How Freight Factoring Can Offset the Risks of Debt in Trucking

In just the first six months of 2024, around 10,000 motor carriers shuttered their businesses. The nation is down almost 33,000 carriers since 2022, and a lot of these closures have happened in southern states. In November alone, more than …

Freight Factoring and Maintaining Strong Supplier Relationships

Any trucking company requires the right team to ensure the business runs smoothly. Suppliers play a big part in this, and you need to ensure that your supplier relationships do not disintegrate due to miscommunication, poor management, or unpaid bills.  …

How Factoring Can Help with Faster Equipment Purchases for Trucking Businesses

Equipment purchases are expensive but necessary when you run a trucking business. One of the best ways to manage the costs is through freight factoring. Freight factoring helps keep money coming in each week, but it goes beyond that by …

How Truckers Can Use Freight Factoring to Handle Unexpected Breakdown Costs

Truckers face challenges every day. Some of them are avoidable, but others are completely unexpected and frustrating. Breakdowns are one of the frustrating ones that often hit without warning. While the risk of some breakdowns can be decreased through regular …

Adapting to the 2024 ELD Mandate

Starting in 2024, the federal government requires most trucking companies to use electronic logging devices (ELDs). These devices record a driver’s hours of service automatically and eliminate the need for manual logs with pen and paper. ELDs record location, hours …

Managing Multi-Load Payments: How Factoring Simplifies Complex Pay Cycles

Multi-load trucking can be a profitable field because many trucking company owners avoid it. The competition is lower because some owners feel they lose too much money when drivers have to make more than one stop delivering a shipment.  The …

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 …

Freight Factoring for Niche Trucking Markets: Tailoring Services for Specialized Industries

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 …

No Reserves Cash Advances From SJC: What This Means & How It Benefits Truckers

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 …

Freight Factoring vs. Traditional Bank Loans: Which Is Right for Your Business?

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 …