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 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.

All about freight factoring

When it comes to a trucking company’s success prompt and early paying customers are always favored. However many times the customers may not be able to pay up front and many even wait for up to thirty days before making any payments to the trucking company. No matter how big or old your establishment may be but there are always expenses that you need to cover immediately such as repairs, fuel and drivers or you might just find yourself in a very tight spot. Having money at hand is of almost importance. So how does a trucking company solve this problem?

·         They can either request their customers for fast payments by making available discount offers for early payments. This option is fine but then again it is the choice of the customer to pay early or not.

·         Another option would be to get a business loan. This option clearly addresses the cash flow problem but it is very difficult to obtain. Not many of the small trucking firms would be able to satisfy the flawless financial statements, track record and strong collateral as demanded by many banks.

·         Transportation factoring is the best option. It is a new and popular idea which is fast gaining interest in the trucking communities also known as freight bill factoring. Such kind of a service eliminates the delay in obtaining the cash from the customers and helps maintain a steady cash flow. It is easy to obtain as opposed to other financing services requiring only a few days to set up.

                In this system a third party company provides the cash in place of the slow paying customers of the trucking companies. Once the cash is obtained by the trucking company it can uses it as it wishes and cover its ongoing costs and expenses. Once the customer pays up the transaction is complete and is finally settled.

Freight bill factoring is easier to obtain and is a very convenient option for trucking companies. An important requirement to qualify for freight factoring is that the company needs to have a good market credit. The company should also be free of tax and legal problems. It is an ideal solution for small and growing trucking companies who have the potential to grow but are often faced with customers who pay slowly thus inhibiting their development.

Some of the benefits of such transportation factoring are:

·         It removes the wait in getting paid thus ensuring a steady flow of cash.

·         It helps to take on new assignments and projects with ease.

·         It makes available the money which is much need to pay the drivers and for fuel and repairs.

·         Is easy to set up within a couple of days.

transportation factoring | trucking factoring

As we know that there are many trucking companies and each one of them wants to make their mark on the  trucking and the transport industry it is growing day by day and it needs a continuous flow of cash because as we know that a trucking industry is strictly cash intensive industry and it needs a large amount of cash in the business for the business to go proper because there are many cost related to a trucking industry  such as a drivers allowance , truck expenses , road tax, government tax and many other cash expenses which are required for a trucking industry.

transportation factoring | trucking factoring

It may be possible that the payment may not be made on the spot and there may be a gap between the payments and if the company is in a dire need of cash balance they can resort to transportation factoring. transportation factoring is a very easy process in which a company can get cash payment easily it is just like discounting a bill you can easily discount the transportation factoring in with some other company and you can get the money instantly and when the time for actual payment arises the payment is taken from the third party by the discounting company and that is how a circle is completed this is how transportation factoring is done. For more information about transportation factoring and trucking factoring feel free to contact us today-214-513-9600 or Toll free 866-414-9600.

Transportation Factoring Company-Now Provide Best services in your place

Transportation Factoring

As we know that the trucking industry is growing on a large scale day by day and there are millions of trucking industries all over the world who wants to make their mark in the transportation industry and for that they need a proper flow of cash because trucking industry is a completely cash intensive industry because there are many costs related to a trucking industry such as drivers allowance , truck expenses , contingent expenses , government taxes , road taxes and many more and for that the trucking industry and the truckers need a lot of cash in their hand to overcome all the cost.

There may be some cases in which a trucking company does not get the payment on the spot but they get it later on according to the modes of payment of the client and if the company is in a dire need of cash so they can resort to transportation factoring. What happens in transportation factoring is that the company discounts the bill to some other trucking company and that company gives the payment on the spot mostly in 24 hours and when the time for actual payment arises the trucking company which has paid for the bill collects the payment from the third party and that is how the cycle ends.