Summary: Finding a company that offers good factoring rates can be difficult. Several companies advertise seemingly cheap factoring rates. However, these rates often look “too good to be true.” In many cases, these factoring plans appear cheap but become very expensive once you read the fine print. Finance companies are in a very competitive environment. […]
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Will Using Fuel Advances Help My Small Trucking Fleet?
Summary: Fuel advances have been gaining popularity among owner-operators and small fleet owners in recent years. They can be a useful resource for carriers that are just starting out or growing quickly. However, fuel advances also have drawbacks and can be an expensive solution. Carriers should use them carefully. This article explains how fuel advances […]
How Does Fuel Advance Factoring Work?
Summary: A fuel advance is an add-on that many factoring companies offer alongside their freight bill factoring programs. Fuel advances provide funds to cover fuel and other expenses. Your company gets access to these funds when you pick up a load. Fuel advances are used by small and growing trucking companies that need funds to […]
How Do Factoring Companies Buy Accounts Receivable?
One of the advantages of invoice factoring is that most transactions are not structured as loans. Instead, the client sells their accounts receivable to the factoring company in exchange for an immediate payment. This article describes how a company sells their invoices to a factor and covers the following information: 1. Factoring basics Invoice factoring […]
How to Choose the Best PO Financing Company
The market is full of companies that advertise purchase order (PO) financing programs. However, only a few companies have the experience, knowledge, and capital to handle these transactions successfully. Choosing the right finance company is important because it plays a critical role in the outcome of your transaction. In this article, we discuss: 1. What […]
What is Non-Notification Factoring?
Non-notification factoring is a form of receivables factoring that minimizes interactions between the factoring company and your customers. It avoids most concerns associated with factoring and enables clients to operate with fewer restrictions. In this article, we cover: 1. What is non-notification factoring? One of the main concerns clients have with factoring is that it […]
Factoring to Finance a Medical Imaging Center (and Improve Cash Flow)
Operating a medical imaging and diagnostic facility can be very capital intensive. A number of expenses, such as lease payments on diagnostic equipment and office space, need to be paid regularly. Diagnostic centers also have high employee costs for office personnel, nurses, and medical staff. These combined expenses place a heavy – and constant – demand on your operating […]
Useful Resources for Truck Drivers
Here is a list of useful resources for truckers. We are constantly updating this list. If you have a suggestion, please contact us through our Google+ or LinkedIn pages. Load boards Truck Stop Locators Road Conditions Weather Mobile Apps Financing Driving Schools (aspiring truck drivers) Credit Software Miscellaneous Women In Trucking Note: These resources […]
Best Mobile Apps For Truck Drivers (Truckers)
Here is the list of the best smart phone mobile applications for truckers. We car constantly enhancing this list. If you have a suggestion, please let us know through Linkedin. Document Management Tranflo Transflo is a mobile scanning solution that handles document delivery. Drivers can use it to send documents to carriers. And carriers can […]
How Quickly Can Invoice Factoring Companies Provide Financing?
One advantage of factoring over other options is that many finance companies can get you funding quickly, usually within days. However, several things can delay the transaction. This article explains the factor’s onboarding process, potential transaction challenges, and how to streamline your funding process. We cover: 1. Overview of the process The onboarding process to […]