It can be one of the greatest frustrations of owning your own trucking company – you do a great job delivering safely and on time, but your customers won't pay on…
How Factoring Helps Assess Credit Risk & Improve Cash Flow
Providing payment terms to customers is common practice in the trucking industry. Failure to do so will undoubtedly lead to a dramatic loss of business. Shippers expect at least net…
6 Reasons Successful Trucking Companies Use Factoring
When you start a transportation company, strong cash flow is just as critical to your business success as your trusty semi truck. As you may know, truck factoring or freight factoring can be…
8 Things You Can Do Today to Grow Your Trucking or Transportation Business
If you’re the owner of a small trucking business, you know it’s tough to compete with larger fleets. The obvious advantage of more trucks often means that they can offer…
Is your trucking company using a credit card instead of a fuel discount card as your company’s fleet card? If so, you’re paying far too much for diesel, your company’s…
The History of Invoice Factoring in the Trucking Industry
Invoice factoring is older than you think The concept of factoring is quite old. Factoring has been around since the ancient Mesopotamian times and the code of Hammurabi. It is…
The Ultimate Cheat Sheet to Starting and Running Your Own Trucking Business
Congratulations! You’ve decided to start a new trucking company and be your own boss. Trucking is one of the best ways to become a business owner. To succeed you will…
In the trucking industry, we know that profits are everything and it's important to know your truck operating costs for every load. As an owner of a trucking company, making…
It seems simple enough to make money as a trucker; pick up freight here, deliver it there, bill the customer. To a layman being an owner operator or trucking fleet…
How To Start A Trucking Company With Just One Truck
Starting a trucking company is a big decision. Becoming a business owner operator is, without a doubt, a huge responsibility, and taking the first steps can feel overwhelming. Take a…
How to Improve Cash Flow and Enhance Your Trucking Company’s Profitability
How do trucking companies make money? The basic principle is simple; trucking companies make money by driving loaded miles and charging a higher rate-per-mile than the company’s cost-per-mile. The greater…
The 5 Most Common Trucking Fraud Schemes and How to Avoid Them
The providers of the eCapital Fuel Card, EFS or Electronic Funds Source, came out with some helpful EFS scam prevention tips to take before issuing an EFS MoneyCode over the phone.…
You work long hard hours on the road, day after day to deliver freight safely and on time. All the while you’re managing the anxiety of waiting for invoices to…
The Best Key Performance Indicators for Trucking Companies
If you own or manage a trucking company, knowing the key performance indicators (KPIs) is crucial to the success of your organization. KPIs may differ per organization and certainly per…
Factoring Trivia: Little Known Facts about Invoice Factoring
What is Invoice Factoring? In short, it is the selling of accounts receivable invoices at a discount in exchange for immediate payment. This practice provides instant business cash flow allowing…
How to Get Your Trucking Business Invoices Paid Faster
It's frustrating; you work hard, make tight deadlines and deliver the goods, then you have to wait around to get paid. Meanwhile, expenses mount up as your equipment burns fuel…
Checklist: How to Choose the Best Factoring Company
You’ve made a great decision; to leverage your accounts receivable and access fast cash by factoring your invoices. The next step is to find the best factoring company for trucking…
3 Reasons Why Trucking Companies Use Freight Factoring
Why do so many trucking and transportation companies include freight factoring as part of their financing toolkit? The business rationale for choosing factoring for trucking is largely based on the…
How to Easily Calculate and Improve Your Trucking Company Profit Margins
Just like any other business, your trucking company needs to run at a profit or it will quickly fail. Sounds like stating the obvious doesn’t it, yet it’s surprising how…
How a Factoring Line of Credit Trumps Factoring and a Line of Credit
Regardless of whether it’s riding through a pandemic, battling against freight shortages or going flat out to keep up with demand, maintaining positive cash flow is a constant challenge for…
Freight Factoring Helps Trucking Companies Turned Down By Banks
Trucking companies cannot depend on the banking system to provide working capital solutions or trucking business loans. Prior to the coronavirus (COVID-19) outbreak, carriers and brokers had great difficulty getting…
How Financial Bank Covenants Affect Your Trucking Business
During this period of national crisis, the extreme peaks in demand for capacity combined with a faltering economy have heightened the difficulty of maintaining positive cash flow for truck company…
No matter how much the world changes around us, one thing that remains constant is the need for truckers to know how to find loads to haul. Through freight recessions…
Why Trucking Can’t Shut Down During a Pandemic like Coronavirus
The COVID-19 global pandemic is an unprecedented health threat, and the trucking industry is taking its place in history as an essential service during this crisis, which is why the…
Invoice factoring puts trucking companies at an advantage over the competition and lets them run a stronger business. How, you ask? Let’s break it down. When you factor invoices, you…
Protect Your Trucking Business from Bank Loan Covenants
It’s a good thing that truckers are a tough breed as these are certainly tough times we’re in. During the first half of 2019, approximately 640 trucking companies went bankrupt…
Freight Invoice Factoring – Know the Pros and Cons
If you’ve been in the transportation industry for a while, you’ve heard of factoring. It is far from a new financial service. And there’s a reason it’s been around forever:…
We factor a lot of freight invoices for transportation companies and truckers and therefore get a ton of good questions thrown our way. Here are the most common questions we…
When Will Your Business Benefit from Freight Factoring?
Working in the trucking industry is no walk in the park. Everyday demands keep you busier than you ever thought you’d be. There’s so much to do: Finding loads Hauling…
There are so many freight factoring companies to choose from that it can be overwhelming. So, how do you decide who to work with? Choosing the right freight factoring company…
Freight Invoice Factoring 101: Solving Your Cash Flow Problem
Managing cash flow is crucial for your trucking business. Truck payments, fuel, maintenance, payroll, insurance, and taxes are costs that don’t go away. We know you need a steady income…
20 Easy Ways Trucking Companies Can Increase Profit Margins This Month
You’re a great truck driver. You know how to choose the best routes, are always reliable and deliver on time, every time. But it takes more than being a great…
If you’re a truck owner-operator, finding loads is one of your main priorities. It’s imperative to increase your loaded miles in order to maximize your profits and mileage. A great…
Are you unsure of the deductions available to you as a trucking business owner? Don't worry, we're here to help! We've teamed up with Jim O'Donnell, owner and CEO of…
Freight Factoring Solutions – Improving Cash Flow for Driver Incentives and Retention
The American Trucking Association just released some interesting data on the trucking industry that points to some positive performance and economic trends. Here are some highlights from their release: In 2014, trucks…
While on the road, apps can help get you where you need to be, save time, money, and make you skinnier... okay, maybe not skinnier! 1. GasBuddy With fuel being…
If there’s one thing we know about trucking businesses, it’s that owner-operators and fleet owners are focused on growth. When we talk to truckers, the majority of them tell us…
As the owner of a trucking business, you understand well that competing with bigger fleets can be challenging. High driver turnover, maintenance, and a host of other obstacles can make…
If you’re good at your job as a truck driver, it seems to make sense that your experience would make you an awesome business owner. Yet, you’re so busy working…
Many trucking companies experience growth and the need for additional financing simultaneously. Demand can be good and yet, with high start-up and operational costs, creative solutions to fund growth may…
Top 11 Ways to Reduce Your Commercial Trucking Insurance Premiums
Trucking insurance is one of your biggest monthly expenses as an independent owner-operator or small fleet owner. Unfortunately, rates have been increasing by as much as 20% across the board.…
Fuel is the largest operating expense in the trucking industry. A typical commercial truck will use 20,500 gallons of fuel and can easily consume more than $70,000 of diesel fuel…
10 Lessons for Running a Better Business From Popular TV Shows
TV shows are great at illustrating themes of real life; inspiring heroes and leaders, tales of success and hard work paying off, and the overarching theme of accomplishing more as…
7 Smartphone Apps to Improve Truck Driver Health and Fleet Productivity
Most (if not all) truck drivers today travel with a smartphone or tablet in their cab. It’s become a vital planning tool that can help improve productivity while saving time…
5 Ways Trucking Companies Can Access Cash for Growth
There are a few truths to owning a trucking business that many people don’t fully comprehend – unless of course you’re a trucking business owner. The adage ‘it takes money…
Invoice factoring may be a relatively new concept to some, but it’s actually been around for centuries as a financial practice. It’s used quite frequently in the transportation and trucking industry, and often…
Do you carry a smart phone or tablet with you on the road? There are several apps on the market that can truly help with planning, productivity, and budgets, but…
Back in June, I posted the top 10 Smartphone apps for truckers to use while on the road. Those apps listed are still great and relevant, but there are some…
3 Reasons Your Customers Will Like Invoice Factoring
Companies of all sizes use invoice factoring (a.k.a accounts receivable financing) to get the capital they need to grow their businesses. Not only has invoice factoring been around for a while,…
Are you just breaking into the trucking industry? With so many trucking types and jobs to choose from, it may be difficult to choose what’s right for you. In this…
Top 10 Most Frequently Asked Questions Regarding Invoice Factoring
Invoice factoring is simply a cash flow solution that turns invoices into quick cash without adding any additional debt. Common in several industries, invoice factoring allows companies to use the…
Top 5 Tips to Consider when Choosing a Freight Factoring Company
Do you know how factoring your invoices can help your business with cash flow? Simply put, factoring is a process where a company purchases your invoices then pays you a percentage of…
Since Mesopotamian times, savvy merchants were trying to find ways to acquire the funds they needed to continue producing their goods. Fast forward about 2400+ years, and their idea is…
If you’re new to factoring, you might come across terms that you’re not familiar with. It’s important that your factoring company explains how factoring works and what each term means.…
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