Inflation and the higher cost for items have companies fearing holiday shipping is going to decline. It’s a new concern that’s the complete opposite of how things were last holiday season. FedEx and UPS are already finding themselves with more …
Back in 2017, 54% of the surveyed trucking companies (less than 50 trucks) reported that checks were the most common method of payment. For companies with 50+ trucks, 54% reported that most of their brokers or shippers paid by check. …
Between 2018 and March 2022, the Federal Reserve hadn’t increased the effective federal funds rate. However, the Fed opted to get ahead of inflation by raising the rate by 25 points going from 0.25% to 0.50%. This was the first …
Not everyone has time to wait, especially when it comes to getting paid. You work with some fantastic brokers and shippers, but waiting for payment until the end of the month is stressful. You’ve heard about freight factoring, but you …
Freight invoice factoring (freight factoring for short) is a service where you sell your unpaid invoices to a factor. That company pays you a percentage (sometimes 100%) of the money due and waits for the client to pay the amount …
Freight factoring is a process where you sell your invoices to an invoice factoring company to get paid immediately. Say a broker or shipper owes you $10,000, but you don’t want to wait until the end of the month to …
Within the U.S., 2020 saw light duty trucks travel approximately 672.1 billion miles and two axle/six tire or larger trucks topped 124.8 billion. With more than 41 million trucks on the road in 2019 (including Class 8 trucks), it’s estimated …
What do you know about freight factoring? You might be familiar with the service, but if you’re not, it’s a way to get paid immediately for the loads you pick up or deliver. Timing is everything and determines how large …
During the first year of the pandemic, 3,140 trucking companies shut their doors. This was almost triple the number of closures in 2019. The pandemic changed things as shutdowns and quarantines took place. Still, before the pandemic over 1,000 trucking …
You need the tools to make every trip matter in a competitive industry. There’s plenty of work out there for trucking companies, but everyone is competing for the most profitable loads. How do you find them and make sure you’re …
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