Freight Factoring vs. Invoice Factoring: What’s the Difference?

You’ve heard the term invoice factoring while trying to find a faster way to get paid. You’ve also seen freight factoring popping up in the same search. You’re confused and don’t understand what the differences are. Are they the same …

The federal reserve has made a historic 8 rate hikes over the past 18 months, bringing the benchmark rate from near 0% to 4.75%.  This rate impacts everything from credit card interest to mortgage rates to car loans to of …

While it does vary from one company to the next, the average truck driver travels upwards of 3,000 miles a week. Summer travel can be stressful as construction projects kick into gear, so there can be more delays due to …

In 2022, four of the nation’s largest trucking companies filed for bankruptcy due to increasing operating expenses, fuel costs, and wages. Many other smaller companies also went out of business. The economy isn’t stable, and it’s time to worry about …

In the past year, the U.S. Federal Reserve hiked interest rates eight times. Back in March 2022, the first hike brought the funds rate from 0.25% to 0.5%. Rate increases of 0.5% to 0.75% took place every few months. The …

Uniform Commercial Code (UCC) filings can impact your trucking company and plans to factor your invoices. A UCC filing tells creditors about a company’s assets that have been listed as collateral for a loan or other transaction. There are different …

As a new year starts taking shape, it’s a good time to look at the challenges the trucking industry faces in 2023. A lot is going on that has people worried, and one of them was the bankruptcies of several …

The Federal Reserve announced there’s another rate hike happening. Interest rates will go up another quarter percentage point bringing the federal funds rate to 4.75%. This is the eighth straight increase that the decision-makers at the Federal Reserve have ordered. …

Your trucking money requires clients to pay on time. It’s the only way you can keep up with your own bills, keep trucks fueled up, and afford to pay your drivers and office workers. If you experience short pays, they’re …

The ultimate goal of any freight factoring service is to ensure you get the money you’re owed quicker than if you invoiced a broker or shipper and waited for payment. With freight factoring, you pay a fee, which can be …