Why Interest Rates Keep Going Up & How It Impacts Freight Factoring

Between 2018 and March 2022, the Federal Reserve hadn’t increased the effective federal funds rate. However, the Fed opted to get ahead of inflation by raising the rate by 25 points going from 0.25% to 0.50%. This was the first …

Not everyone has time to wait, especially when it comes to getting paid. You work with some fantastic brokers and shippers, but waiting for payment until the end of the month is stressful. You’ve heard about freight factoring, but you …

Freight invoice factoring (freight factoring for short) is a service where you sell your unpaid invoices to a factor. That company pays you a percentage (sometimes 100%) of the money due and waits for the client to pay the amount …

Freight factoring is a process where you sell your invoices to an invoice factoring company to get paid immediately. Say a broker or shipper owes you $10,000, but you don’t want to wait until the end of the month to …

Within the U.S., 2020 saw light duty trucks travel approximately 672.1 billion miles and two axle/six tire or larger trucks topped 124.8 billion. With more than 41 million trucks on the road in 2019 (including Class 8 trucks), it’s estimated …

What do you know about freight factoring? You might be familiar with the service, but if you’re not, it’s a way to get paid immediately for the loads you pick up or deliver. Timing is everything and determines how large …

During the first year of the pandemic, 3,140 trucking companies shut their doors. This was almost triple the number of closures in 2019. The pandemic changed things as shutdowns and quarantines took place. Still, before the pandemic over 1,000 trucking …

You need the tools to make every trip matter in a competitive industry. There’s plenty of work out there for trucking companies, but everyone is competing for the most profitable loads. How do you find them and make sure you’re …

Technology has come a long way in just 20 or 30 years. If you’re not using technology to your advantage, it’s time. Many of today’s technological advancements can help trucking companies run efficiently and effectively. Look at all of the …

For one reason or another, you’ve had enough of your current invoice factoring company. You may be tired of the increased fees, the monthly rules on how many invoices you must factor with them, or need more services than they …