Founded in the mid-1970s, family-owned Martin Pulido Trucking has worked hard to build a reputation for quality service. The company hauls contaminated soil and scrap metal for energy companies, chemical plants, and railroads. With the next generation now on board, Martin Pulido Trucking remains strong and stable, but leveling up will always create new challenges for companies.
Slow-Paying Clients Were Creating Cash Flow Gaps That Impacted Payroll and the Ability to Accept Big Contracts
Businesses in the trucking industry, especially those serving the oil industry, often agree to longer invoice terms to secure business. Because of this, Zac Pulido typically waits 30 or 60 days for his clients to pay their invoices. That’s problematic because, like most businesses, he pays his employees every two weeks. This means there’s a lengthy gap between paying the expenses associated with performing work and actually getting paid for it.
The business has historically gotten around the cash flow gap by leveraging revolving credit. However, it can be an expensive solution and there are limitations. As Pulido’s work orders began to reach the half-million mark, he knew he needed to find a more viable solution to covering payroll and that allowed him to accept lucrative contracts.
Pulido wasn’t sure what options were available or what would work best, but when a family member who owns another trucking company mentioned Charter Capital, he decided to learn more.
Charter Capital Provides Funding to Close Gaps and Help Martin Pulido Trucking Grow
Pulido says he started by filling out an online form and was put in touch with one of Charter Capital’s principals right away. “We ran all the paperwork and… before you know it, we got the job with Exxon and were working.” Through factoring with Charter Capital, Martin Pulido Trucking was able to accept the large contract without worrying about how employees would be paid. The company has gone on to repeat the process several times over. “We wouldn’t be able to do the jobs without them,” Pulido says, reflecting on his relationship with Charter Capital.
Additionally, Pulido notes that his factoring rates are incredibly low, allowing him to save money while building his business and taking care of his team.
Avoid Scaling and Payroll Pains with Help from Charter Capital
As a leading invoice factoring company specializing in funding solutions for transportation companies and more, Charter Capital can help provide your business with funding. If slow-paying clients make it difficult for you to accept the type of contracts your business needs to grow or make payroll, request a complimentary factoring quote from Charter Capital.
