Top Tips for Maximizing the Benefits of Freight Factoring Service

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 …

The American Trucking Association’s Chief Economist calculates a driver shortage of around 80,000 drivers in 2021. That shortage is expected to double by 2030 following the current trends. Even as new truckers entered their career, those new drivers were not …

In 2022, the U.S. Department of Transportation reported there were 1.1 million for-hire trucking companies, 718,594 private carriers, and 153,191 for-hire/private carriers. Of those companies, 95.7% have no more than 10 trucks. Small trucking businesses make up a major part …

If you go back about 30 years, the way a trucking company got paid is a lot different than today. Traditionally, trucking companies wrote out invoices by hand or used a typewriter and carbon paper to get duplicate copies. Those …

An owner-operator truck driver enjoys a wealth of benefits that others may never see. You’re independent and do not have to answer to a boss. It’s your truck, you’re the driver, and you set and choose the clients you want. …

As a business owner, you want your business to thrive. Growing from a trucking company with one or two trucks to a full fleet is your goal, but to reach it, you must invest wisely. Have you considered the value …

Trucking companies are a crucial part of the global economy. Over 72% of the nation’s freight (10.93 billion tons in 2021) was moved by trucks. Commercial trucks paid close to $48.5 billion in both state and federal taxes for fuel, …

The freight broker market can be turbulent, with brokers constantly coming and going. It is crucial for clients to interact with reputable brokers and receive real-time updates on their credit ratings. The credit score of a broker might fluctuate hour …

One of the most stressful decisions a company can make is finding the right financial partners. Low rates are great, but they’re not ideal if it’s impossible to get help when you need it. You want to start factoring your …