Factoring companies squeezed by slowing shipper payments: Alsobrooks

CHATTANOOGA–Factoring is generally defined as a transaction between a factoring company in the middle of a relationship between a broker or shipper on one side and a carrier on the other, with the latter getting paid quicker by the factoring company who then turns to the shipper or broker to collect. But the weak freight market combined with other economic ills is resulting in factoring companies now finding themselves waiting longer to get paid by whoever hired the carrier in the first place, according t ...