Riding the Waves of Change: Navigating Freight Factoring Amidst Current Economic Shifts

Since the pandemic hit, the economy has succeeded in some areas and not thrived in others. Federal interest rates (5.25% to 5.5%) are at the highest they’ve been since 2006 when they hit 5.25%. It’s not the highest it’s been. …

When you want to grow your business or keep your current trucking business afloat, a line of credit is one of the best ways to do this. There are secured and unsecured lines of credit, and there are different products …

Heavy haul trucking is a specialized transportation sector for oversized and extra-heavy cargo. While it’s a critical sector of the trucking industry, it’s also one where careful planning and consideration must be taken to ensure there are quick solutions to …

Trucking is a busy venture for more than your drivers. Your office staff has loads to schedule, routes to plan, permits and licenses to secure, and bills to keep up with. When you add invoicing, collections, and bookkeeping to the …

The economy depends on the sale of goods, and it’s the trucking industry that ensures those goods get to the consumer’s hands. Whether they’re picking up crates and pallets at ports, airports, warehouses, or manufacturing plants, truck drivers are crucial.  …

Trucking service providers often sign up to haul FEMA loads due to the higher pay rates. Before you enter into a government contract, make very sure you read the rules. FEMA’s Tender of Service Program is managed by a third-party …

As a business owner, you’re weighing your options. You struggle to get bills paid on time, and it’s getting worse as brokers and shippers take too long to pay. Your best clients want to pay all invoices at once, on …

Factoring comes with options. There’s recourse, which means you’re repaying a cash advance if your client doesn’t pay an invoice. Non-recourse takes some of the pressure off by covering you in certain situations, such as a broker or shipper’s bankruptcy. …

When a trucking company owns several trucks to transport goods within a state, between states, or across the country, that company has a large fleet. The fleet might be a mix of vans, cabs with trailers, or box trucks. It …

For the past couple of years, people have watched interest rates climb and keep climbing as the Fed continued to increase the Federal Funds rate. Rates went from being near zero for many years and increased 11 times in 2023 …