Late payments are a massive headache for truckers. Brokers and shippers routinely take 30, 60, or even 90 days to pay, leaving truckers stuck covering fuel, maintenance, and payroll out of pocket. Waiting on payments is frustrating and financially unsustainable, with driver-related expenses making up 34 percent of total freight trucking costs, according to Statista.…
There are over 13 million trucks registered in the U.S., and these trucks haul approximately 11.46 billion tons of freight annually, says IRU. But keeping those trucks on the road requires steady cash flow. Waiting 30, 60, or even 90 days for payments from brokers and shippers is simply not an option when fuel, repairs,…
Factoring lets trucking businesses get paid immediately instead of waiting on slow-paying clients. But how does freight factoring work? What are the costs involved? And how do you choose the best freight factoring companies to partner with? Read on for details. What is Freight Factoring and How Does it Work? Freight factoring is a financing…
Becoming your own boss as an owner-operator can be a wonderful thing. While growing a new trucking business comes with many challenges, there are many rewards, as well. Making more money is probably the single most important one. That’s why Integrity Factoring would like to provide you with the following tips for surviving in the…
With November just around the corner, winter is well on its way. This means dangerous driving conditions for truck drivers everywhere. At Integrity Factoring, we care about our clients. That’s why we’d like to provide you with some critical winter safety truck driving tips, whether you are new to the industry or have years of…
This is nothing more challenging than owning a transportation company and having to deal with unexpected repairs. Not only are you stuck with a truck that isn’t working, but you’re stuck with an expensive repair bill as well. If you have the money, you need to make necessary repairs; this is only a minor inconvenience.…
Most trucking businesses use bookkeeping programs that effectively enable them to design their company’s invoice within minutes. Simply put in some key data, drop your logo onto the invoice and you’re ready to send. Be that as it may, some bookkeeping programs may not walk you through the fundamental components that should be included. Having…
Invoice Factoring Trucking companies are vital to the American economy and support businesses, big or small, throughout the country. By picking up and delivering billions of tons of goods each year, trucking companies enable these businesses to thrive. However, owning a trucking company requires specialized knowledge and a lot of hard work. If you are…
Trucking Factoring Tips At Integrity Factoring, we understand that purchasing a new semi can be a significant expense for any trucking company. As with any major equipment, acquiring a new truck typically requires leasing or buying it. What is the wisest investment? Let’s take a look at the following information associated with each financing option…
An Invoice Factoring Guide Once you know how to start a trucking company and you’re out on the road, it’s important to make sure you can afford to maintain your truck as well as your business. Since cash flow is critical to trucking companies, Integrity Factoring would like to provide you with the following guide…