Financing can make or break a trucking company. Securing funds is essential for expanding your fleet, covering fuel costs, or simply managing cash flow. But what’s the smarter choice for trucking company financing: freight factoring or a trucking business loan? You’ll usually find that everything gets expensive quickly when considering commercial truck loans – the…
DetailsThe trucking industry moves 72.6 percent of the nation’s overland freight, AltexSoft reports. Yet, many carriers still struggle with cash flow, especially as seasons change. Delayed payments, fluctuating fuel costs, and shifting freight demand can turn a profitable quarter into a financial headache. That’s why freight factoring for seasonal cash flow is a welcome solution.…
DetailsThe trucking industry keeps America moving, with trucks hauling 72.6 percent of the nation’s freight by weight, according to American Trucking Associations (ATA). Yet, despite moving the majority of the country’s goods, small and mid-sized carriers often struggle with one major issue: cash flow. Payments from brokers and shippers take weeks (sometimes months), but expenses…
DetailsLate 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.…
DetailsThere 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,…
Details
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…
Details
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…
Details
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…
Details
Every small business goes through rough patches when money is tight while trying to make ends meet. In fact, over 50% of small businesses fail within the first four years due to a lack of money. Furthermore, cash flow problems can also lead to other problems, including: Inability to plan for the future Inability to…
Details
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.…
Details