The Impact of Autonomous Vehicles on Freight Factoring and Fleet Financing

Both freight factoring and fleet financing are essential financial tools for a trucking company’s owner. Freight factoring involves selling an invoice to a factor at a discount. You pay the agreed-upon fee and benefit from immediate payment. The freight factoring …

How do you manage your invoicing? For most trucking company owners, you have staff who process bills of lading and generate invoices. Those invoices are sent to clients via email, mail, or fax. Now, it’s a waiting game. They have …

Freight factoring provides trucking company owners or independent truck drivers get the cash they’re owed quickly. Traditional billing procedures require the generation of the invoice that’s mailed, emailed, or faxed to the broker or shipper. The terms for payment are …

Whether you’re just starting out or have been in business for a few years, growth often requires financial assistance through products like bank loans or business lines of credit. Either way, they are financial products that come with pros and …

Starting a trucking company requires careful planning and attention to detail. If you miss any steps, it could lead to steep fines or even shut you down. Even if you do everything right, there’s no guarantee you’ll make it. Around …

Freight factoring is an essential service for trucking company owners. Instead of traditional billing processes where you send an invoice, wait a month or two for the client to pay you, and float bills and business expenses as best you …

Seasonal fluctuations wreak havoc on a trucking company’s budget. In the fall, money is rolling in with the influx of brokers and shippers needing seasonal foods and holiday items delivered in a timely manner. Come January, everything slows down. Work …

As a trucking company owner, what are your goals for the long term? The facts are that 90% of fleets with six trucks or less fail to thrive and end up closing their doors for good. Lack of experience plays …

A cash advance is a short-term loan that allows you to borrow funds at a higher interest rate. Generally, people think of a cash advance as funds borrowed against a credit card, but payday loans are also a cash advance, …

In late July of 2024, average interest rates for business credit cards reached 29.07% according to Forbes. Using a card right now is a bad way to cover business emergencies. It’s expensive. A business line of credit offers far lower …