Freight Factoring For Immediate Cash: How It Can Rescue Truckers From Financial Crisis

In April 2023, more than 750,000 U.S. motor carriers with at least one truck were in operation. By the end of 2022, the nation had 8.4 million people employed in trucking jobs. It’s a lot, and 95.8% of those trucking …

Freight factoring is a service where the money you’re owed by a client is advanced to you by a factoring company. You get paid now instead of weeks or months later, but you pay a small fee for that cash …

Business owners in the trucking industry experience so much. Overcoming cash flow gaps is one of the things you’ll experience throughout the year, especially as there are peaks and slowdowns with work. Generally, spring crops kick off the busy season, …

Choosing the best freight factoring company is an important decision. It’s also one that’s hampered by several factors, including the size of your fleet. Some companies favor large trucking companies as they have a larger number of invoices. Fees are …

Think of invoice factoring as a cash advance on your pay. You’ve delivered goods for a broker, shipper, or similar client. They have to pay you for the safe transportation, so you invoice them and wait. Sometimes, waiting weeks or …

We’ve hit T-125 days and counting down before Christmas arrives. It’s now the peak time for trucking companies to have an abundance of work. Drivers need to make sure merchandise arrives at stores on time. Fall harvests are soon to …

In a freight factoring agreement, you get same-day payments or payments that arrive within a day or two by selling your invoices. It’s essentially a cash advance that occurs by permitting a factoring company to buy your accounts receivable in …

August to October are peak months in the trucking industry. It’s when back-to-school and holiday merchandise is being transported to stores and warehouses. January through March are much quieter before spring crops trigger the start of the busier time of …

Freight factoring is a vital service for maintaining your cash flow as a trucking company. While you might have plenty of work, you have to wait for your clients to pay what’s owed. If they only pay once a month …

A capital-intensive industry is one where a lot of capital is needed upfront and the return on that investment comes later. It involves the ratio of fixed expenses to variable ones. In the trucking industry, you pay for fuel, driver’s …