel Stops has introduced Love’s Financial, becoming the only travel stop company to offer factoring solutions to professional drivers.
The service is designed to help drivers manage their business and cash flow through flexible cash management products with lower transaction fees, according to Love's.
“Professional drivers and transportation fleets who want to grow their businesses or improve cash flow see factoring as a tool that makes sense," said Gary Morgan, director of Love’s Financial. "Factoring through Love’s Financial helps drivers meet financial obligations that often hinder growth.”
Love’s pays its customers within 24 hours or less, providing capital between loads and to cover upfront expenses, such as fuel, insurance and payroll. Drivers can factor with Love’s remotely, or at any Love’s that offers Transflo Express, free of charge.
Factoring is different than a loan, meaning drivers won’t incur debt and it comes without the same level of credit restrictions.