Trucking Industry Trends - An infographics

Advance Business Capital ( http://www.cash4truckers.com ) was founded in 2004 by a group of longtime transportation and finance executives. Since then, ABC has become one of the fastest growing truck factors in the United States.

Freight Factoring for Carrier Fleets - An Infographics

Offering the insight truckers need, Advance Business Capital LLC ( http://www.cash4truckers.com/freight-factoring/freight-factoring-for-carrier-fleets/ ) have made it our goal to provide truckers with the most practical factoring financing possible and we do that by going above and beyond the norm.

Transportation Factoring Companies Advantages - An Infographics

A Trucking factoring company ( http://www.cash4truckers.com/ ) is a mini universe in itself; These act as lead generators for business and reduce empty trips; you can check availability of loads from their website or call them up.

Trucking factoring - An infographics

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Transportation Factoring Companies and Additional Advantages

A Trucking factoring company is a mini universe in itself; a world of truckers, freight brokers, airfreight forwarders, intermodal marketing companies, and others engaged in transportation.

The most comforting service that these companies provide is easy funding. Transportation factoring is a simple method of getting freight bills discounted. Regular shippers demand credit from you as a trucker. It may be one to two months and in some cases even longer, before they pay the bill. Here is one of the ways to get over money crunch in between. Have the shipper to endorse the freight bill and courier it to the trucking factoring company. It will pay you as much as 90% of the bill value immediately.

However, there will be certain norms and costs, which differ from one transportation factoring company to the other. Some of these formalities themselves act as additional facilities and can generate business for you. Here is a short backgrounder.

Load Approval:

Prior approval of loads, acts as a fine way of getting business. For the trucking factoring company to accept the freight bill and pay you the money, it must obviously know the credit rating of the shipper. In the process, the factoring companies list all the loads approved and available in the vicinity. For instance, after delivering a load in Tampa, Texas you are looking for a return load. Your transportation factoring keeps you posted about details of consignments, destinations and often, even the offered freight! One such load board claims that it announces as many as 40 million approved loads a year. This should save you invaluable time required to scout for shipments and negotiating rates.

Insurance Programs:

A Trucking factoring company as said already is a world peopled by truckers. A few of them are run by experienced transporters themselves; and they appreciate the peculiar needs of motor carriers better than any others do. If you have been finding insurance premium to be killing, ask your transportation factoring company; it might negotiate better terms with insurance provider for you.

Bulk Buying Power:

A few trucking factoring companies provide B2B services. Private fleet owners, small motor carriers can buy tires, fuel, tools at cheaper rates, because the factor gets better terms from leading vendors.

Permits:

It is rather tedious to obtain permits from the Federal Motor Carrier Safety Administration (FMSCA) and the United States Department of Transportation (USDOT.) Some trucking factoring organizations help you to acquire permits and maintain motor carriers’ licensing formalities.

Costs:

All these services, including equipment leasing, fuel/repair payment cards, naturally come at a cost. Check whether the transportation factoring company is dependable and whether the fees are reasonable, before signing up.

Take Truck Factoring Beyond Funding

Is freight factoring only about an informal loan? Yes, in the strict business sense, it is so; truck factoring is a means for truck owners to obtain funds. But, this basic need can be met by a regular bank, which with all its rigmarole can come up with a loan. However, needs of freight operators are so peculiar that, only a special purpose entity can provide the right kind of support.

Some of the established transport operators have formed Truck Factoring organizations; these offer tailor made solutions to truckers. 

These companies meet the basic purpose of financing truckers’ operational expenses. The freight factoring company enrolls both shippers and truckers; when the truck owner, pick up a load from a registered shipper, he or she can get the freight bill discounted immediately. The common trade practice is that up to 90% of the bill is paid on the spot by the truck factoring company and the balance is released whenever the shipper settles the bill. The charges for the service will naturally be slightly higher than a bank, but then it will even out considering the convenience and transaction speed.

Now, to get additional benefits, you have to enroll with a dynamic freight factoring organization. These act as lead generators for business and reduce empty trips; you can check availability of loads from their website or call them up.

The outstanding benefit is lower insurance costs; since it deals on behalf of a number of people, the freight factoring company negotiates better rates from the insurance companies and takes care of the documentation.

If you talk to a truck factoring organization, you will find that there are several other services on offer.

Freight Bill Factoring: Get a Breather - Get Paid in Advance

Freight bill factoring spells the all-important 'M' factor for freight operators; it is the easier way of getting hands on some funds to meet operational expenses. Freight bill factoring helps haulage operators to receive advance payment against their bills; in other words, it acts as an informal method of obtaining a loan.

The story of most of the truckers resembles the classic case of a sandwich; you are battered on both the sides. While you have to pay the drivers, the service-facility, highway toll, taxes and of course for fuel on the spot, customers proves to be tough bargainers and keep extending credit lines. It is an eternal struggle and most of the time, all you seem to be getting out of the business is putting in more and still more money into it.

Freight bill factoring is one of the ways out of the troubles. Factoring organizations especially devoted to providing funds to freight operators advance payments against freight bills and help you to meet running expenses. The method of getting finds through freight bill factoring is fairly simple.

You submit your freight bill to the shippers and get it endorsed by them. Provide proof of haulage to the factoring firm, which pay anywhere up to 95% of the bill. That in a nutshell freight bill factoring is for you. However, there are a few basic requirements, the first of which is choosing a helpful and dependable truck factoring company. A freight bill factoring company run by people in trucking business would be a better bet, as they would understand a trucker's needs from personal experience.

A good and dependable freight bill factoring company offers more than just a loan; you can get a range of services such as information, fuel cards, insurance, equipment financing and rental support.

Load boards are the best service that a freight bill factoring can render; these information bulletins give detailed information on loads available across the country. This two-in-one data helps you to locate business right away: suppose you have just delivered a load in Dallas; and wish to locate loads available in the vicinity. These boards details of freight ready for shipping and even more importantly, which of them are per-approved for credit.  A proactive freight bill factoring company generates business as well as provides you credit for the same. 

Fuel-cards are another convenience; your drivers draw fuel on the road without paying cash; and the freight bill factoring company discounts your consolidated bills periodically. Attractive deals including financing on trucking equipment foreclosed by the banks are arranged by freight bill factoring companies.

 Freight bill factoring spells smoother roads for truckers.