What Are the Pros and Cons to Freight Invoice Factoring?

Freight invoice factoring has been around for a long, long time. It’s not a new service, but it’s one that some trucking companies overlook, especially if they’re new to the business. What if you could pick up or drop off …

The U.S. Bureau of Labor Statistics estimates that around 231,000 new tractor-trailer driving jobs open up each year. Delivery truck driving jobs are growing at a rate of about 12%, and around 190,700 new job openings occur each year. The …

The war in Ukraine, the pandemic, and the difficulty finding workers have impacted so many families and businesses. As a trucking company owner, you’re having a hard time with rising costs impacting how well you can grow your trucking company. …

You’re tired of waiting a month, two months, or even three months to get paid for the loads you haul. Your creditors don’t feel bad that you’re not being paid. They want their money now, and they’ll slap you with …

Between May 30th and June 6th, the average per-gallon cost of diesel went from $5.54 to $5.70. It’s an increase of $2.43 per gallon in just a year. A gallon of diesel costs more than $6 a gallon in New …

The pandemic hit many trucking companies pretty hard. You’re among them. You managed to survive the pandemic’s slowdown, but it impacted your credit. You need to build your trucking business to ensure you have steady revenue, but bad credit keeps …

The American Trucking Association reports that 10.23 billion tons of freight were transported in 2020. It was a decline of about 1.6 billion tons, but it still generated more than $732 billion for trucking companies and drivers. At the same …

How many weeks go by between payments from your clients? If your brokers or shippers pay invoices once a month, it may be weeks before you get your next payment. Meanwhile, you have salaries to pay. Your electric company doesn’t …

How long does it take your brokers and shippers to pay you? If you’re lucky, you get paid within a couple of weeks, but some companies only pay invoices once a month. If the broker or shipper mails checks rather …

 What are your goals as an independent trucker or owner of a trucking company? Most people will answer to grow the business and bring in more revenue. Increasing your business requires care as you don’t want to take on more …