Summary: The Special Assets department handles loans that are out of compliance and in trouble. Lenders assign loans to this department to mitigate potential losses. This change marks a turning point in your relationship with the lender, as they likely want to exit the lending relationship. A company can improve its chances of success in […]
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Asset-Based Loans – Costs and Rates Explained
Asset-based loans (ABLs) are a type of financing that enables companies to get funding based on their assets. These loans are popular among small and midsize businesses because they offer simpler qualification and compliance requirements. While asset-based loans are more expensive than conventional bank financing, they are cheaper than most other solutions. This article discusses […]
What is a Ledgered Line of Credit? How Does it Work?
Summary: A ledgered line of credit is a type of asset-based financing that enables companies to draw up to 85% of their Accounts Receivable (A/R). Ledgered lines are more flexible, easier to use, and simpler to manage than comparable solutions. This article explains how ledgered lines work, their advantages, qualification requirements, and how they compare […]
Trucking Load Profit/Loss Calculator
This calculator allows you to estimate whether a trucking load is profitable. It requires only 4 values: Trip Details Line Haul $ Loaded Miles Deadhead Miles Average Cost per Mile $ Loaded Rate per Mile $ 3.333 Actual Rate per Mile $ 3.030 Approx. Profit/Loss per Mile $ 0.730 Trip Profit and Loss Summary Total […]
Rate per Mile Calculator for Truckers and Owner Operators
This rate per mile calculator helps truckers and owner-operators estimate what shippers are paying on a specific lane. It uses brokered load rates, mileage, and an estimated broker markup to determine the shipper rate per mile for each direction. Use the results to compare brokered rates with potential direct-shipper pricing. For a detailed explanation, read […]
Cost Per Mile Calculator for Owner-Operators and Truckers
This calculator helps you estimate your break even cost per mile. It has four parts: fixed expenses, variable expenses, total monthly expenses, and cost per mile. Enter or modify the editable values, and the calculated totals will update automatically. For a detailed explanation of this calculator, read our full guide: “How to Calculate Your Cost […]
Factoring for Auto Transport Companies and Car Haulers
Summary: Auto haulers frequently have trouble finding a factoring company that can work with them. Unfortunately, many factoring companies cannot finance auto haulers due to the risk of cargo damage, claims, and other issues. This article explains how freight factoring works, why auto transport companies are challenging to finance, and how to find a factoring […]
Trucking Insurance Basics for Owner Operators and Small Fleets
Starting a company as an Independent owner-operator can be difficult. The industry has a number of complex requirements that owners need to comply with at all times. One of the more confusing and expensive issues they deal with is insurance. This article provides a simple explanation of the industry and its products. It prepares you […]
Factoring Cost vs. Rates (They are Different)
Summary: To a large extent, business owners think that factoring rates, factoring fees, and the factoring cost of a dollar are all the same. Although they are related, there are important differences. Actually, low factoring rates may translate to lower fees, but may not necessarily translate to lower costs per advanced dollar. This article helps […]
Factoring and Term Loans: A PO Financing Alternative
One of the greatest challenges for a small business is being able to fulfill large purchase orders. Small companies often lack the funds to pay suppliers and other expenses associated with large orders. Most companies try to use financing – when it is available – to solve this problem. One common option is purchase order […]