An early payment discount is an incentive that companies receive from suppliers in exchange for a quick payment. It is usually offered by suppliers that need to improve their cash position. In this article, we discuss: 1. Why do you need early payment discounts? Selling to commercial clients can be a challenge for small and […]
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How to Get High-Paying Freight Loads
The most important job for any owner-operator or small fleet owner is finding the best-paying freight loads to haul. For many, this task is the most difficult part of owning a trucking company. Unfortunately, many truckers and owner-operators go out of business because they don’t know how to find good loads. This article shows you […]
Recourse vs. Non-Recourse Factoring
There are two types of factoring financing, commonly known as recourse and non-recourse factoring. Some factoring companies specialize in one type of solution, though many companies offer both. In this article, we explain and compare both types of factoring. The article covers the following: 1. How does invoice factoring work? Before discussing the specifics of […]
Industries That Use Factoring
Factoring has been gaining traction in Canada as a financing solution that can help companies with cash flow problems due to slow-paying clients. This solution is flexible enough that it can be used in most industries that serve commercial or government clients. To learn more about factoring, read “What is Factoring?“ What type of businesses can […]
Factoring in Canada
Factoring is a form of business financing that has been gaining popularity in Canada. It helps companies with cash flow problems because their clients pay their invoices in 30 to 60 days. This article explains how factoring works and covers: 1. How does factoring work? Factoring provides you with working capital by financing your invoices […]
Selecting a Factoring Company in Québec
Factoring financing has been gaining popularity across Canada as a solution to finance companies that need to improve their cash flow. However, Québec is a unique market when it comes to factoring. This is due to the process the factor must follow to secure the accounts receivable and the need for bilingual personnel. As a […]
Owner-Operator Financing Options
Making a move from being a truck driver to being an owner-operator can be financially rewarding. However, it can also be very challenging, especially during the initial months of the business. As a new business owner, you need to worry about things that your employer used to handle. One of the greatest challenges for truckers […]
What is a Trucking Load Board?
A load board is a website that matches freight shippers (and brokers) with carriers. Shippers and brokers post loads that need hauling. Likewise, owner-operators and fleets can post their available capacity. Load boards allow shippers and carriers to find each other and enter commercial agreements to move the freight. This article covers: (Note: Commercial Capital […]
How to Use a Load Board to Grow Your Trucking Business
Summary: Trucking load boards remain popular with Canadian carriers looking to get freight loads. Load boards offer a simple solution for shippers who need freight moved and for carriers with available capacity. Many new owner-operators hope to rely solely on load boards to grow their business. Perhaps this strategy sounds easy because you can find […]
How to Offer Net-30 Payment Terms Effectively
Summary: Waiting 30, 45, or even 60 days to get an invoice paid is a challenge for many business owners. Small companies often have to wait for payment because their commercial sales are made on credit. This type of trade credit is commonly known as “payment terms.” Companies must offer payment terms because their clients […]