Partnership Spotlight: TCI Business Capital
We promote TCI as a valuable factoring company for all size fleets. We want our customers to know TCI as well as we do, so we recently interviewed Bill Fuesz, Senior Vice President of Sales and Marketing at TCI, and here’s what he had to say about the company.
Partnership Spotlight: TCI Business Capital
Q: What is TCI?
A: TCI is a factoring company that has provided accounts-receivable invoicing for over-the-road trucking companies for 22 years. We also support other industries such as oil field services, telecommunications and renewable energy.
Q: How did the company get started?
A: Our founder Daniel Robbins, who started his professional career as a certified public accountant, realized that drivers were facing financial challenges waiting 30, 60 and even 90 days to receive payment from customers. He decided to offer factoring options for trucking companies to get paid now and keep their business in motion.
Q. What is your company’s vision?
A. The vision is simple we help our clients get paid for the hard work they do. If you think about the service we provide, we are really keeping their cash flow in operation.
When they have to wait for payment it creates financial stress, because they need to pay drivers, purchase fuel and schedule regular truck maintenance. They have a tough job and we are here to help simplify the process.
Q. Why should trucking companies factor with TCI?
A. We focus on collecting payment from our clients’ customers, so the trucking company can move on to the next dispatch. We factor 95 percent of the invoice amount upfront and have our collections department respectfully procure payment from the debtor. Once payment is received, we charge a nominal fee and hand over the remaining payment to the trucking company.
Last, we are known for our quick turnaround. We can factor an invoice within hours; whereas, it can take days or longer with our competitors.
Q. What made TCI interested in partnering with TruckLogics?
A. You guys provide another service to the trucking industry that is complementary to our vision. We both focus on alleviating stress on the trucking company by providing quality products that improve their bottom line. Philosophically and strategically, it’s a good fit.
If you’re interested in factoring with TCI, visit their website for more information.
